- Exchange announced that X1's native coin, OKB, will be utilized to pay network gas expenses.
OKX and Polygon Labs have launched the “X1” testnet, a Layer 2 zero-knowledge network. By positioning OKX’s platform token, OKB, as the foundation for transaction fees on X1, this creative endeavor strategically advances the token’s usefulness.
The Polygon Chain Development Kit (CDK), a toolset that has made OKX a major contributor, lies at the heart of X1’s development. By allocating significant engineering resources, OKX hopes to increase Ethereum’s scalability. This action emphasizes the need for more effective and scalable platforms and shows a significant investment in the future of blockchain technology.
One notable feature of X1 is its seamless environment for deploying DApps based on Ethereum, which makes it compatible with Ethereum. A safe and easy-to-use experience is guaranteed by this interoperability with a range of smart contracts, wallets, and tools. ZK proofs are incorporated into the design of X1, which reduces transaction costs while improving security and scalability.
X1 is positioned to be a key platform in introducing users to Web3, says Jason Lau, Chief Innovation Officer of OKX. X1 offers developers a stable network to create Web3 apps that focus on the user while preserving network compatibility. A well-functioning blockchain ecosystem depends on this feature.
The August release of Polygon Labs’ CDK has garnered attention for its potential to facilitate the creation of Ethereum Layer 2 blockchains. Interoperability can be achieved by connecting these blockchains via a common ZK bridge. Co-founder of Polygon Sandeep Nailwal sees X1’s adoption of the CDK as a big step forward that will enable ZK-powered L2 networks that are integrated within the Polygon ecosystem.
A turning point in blockchain technology has been reached with the release of X1. By working together, OKX and Polygon Labs have not only raised the bar for blockchain development, but also demonstrated the power of collaborative innovation in building a more cohesive, effective, and user-friendly blockchain ecosystem.