On April fifteenth, digital forex change OKX lastly opened the Ethereum Layer 2 community X-layer mainnet to the general public.

The scaling resolution testnet was launched in November 2023 to constructive opinions and was constructed utilizing Polygon's Chain Improvement Package (CDK). This toolkit permits builders to construct chains utilizing zero-knowledge expertise.

OKX Chief Advertising and marketing Officer Haider Rafiq stated the corporate constructed its Layer 2 community as a result of “one of the best ways to realize mainstream adoption was to compete with the biggest current Web3 neighborhood, Ethereum. He defined that it is because he believes in “serving to firms scale their enterprise.”

Consequently, the corporate is leveraging Polygon and the Ethereum neighborhood to convey 50 million customers on-chain.

X layer

X Layer is a high-performance, safe Ethereum-based Zero Data (ZK) Layer 2 community.

The platform has already seen some adoption, with over 200 decentralized functions constructed on prime of it, together with well-known names resembling Etherfi, Chainlink, Curve Finance, Eigen Layer, and Renzo Protocol.

Rafiq added:

“Now that the X LAYER public mainnet is stay, we’re targeted on partaking as many builders and customers as doable. Our purpose is to supply a seamless and environment friendly expertise on-chain. so as to add worth and encourage and foster new improvements primarily based on L2 and ZK applied sciences.”

Moreover, the change’s native OKB token can be used for gasoline funds on the Layer 2 community. This mainnet launch triggered an increase in OKB's worth, posting a 5% enhance regardless of the final market downturn affecting massive digital property.

There was some controversy over the branding of the chain, which was initially marketed as X1. One other platform constructed by XEN builders (initially he was referred to as XONE (now referred to as X1)) says customers may confuse his two chains. It was inflicting concern. OKX seems to have lastly settled on X Layer to keep away from branding points following a lawsuit from XEN builders.

layer 2 community

The Layer 2 blockchain community is designed to boost Ethereum's scalability, a development that’s quickly gaining reputation and integration within the cryptocurrency area.

Based on L2Beat information, these networks collectively facilitated 117 transactions per second, representing a big bounce of 9.67x over Ethereum's primary chain.

Furthermore, the entire worth of property secured on these networks soared to an unprecedented $45 billion, however had barely decreased to $37 billion on the time of reporting.

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