OKX Launches X Layer: Revolutionizing Ethereum with Lower Fees and Seamless Interoperability

OKX, a cryptocurrency exchange, has recently launched its in-house Ethereum-based layer-2 network, X Layer, following the footsteps of Coinbase. This network aims to provide users with lower fees and improved interoperability when interacting with decentralized applications (DApps).

X Layer, powered by zero-knowledge proofs, went live on April 15 and was developed using Polygon’s chain development kit (CDK). It facilitates shared state and liquidity across various blockchain networks through the Ethereum scaling protocol’s Aggregation Layer.

By utilizing ZK-proofs, X Layer offers faster and more cost-effective transaction capabilities for on-chain applications, enhancing both security and scalability. It is also compatible with the Ethereum Virtual Machine (EVM), allowing developers to launch or migrate Ethereum-based DApps without the need to rewrite the underlying code.

Haider Rafique, OKX's chief marketing officer, emphasized the importance of layer-2 networks like X Layer in creating a seamless and interoperable Web3 ecosystem. He believes that X Layer's potential is limitless due to its strong community and connectivity with other Ethereum-based networks.

Since its beta launch in November 2023, X Layer has attracted over 50 Web3 DApps to its testnet, including popular names like the Graph, Curve, LayerZero, QuickSwap, Galaxy, and Timeswap. This proprietary layer-2 network will enable OKX users to transfer assets, deposit and withdraw cryptocurrencies, and access nearly 200 DApps offering token swaps, staking, and smart contract functionalities.

X Layer's native token, OKB, serves as the network's native token and is used for paying gas fees. The integration with Polygon's CDK is expected to benefit OKX, X Layer, and other chains connected to Polygon's AggLayer, creating an interconnected network of liquidity across different blockchain protocols.

Polygon CEO Marc Boiron believes that X Layer's connection to the AggLayer will solve liquidity fragmentation across chains, allowing them to grow together. This move aligns with VanEck's estimation that Ethereum layer-2 networks could surpass $1 trillion in market capitalization by 2030, highlighting their critical role in scaling Ethereum and enabling low-fee, secure, and decentralized transactions and applications.