OKX X Layer: Crypto Exchange Launches Ethereum Layer 2 Network, Promising Lower Fees

Crypto News – In keeping with the trend of big cryptocurrency corporations launching their own distributed networks, OKX announced that its own layer-2 blockchain, named X Layer, has gone live on its public mainnet.

OKX X Layer: Crypto Exchange Launches Ethereum Layer 2 Network, Promising Lower Fees

The announcement coincides with the year-long pursuit of layer-2 network development by other significant bitcoin exchanges. Utilizing Polygon’s Chain Development Kit (CDK), an adaptable framework that enables developers to create their own chains using zero-knowledge technology, X Layer, formerly known as X1, builds its own chains.

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,

Haider Rafique, OKX Chief Marketing Officer

An Interoperable Ecosystem Aims With X Layer

According to a press release from OKX, X Layer will be connected to Polygon’s larger ecosystem through the AggLayer, and its developers will be contributing to the CDK’s development.

X Layer’s connection to the AggLayer solves the fragmentation of liquidity and users across chains on the AggLayer so they can all grow together. OKX’s 50 million users now have an easy path to onboarding to X Layer and all the other chains connected to the AggLayer.

Mark Boiron, Polygon Labs Chief Executive Officer

Users of X Layer, which went live on the testnet in November, will have access to more than 170 decentralized apps (dapps), with more scheduled to debut shortly. Additionally, when engaging with on-chain apps, X Layer offers cheaper and faster transaction capabilities.

We are building an ecosystem that is as seamless and interoperable as possible. We think X Layer has limitless potential thanks to our strong community and its connectivity with other Ethereum-based networks,

Rafique