OKX's New Ethereum Layer-2: What is “X Layer”?

Crypto exchange OKX announced an Ethereum layer-2 network, X Layer. With this layer-2 solution, users can reportedly connect to Ethereum's expansive network, enhancing scalability, privacy, and accessibility within the blockchain industry. 

Let's take a closer look at X Layer.

Leveraging ZK Knowledge Proof

X Layer is a ZK rollup solution that leverages the power of zero-knowledge proofs (ZK proofs) through the Polygon Chain Development Kit (CDK). 

As per reports, this framework empowers developers to construct blockchains rooted in ZK proofs, thereby fortifying privacy measures while amplifying scalability. By leveraging ZK proofs, developers can execute transactions securely without revealing sensitive information, fostering a more confidential and efficient ecosystem.

Global Ecosystem Integration

One of X Layer's defining features is its integration with both the OKX and Ethereum communities. This symbiotic relationship facilitates fluid interaction between users, enhancing collaboration and innovation across the global blockchain landscape. 

With X Layer serving as a vital bridge, users can navigate between OKX's robust platform and Ethereum's expansive network, unlocking a myriad of opportunities for growth and exploration.

X Layer reportedly boasts 100% compatibility with the Ethereum Virtual Machine (EVM), streamlining the deployment process for developers. This compatibility ensures that existing Ethereum smart contracts can be seamlessly migrated to X Layer, minimizing friction and maximizing efficiency. 

Built upon the Polygon CDK, X Layer reportedly offers near-instant finality, unified liquidity, and independent data availability. 

DApps Deployment

X Layer provides a fertile ground for developers to cultivate and deploy ZK-powered DApps, according to the OKX team. With X Layer, developers can explore their creativity and drive change within the blockchain landscape via token swaps, staking, or other smart contract applications.

As a portal to Web3, X Layer can be accessed through the OKX Wallet. Users can move funds between OKX and X Layer using the native token, OKB.

Over 50 decentralized applications were deployed in the first week after the protocol launched its testnet last November. An array of Web3 and DeFi apps, including The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap, are already taking advantage of Layer 2 networks.

Worth noting, OKX has over 50 million global users and a trading volume second only to Binance.