OKX L2 "X Layer" goes live, potential for 50 million users to join blockchain applications

The OKX exchange has officially launched its X Layer on the mainnet, aiming to onboard its massive 50 million users to blockchain applications. It plans to enhance trading efficiency and reduce costs using L2 solutions.

Introduction of X Layer: OKX's New Topic

OKX has introduced X Layer, which is an Ethereum-based zero-knowledge L2 network that leverages Polygon development components. This blockchain was initially tested under the codename "X1" and is now officially launched. This move is a step towards OKX realizing its ecosystem, with OKX's COO Haider Rafique stating, "We see these L2s as the expressways of the Web3 world," emphasizing its role in facilitating the next generation of decentralized applications and wallets.

OKX's Rapid Product Launch

Since the launch of the testnet in November last year, X Layer has quickly gained popularity, with over 50 decentralized applications deployed within a week. Prominent Web3 and DeFi platforms like The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap have already started utilizing this new network. With support for over 170 decentralized applications, X Layer enables users to engage in various blockchain activities directly through OKX, such as token swaps and staking, promising a rich environment for developers and users.

Transaction Fees Utilizing OKB

Powering the economic framework of X Layer is OKX's native platform token OKB, which has recently seen an 8.18% increase and will serve as the native asset for paying transaction fees.

OKX is currently the second-largest exchange after Binance, facilitating over $60 billion in trades this month.

Deep Collaboration with Polygon, Integration of AggLayer

X Layer adopts Polygon's CDK as the ZK Rollup solution, enhancing transaction throughput while maintaining Ethereum's inherent security features. X Layer is Ethereum-compatible, meaning existing Ethereum applications can easily migrate to this new platform without the need for extensive redevelopment.

In addition to the technology, X Layer will also interconnect with other networks through Polygon's blockchain aggregation layer, AggLayer.

Astar Collaborates with Polygon AggLayer to Launch Astar zkEVM Mainnet

This integration will address the common issues of liquidity and user fragmentation between different chains, promoting a more unified and expansive blockchain ecosystem. Marc Boiron, CEO of Polygon Labs, highlights the significance of this integration, stating, "The connection with AggLayer is a crucial next step towards a truly unified Web3 environment."