Crypto Exchange OKX and Polygon Labs Launch X1 Testnet
OKX and Polygon Labs have announced the launch of the testnet for their zero-knowledge Layer 2 network called “X1.” This new network will be built with the Polygon Chain Development Kit (CDK) and will utilize OKX’s platform token, OKB, as its native token for paying gas fees.
X1 is an Ethereum-based ZK network that aims to enhance the technology stack for Ethereum scaling solutions. It will serve as OKX’s new native network and use ZK proofs to ensure security, scalability, and reduced transaction costs. The network will be compatible with Ethereum, allowing seamless deployment of EVM-based DApps and connectivity with smart contracts, wallets, and tools.
Jason Lau, chief innovation officer of OKX, stated that X1 will be a key pillar in their efforts to educate and bring users into the world of Web3. The price of OKB has also seen a 17.3% increase over the past seven days.
Polygon CDK Gains Traction
Polygon Labs released its CDK for developing Layer 2 blockchains on Ethereum powered by zero-knowledge proofs. These blockchains will have the ability to connect to a shared ZK bridge for interoperability. The co-founder of Polygon, Sandeep Nailwal, noted that X1’s use of Polygon CDK represents a significant leap forward in technology.
Looking ahead, chains deployed using Polygon CDK can interoperate within a larger network of ZK-powered L2s in the Polygon CDK ecosystem. Several Layer 2s are already being developed with the Polygon CDK, including Immutable zkEVM, IDEX, Palm Network, and Astar zkEVM.
Hot Take: Advancements in Zero-Knowledge Layer 2 Networks
The collaboration between OKX and Polygon Labs is a significant step towards advancing zero-knowledge Layer 2 networks. With X1’s utilization of Polygon CDK technology and its compatibility with Ethereum, developers have an opportunity to build user-friendly consumer Web3 applications while maintaining interoperability with other networks and ecosystems. This development signals further growth in the adoption and implementation of zero-knowledge solutions within the blockchain space.
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