At the launch, OKX introduced X Layer – an efficient Layer-2 platform powered by Polygon. This new solution allows for a smooth connection between OKX’s exchange and Web3 wallet, aiming to boost the usage of decentralized apps and foster advancements in this domain.
Seamless Integration To Bridge Assets
OKX, a major cryptocurrency exchange, has made the X Layer, its Layer-2 solution, publicly available on the mainnet. The X Layer now works in conjunction with both the OKX Exchange (a centralized platform) and the OKX Web3 Wallet. This connection enables users to easily transfer assets between the two systems and access over 200 decentralized applications on the X Layer.
According to Polygon Labs CEO Mark Boiron,
Users of OKX, numbering 50 million, can now seamlessly join X Layer and other linked chains through a straightforward onboarding process.
Empowering Developer Community
Haider Rafique, OKX’s Chief Marketing Officer, made an announcement on the company website about the new development, which is called X Layer. This innovation enables multiple protocols to operate in harmony, thereby boosting the blockchain’s ability to handle more transactions at once.
With this assistance, on-chain developers can easily create their own blockchains by integrating zero-knowledge tech through the adaptable toolset called the Chain Development Kit (CDK).
Some large cryptocurrency exchanges, including Coinbase and Kraken, are developing their own layer-2 networks in addition to what they currently offer. Coinbase has already introduced its own blockchain named Base, which began operation in August 2023 using Optimism’s OP Stack as its foundation.
Progress Since Testnet
The project has experienced remarkable growth during its testnet stage, attracting over 200 decentralized applications (dApps) and thousands of developers. They were drawn to the opportunity of using a more affordable and faster network for accessing on-chain apps related to DeFi, infrastructure, bridges, expansion tools, wallets, NFTs, gaming, and SocialFi applications.
Some well-known decentralized apps (dApps) that have been integrated into X Layer include DeFi platforms such as Curve, Renzo, and QuickSwap, along with infrastructure solutions like LayerZero, Wormhole, and EigenLayer.
Rafique writes,
“X Layer merges the ‘openness and interoperability’ symbol represented by the OKX moniker, with the term ‘layer,’ signifying various protocols that collaborate to enhance the scalability of a blockchain network. X Layer is designed to be adaptable, allowing for innovation beyond a solitary application. We anticipate on-chain developers leveraging X Layer and its framework to develop new ‘layers’ catering to numerous use cases.”
Focus on Expansion and User Adoption
The company’s recent announcement highlighted their new priority: drawing in a large developer and user base for the platform.
The OKX team aims to create intuitive decentralized applications (dApps) as part of their long-term goals. They plan to accomplish this by boosting interoperability, supplying developers and innovators with advanced technology tools and extensive assistance, and ultimately, optimizing the on-chain experience through increased transaction speed and thoughtful design interactions.
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2024-04-16 15:12