Bittime - OKEx Launches Polygon-Based X Layer Network to Facilitate Fast, Cost-Effective Ethereum Transactions for its 50 Million Users.
OKEx Launches Secure Cross-Chain Liquidity Platform
OKEx, a leading digital asset trading platform, is proud to announce the launch of an innovative platform to increase cross-chain liquidity.
This platform utilizes a Layer-2 (L2) network that combines Zero Knowledge (ZK) technology for high-level security and was built using the Polygon Chain Development Kit (CDK).
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Main Advantages of X Layer
The platform's key advantage lies in its ability to facilitate shared state and liquidity across multiple chains via AggLayer, a breakthrough solution that enables users to transact securely and efficiently across multiple blockchains.
Also read: Highlight News! Today's Crypto News Summary, April 16, 2024
Ethereum Based dApps Integration
Implemented ZK proof guarantees transaction scalability and minimizes costs. EVM compatibility allows seamless integration of Ethereum-based dApps without requiring much development.
"X Layer is designed specifically for innovative developers who create applications to connect millions of people," said Haider Rafique, Chief Marketing Officer of OKEx.
"We envision X Layer and the rest of the Layer-2 chain as the infrastructure highway in a Web3 world, where dApps act as the marketplace and standalone wallets as the vehicle that gets you there," said Rafique.
X Layer's Innovative Developer Community is Growing Rapidly
Since its beta launch in November 2023, X Layer has shown tremendous growth. The platform has attracted more than 50 web3 decentralized applications (dApps) in the first week of its testnet launch.
DApps integrated with X Layer include leading applications such as The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap. This integration significantly increases the utility and reach of the network.
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X Layer: Integrated Web3
X Layer is an important milestone in the industry's efforts to realize a fully integrated Web3, said Polygon CEO Marc Boiron.
By connecting X Layer to AggLayer, fragmentation of liquidity and users across the AggLayer chain is resolved, allowing them to grow together.
The enthusiasm of the talented developers who have started building X Layer is clear evidence of the potential of this network.
Boiron added, we look forward to continued collaboration with OKEx to achieve our shared vision of advancing this industry.
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Learn Complete Guide How to Buy Crypto on Bittime .
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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