OKX brings innovation: Launch of its own L2 network X Layer
Date: 2024-04-16 Author: Oliver Abernathy Categories: BLOCKCHAIN
One of the leading cryptocurrency exchanges, OKX, has joined the ranks of pioneers by introducing its own second-layer solution for Ethereum, called X Layer. The announcement of the launch of this innovative network was made on April 15, 2024 and immediately caused lively discussions in the cryptocurrency community. Cointelegraph reports the launch of a new network, citing a company press release.
X Layer Prospects: A Solution for Reducing Fees and Ensuring Compatibility
X Layer is designed to reduce fees on the Ethereum network and ensure application compatibility. The X Layer (X1) zero-knowledge proof protocol, developed in partnership with the Polygon Labs team, has ambitious goals to improve the efficiency and usability of decentralized applications.
The importance of L2 solutions for the development of the ecosystem: OKX's emphasized position
Based on statements from OKX representatives, the importance of second-layer solutions for the further development of the cryptocurrency ecosystem is emphasized. The fundamental importance of education and implementation of L2 technologies in the cryptosphere remains a priority for the exchange.
According to the official statement, X Layer is fully compatible with the Ethereum Virtual Machine (EVM). This paves the way for developers to create and run decentralized applications on Ethereum without having to make significant changes to the source code.
Path to Success: The X Layer Mission within the Web3 Infrastructure
Based on statements from OKX CMO Haider Rafique, X Layer and similar Layer 2 networks have the potential to become an integral part of the Web3 infrastructure. Support and active implementation of such technologies is considered a strategically important step for the development of the cryptocurrency community.
OKX continues its path of innovation with the introduction of X Layer, a future-proof L2 network focused on improving the efficiency and accessibility of decentralized applications. Its launch is intended to accelerate the development of the cryptocurrency ecosystem and promote the mass adoption of blockchain technologies.
