OKX, a big crypto exchange, and Polygon Labs have teamed up to introduce the testnet for their cool Layer 2 network called "X1."
This is a major step forward for Ethereum scaling solutions, offering improved security, scalability, and lower transaction costs. The X1 network, built on Ethereum and using zero-knowledge proofs, is expected to use OKB, OKX's own token, as its main currency for gas fees. This collaboration also involves Polygon's Chain Development Kit (CDK), a technology that Polygon Labs recently introduced for creating Layer 2 blockchains with zero-knowledge proofs. It's exciting to see these advancements in the crypto space! đđȘ
According to what OKX shared with The Block, X1 is designed to be a super secure and scalable network. Its goal is to make it easier to deploy Ethereum Virtual Machine (EVM)-based decentralized applications (DApps) while staying compatible with different smart contracts, wallets, and tools in the Ethereum ecosystem. Jason Lau, the chief innovation officer at OKX, talked about how important X1 is in their vision. He emphasized its role in educating and integrating users into the Web3 world. Lau also mentioned that X1 is developer-friendly, allowing the creation of user-friendly Web3 applications while still being able to work with other networks. Polygon Labs' introduction of the CDK for Layer 2 blockchain development paved the way for various Layer 2 projects, like Immutable zkEVM, IDEX, Palm Network, and Astar zkEVM. These developments show the growing interest and use of zero-knowledge proofs in the Ethereum space. It's exciting to see how these advancements are shaping the future! đđđĄ
The collaboration between OK and Polygon Labs shows their joint effort to revolutionize Ethereum's scalability and accessibility. They're focused on providing efficient and secure solutions for developers and users of blockchain-based applications. The launch of the X1 testnet is a big step forward in Ethereum's evolution. #BTC #PolygonEvolution
