[ad_1]
Crypto alternate OKX has introduced the official launch of its Layer-2 blockchain, X Layer, on the general public mainnet.
X Layer, beforehand known as X1, is constructed using Polygon’s Chain Growth Package (CDK), which includes zero-knowledge expertise to permit builders to create personalized chains.
The letter “X” within the title stands for openness and interoperability, whereas the phrase “LAYER” represents various kinds of protocols that work collectively to enhance the scalability of a blockchain community.
The newest growth follows a broader development amongst main crypto exchanges to develop their very own layer-2 networks. In August, Coinbase launched its Base blockchain, which makes use of Optimism’s OP Stack. Stories additionally state that Kraken is exploring the potential of creating its personal layer-2 blockchain.
Per a press launch by OKX, the alternate’s builders will actively contribute to the CDK codebase. X Layer will even combine with Polygon’s broader ecosystem via the AggLayer, an answer designed to consolidate liquidity throughout a number of chains developed with Polygon’s expertise.
“OKX’s 50 million customers now have a simple path to onboarding to X Layer and all the opposite chains related to the AggLayer.”
Mark Boiron, CEO at Polygon Labs
X Layer initially launched on a testnet in November and at the moment helps over 170 decentralized purposes (dapps), with plans so as to add extra within the close to future.
The community is envisioned as a part of the foundational infrastructure for the web3 ecosystem, likening Layer-2 chains to highways that facilitate entry to dApps and self-hosted wallets.
The platform’s debut of X Layer coincides with its prioritization of compliance activities in the USA. Regional regulators, together with the SEC within the US, have repeatedly mentioned that the majority cryptocurrencies are topic to securities laws, although these businesses have but to elucidate their view on memecoins.
With mounting worries in regards to the regulatory points related to offshore exchanges, OKX not too long ago pulled USDT from its European companies and initiated an unprecedented freeze of USDT property in collaboration with Tether.
[ad_2]
Source link