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OKX will provide interoperability with layer-2 network

Key Takeaways
  • OKX cryptocurrency exchange has launched an Ethereum-based layer-2 network.
  • X Layer will provide users with lower fees and interoperability to interact with decentralized applications.
  • OKX has joined the likes of Coinbase in launching an in-house Ethereum-based layer-2 network.
OKX will provide int

OKX’s Ethereum Layer 2 Network Launched to Support Interoperability

OKX will provide interoperability with the Ethereum layer-2 network

Cryptocurrency exchange OKX has launched its in-house Ethereum-based layer-2 network, X Layer, to provide users with lower fees and interoperability to interact with decentralized applications (dApps). Prior to this, cryptocurrency exchange Coinbase had also launched an Ethereum layer-2 network. It is noteworthy that on April 15th, OKX launched the public mainnet of its zero-knowledge (zk) proof-powered network, X Layer. According to information, the X Layer network, built using Polygon's Chain Development Kit (CDK), utilizes the aggregation layer of the Ethereum scaling protocol to enable shared state and liquidity across multiple blockchain networks.

EVM-compatible is OKX's X Layer network

OKX's X Layer network provides fast and low-cost transaction capability when interacting with on-chain applications. The network uses ZK-proof technology, which is an underlying technology used by various Ethereum layer-2 solutions for better security and scalability. It is noted that X Layer is EVM-compatible, allowing developers to launch or migrate Ethereum-based decentralized apps (DApps) without rewriting the underlying code. Haider Rafique, Chief Marketing Officer of OKX, said in a statement about X Layer network that it and other layer networks are ready to become integral infrastructure for an interconnected Web3 ecosystem. He said that we believe that due to our strong community and connectivity with other Ethereum-based networks, X Layer has unlimited potential. It is worth noting that OKX launched the mainnet beta of X Layer in November 2023, attracting more than 50 Web3 DApps to launch on the testnet.

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