tl;dr
OKX, the fourth-largest crypto exchange, has rolled out its layer-2 blockchain, X Layer, on the public mainnet, built using Polygon's Chain Development Kit (CDK) and zero-knowledge technology. This move follows similar initiatives by other major cryptocurrency exchanges such as Coinbase and Kraken. ...
OKX, the fourth-largest crypto exchange, has rolled out its layer-2 blockchain, X Layer, on the public mainnet, built using Polygon's Chain Development Kit (CDK) and zero-knowledge technology. This move follows similar initiatives by other major cryptocurrency exchanges such as Coinbase and Kraken.
X Layer will connect to Polygon’s wider ecosystem via the AggLayer, enabling access to over 170 decentralized applications (dApps) with more to come, positioning X Layer and other layer-2 chains as the infrastructure of the Web3 world.
OKX, the fourth-largest crypto exchange, said its new layer-2 blockchain, called X Layer, has gone live on its public mainnet, a continuation in the era of major crypto companies starting their own distributed networks. X Layer, previously known as X1, makes use of Polygon's Chain Development Kit (CDK), a customizable toolkit that lets developers build their own chains by making use of zero-knowledge technology.
The news comes as other major cryptocurrency exchanges have pursued their own layer-2 networks over the past year. In August, Coinbase launched its “Base” blockchain, which is built with Optimism’s OP Stack. Kraken is reportedly also interested in creating its own layer-2 blockchain.
In a press release, OKX said its developers will be contributing to CDK’s codebase, and that X Layer will connect to Polygon’s wider ecosystem via the AggLayer. AggLayer is a Polygon offering that aims to unify liquidity across various chains spun up using the project's technology. “OKX’s 50 million users now have an easy path to onboarding to X Layer and all the other chains connected to the AggLayer,” Polygon Labs Chief Executive Officer Mark Boiron said in the release.
X Layer, which launched on testnet in November, will allow users to access over 170 decentralized applications (dApps), with more slated to launch soon. “We envision X Layer and other layer-2 chains as the highway infrastructure of the Web3 world, with dApps as the marketplaces and self-hosted wallets as the vehicles that take you there,” OKX Chief Marketing Officer Haider Rafique said in the press release.
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