OKX And Polygon Launch X1 Testnet, Advancing Layer 2 Tech

OKX and Polygon Labs have launched the testnet of “X1,” a zero-knowledge Layer 2 network. This innovative venture positions OKX’s platform token, OKB, as the cornerstone for transaction fees on X1, marking a strategic evolution in its utility.

At the core of X1’s development is the Polygon Chain Development Kit (CDK), a toolkit that has made OKX a significant contributor. With a commitment to channel substantial engineering resources, OKX aims to amplify Ethereum’s scalability. This move signifies a deep investment in the future of blockchain technology, highlighting the need for more efficient and scalable platforms.

OKX is using Polygon CDK to build a ZK-powered Layer 2 network that connects the 50 million+ OKX user base to the broader Ethereum community, to allow anyone to take part in a truly secure and unified global onchain ecosystem.It’s called X1.@X1_Network will be a secure,…

— Polygon (Labs) (@0xPolygonLabs) November 14, 2023

Notably, X1 stands out for its compatibility with Ethereum, offering a seamless environment for deploying EVM-based DApps. This compatibility extends to various smart contracts, wallets, and tools, ensuring a user-friendly and secure experience. X1’s design incorporates ZK proofs, enhancing its security and scalability while also cutting down on transaction costs.

According to Jason Lau, OKX’s Chief Innovation Officer, X1 is poised to be a pivotal platform in introducing users to Web3. Developers find in X1 a robust network for building consumer-centric Web3 applications, maintaining interoperability with other networks. This aspect is crucial for a cohesive blockchain ecosystem.

Polygon Labs’ CDK, released in August, has gained momentum for its role in developing Layer 2 blockchains on Ethereum. These blockchains can connect to a shared ZK bridge, enabling interoperability. Sandeep Nailwal, Polygon’s co-founder, views X1’s use of the CDK as a significant advancement, paving the way for interconnected, ZK-powered L2 networks within the Polygon ecosystem.

The launch of X1 marks a pivotal moment in blockchain technology. This collaboration between OKX and Polygon Labs not only sets a new standard in blockchain development but also underscores the potential of collaborative innovation in creating a more integrated, efficient, and user-friendly blockchain ecosystem.

Also Read: OKX Wallet To Integrate Bitcoin Testnet

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2023-11-14 22:44