OKX and Polygon jointly launch zKEVM Layer2 network X1.

2023-11-15 01:05

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OKB will serve as the native token to pay for gas fees on the network.

Source: OKX

On November 15th, OKX announced the launch of the X1 testnet in collaboration with Polygon Labs. The network is a new upgraded version of OKBC and will use OKX's platform token, OKB, as the native token to pay for gas fees on the network. X1 is reportedly a Layer2 network based on Ethereum's zK zero-knowledge proof technology, with high performance and security. Developers can use the Polygon Chain Development Kit (CDK) to build the ecosystem.

X1 was designed with global developers in mind from the outset, who hope that anyone can build applications on its chain ecosystem to drive the future development of Web3. X1 will connect OKX's 50 million+ users with the Polygon and even Ethereum communities to attract builders in DeFi, enterprise, and other vertical fields.

In addition, as part of the collaboration between OKX and Polygon Labs, OKX will be a core contributor to the Polygon CDK and will invest a significant amount of engineering resources to enhance the technical stack of Ethereum's scaling solutions. X1 will serve as a new local network for OKX, providing users and developers with the world's largest blockchain ecosystem. OKX's platform token, OKB, will serve as the native token for X1 and will be used to pay gas fees on the network.

As a more advanced Layer2 network that is friendly to builders, creators, and Web3 enthusiasts, X1 utilizes zK zero-knowledge proof to ensure high security and scalability while reducing user transaction costs. The network is compatible with Ethereum EVM, allowing developers to seamlessly and securely deploy EVM-based Dapps and connect to more smart contracts, wallets, and tools.

OKX Chief Innovation Officer Jason Lau said: "X1 is the key infrastructure that brings users into the Web3 world. This highly scalable and flexible network is very suitable for developers, who can build user-friendly world-class Web3 applications for users on X1 while maintaining interoperability with other networks and ecosystems. Through our partnership with Polygon Labs, we hope to work with the developer community in the future to build more use cases and promote the widespread adoption of Web3 globally."

Polygon co-founder Sandeep Nailwal said: "The X1 network provides developers with an affordable and user-friendly platform to create more diverse decentralized applications for users, while also promoting seamless integration between the OKX community, Polygon, and the Ethereum ecosystem. The Polygon CDK technology is a major technological leap, allowing developers to easily design and deploy zK zero-knowledge proof Layer 2 solutions on Ethereum. In the future, networks deployed based on Polygon CDK will interoperate and coexist with other zK zero-knowledge proof-driven Layer 2 networks in the Polygon CDK ecosystem. We are excited to work with the OKX team to promote the landing of Polygon CDK technology and X1 network."

It is reported that Polygon CDK was launched at the end of August, allowing enterprises and developers to launch zK zero-knowledge proof-based Layer2 solutions on Ethereum, providing unlimited scalability and unified liquidity. Some technology companies have announced plans to establish Ethereum zK L2s, including Astar, the largest blockchain in the Polkadot ecosystem, Canto, the first public chain in the Cosmos ecosystem, Gnosis Pay, Palm, and IDEX. In the coming weeks, OKX and Polygon Labs will announce more details about their collaboration and the upcoming developer events.