OKX and Polygon Labs have joined forces to launch X1, a cutting-edge Layer 2 (L2) network designed to enhance Web3 development. This collaboration leverages Zero-Knowledge (ZK) technology to deliver heightened security, scalability, and reduced transaction costs for Ethereum-based applications.
Announcement and Key Features
On November 14, 2023, OKX's official Spanish Twitter account unveiled X1, built using Polygon’s Chain Development Kit (CDK). The announcement highlighted:
🚨 NEW 🚨
Introducing #X1, our new Ethereum L2 network powered by Polygon CDK.
This partnership with @0xPolygonLabs will empower developers with enhanced security, scalability, and lower fees to build the future of Web3.
Core Benefits of X1:
- Scalability: Processes transactions faster and cheaper than Ethereum mainnet.
- Security: Utilizes ZK-proofs for tamper-resistant validation.
- Interoperability: Bridges OKX’s 50M+ users with Polygon and Ethereum ecosystems.
- Developer-Friendly: Supports DeFi, enterprises, and cross-industry innovation.
👉 Explore how X1 transforms Ethereum scalability
Strategic Collaboration
Jason Lau, OKX’s Chief Innovation Officer, emphasized:
"X1 is pivotal to onboarding users into Web3. Its scalable infrastructure enables developers to create intuitive, interoperable apps while maintaining ties to broader ecosystems."
Sandeep Nailwal, Polygon’s Co-founder, added:
"X1 provides an affordable, accessible platform for decentralized apps, seamlessly linking OKX’s community with Polygon and Ethereum."
Technical Backbone:
- Token Utility: OKB (OKX’s native token) will cover gas fees on X1.
- Resource Commitment: OKX will contribute engineering resources to enhance Ethereum’s scalability via Polygon CDK.
👉 Learn more about OKX’s Web3 initiatives
Future Roadmap
OKX and Polygon Labs plan to release further details soon, including developer-centric events and ecosystem expansions.
FAQ Section
Q1: What is X1’s primary advantage over Ethereum mainnet?
A1: X1 reduces gas fees and increases throughput using ZK-rollups while maintaining Ethereum’s security.
Q2: How does OKB integrate with X1?
A2: OKB is used to pay transaction fees, incentivizing network participation.
Q3: Who can build on X1?
A3: Developers across DeFi, gaming, and enterprise sectors can deploy dApps with seamless cross-chain interoperability.
Q4: Is X1 live for users?
A4: The network was announced in November 2023; follow OKX for rollout updates.
Q5: How does X1 compare to other L2 solutions?
A5: X1 combines Polygon CDK’s modularity with ZK-proofs for optimized performance.
Key Takeaways
- Partnership: OKX + Polygon Labs = X1, a ZK-based L2 for Ethereum.
- Goal: Democratize Web3 access via low-cost, high-speed transactions.
- Audience: Developers, enterprises, and OKX’s 50M+ user base.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and may not be suitable for all investors.
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