OKX, the fourth-largest cryptocurrency exchange, announced the launch of its new layer-2 blockchain, named X Layer, on its public mainnet. This development signifies a trend among major crypto firms establishing their decentralized networks.

Formerly referred to as X1, X Layer leverages Polygon’s Chain Development Kit (CDK), enabling developers to construct custom chains utilizing zero-knowledge technology.

This initiative aligns with the recent endeavors of prominent cryptocurrency exchanges to establish their layer-2 networks. For instance, Coinbase introduced its “Base” blockchain in August, utilizing Optimism’s OP Stack, while Kraken is exploring the creation of its own layer-2 blockchain.

OKX disclosed in a press release that its developers will actively contribute to the CDK’s codebase. Additionally, X Layer will interface with Polygon’s broader ecosystem through the AggLayer. This integration facilitates liquidity aggregation across diverse chains established using Polygon’s technology.

Mark Boiron, CEO of Polygon Labs, highlighted the seamless access for OKX’s 50 million users to X Layer and other chains linked to the AggLayer.

X Layer, which underwent testing on the testnet in November, offers users access to over 170 decentralized applications (dApps), with a pipeline of additional launches in the near future.

Haider Rafique, OKX’s Chief Marketing Officer, envisions X Layer and similar layer-2 chains as the foundational infrastructure of the Web3 realm, with dApps serving as marketplaces and self-hosted wallets as the means of navigation.

For further details, refer to the article: “Cryptocurrency Exchange OKX Coming Out With Layer 2 ‘X1’ Built on Polygon Technology,” edited by Bradley Keoun.