OKX Launches Public Mainnet X LAYER for Blockchain DLT Network

22 views 2:44 pm 0 Comments May 17, 2024

OKX has recently unveiled the public mainnet of their Layer-2 (L2) solution, X LAYER, which is now operational with over 200 decentralized applications (dApps) running on the network.

X LAYER is seamlessly integrated with the OKX Exchange (CEX) and the OKX Web3 Wallet, allowing users to transfer assets between the platforms and engage with the diverse range of dApps available on the network.

The name X LAYER is a fusion of the OKX symbol X, symbolizing openness and interoperability, and the term LAYER, signifying the various protocols working in unison to enhance the scalability of blockchain networks.

Designed to be adaptable and conducive to innovation, X LAYER aims to empower on-chain developers to create new “Layers” for a multitude of applications, rather than confining them to a single use case.

With a strong focus on accessibility and efficiency, X LAYER leverages Zero-Knowledge Proof (ZK) technology to facilitate quicker and more cost-effective interactions for users accessing on-chain applications.

The platform has witnessed significant developer interest, with thousands actively building on the network, including a diverse array of dApps spanning DeFi, infrastructure, bridging, growth tools, wallets, NFTs, gaming, and social finance, among others.

Noteworthy projects such as Curve, Renzo, QuickSwap, LayerZero, Wormhole, and EigenLayer (DA) are among the prominent dApps that have chosen to build on X LAYER.

As X LAYER embarks on its public mainnet journey, the primary objective is to onboard a wide array of developers and users to foster a vibrant ecosystem that encourages innovation based on L2 and ZK technologies.

The company’s commitment to advancing the blockchain space is evident in their development of a robust crypto ecosystem over the years, emphasizing the transformative potential of blockchain technology and the creation of powerful Web3 products.

In alignment with their core principles, X LAYER is structured around three key pillars:

Facilitating user-friendly decentralized applications on-chain

  • Enhancing interoperability and accessibility through bridging chains
  • Streamlining user experience and interaction design for intuitive utility
  • Seamless integration of all dApps with the OKX Web3 Wallet for a cohesive user interface
  • Offering advanced wallet services, including account abstraction

Empowering developers and creators

  • Providing an advanced tech-stack in collaboration with Polygon Labs to support builders
  • Collaborating closely with developers to bring their visions to fruition on the L2 chain
  • Delivering comprehensive documentation to guide users through the development process
  • Providing a platform for developers to test dApps with a substantial user base

Enhancing on-chain experience with cost-efficiency and speed

  • Significantly reducing transaction fees to enhance affordability for dApp users
  • Boosting transactions per second (TPS) through optimized transaction processing

Through these initiatives, X LAYER aims to revolutionize the Web3 economy, fostering wider adoption and offering enhanced individual freedom and opportunities on a global scale.