OKX leverages its 50 million user base to sustain X1 development.
Crypto exchange OKX and blockchain designer Polygon Labs have actually revealed a cooperation to release a brand-new Ethereum layer 2 network called X1.
The X1 testnet introduced today usages zero-knowledge (ZK) evidence to enable fast and low-priced deals on a protected network that works with Ethereum.
“X1 will be an essential pillar of our efforts to inform and bring our users on-chain and into the world of Web3,” stated Jason Lau, OKX's Chief Innovation Officer. “By working together with Polygon Labs, we seek to bring more home builders, more usage cases, and eventually the mass adoption of Web3.”
OKX's token OKB will be utilized to pay gas costs on the X1 network. OKB token is the native energy token of the OKX exchange, utilized to spend for trading costs on OKX, to take part in OKX's Jumpstart token launch platform, and to make benefits on OKX Earn.
The objective of X1 is to bring in designers to construct decentralized applications that can utilize OKX's user base which goes beyond 50 million around the world. As part of the collaboration, OKX will contribute engineering resources to boost Polygon's Chain Development Kit (CDK),
