Key Points
- OKX has launched its Layer-2 blockchain, X Layer, on the public mainnet.
- X Layer supports over 170 decentralized applications and will integrate with Polygon’s broader ecosystem.
OKX, a crypto exchange, has officially launched its Layer-2 blockchain, X Layer, on the public mainnet.
Previously known as X1, X Layer was developed using the Chain Development Kit (CDK) from Polygon. This kit incorporates zero-knowledge technology, enabling developers to create customized chains.
The Significance of X Layer
The name “X Layer” symbolizes openness and interoperability (“X”) and different protocols (“Layer”) that collaborate to enhance the scalability of a blockchain network.
This development is part of a wider trend among major crypto exchanges to create their own layer-2 networks. For example, Coinbase unveiled its Base blockchain in August using Optimism’s OP Stack. There are also reports that Kraken may be considering developing its own layer-2 blockchain.
According to a press release by OKX, the exchange’s developers will actively contribute to the CDK codebase. Furthermore, X Layer will integrate with Polygon’s broader ecosystem via AggLayer, a solution designed to consolidate liquidity across multiple chains developed with Polygon’s technology.
Integration and Future Plans
Polygon Labs CEO Mark Boiron stated that OKX’s 50 million users now have an easy path to onboarding to X Layer and all other chains connected to the AggLayer.
X Layer, which launched on a testnet in November, currently supports over 170 decentralized applications. The network plans to add more in the near future.
This network is envisioned as part of the foundational infrastructure for the web3 ecosystem, likening Layer-2 chains to highways that facilitate access to dApps and self-hosted wallets.
The introduction of X Layer coincides with OKX’s increased focus on compliance activities in the United States. Despite increasing concerns about regulatory issues associated with offshore exchanges, OKX recently removed USDT from its European services and initiated an unprecedented freeze of USDT assets in collaboration with Tether.
