KEY POINTS
OKX, the fourth-largest crypto exchange, has today unveiled the launch of X Layer, a layer-2 blockchain.
For the launch of X Layer, previously identified as X1, OKX has adopted the Chain Development Kit (CDK), a toolkit from Polygon that enables developers to create L2 chains using advanced zero-knowledge technology.
Layer-2 Adoption Gains Momentum
The decision to adopt CDK is in line with a wider trend in the industry, where leading crypto exchanges are taking the initiative to develop their own layer-2 networks.
Last year, this trend gained momentum with Coinbase unveiling its “Base” blockchain, engineered atop Optimism’s OP Stack. Similarly, reports suggest Kraken is exploring the possibility of establishing its layer-2 blockchain.
The Significance of the Integration
X Layer is poised to integrate into Polygon’s extensive ecosystem via the AggLayer. This element of Polygon’s services is intended to centralize liquidity across various chains created using the platform’s technology.
During a media session briefing, the chief executive of Polygon Labs, Mark Boiron, pointed out that the integration is aimed at providing OKX’s extensive user base of 50 million with simplified access to interact with X Layer and its wide network of chains linked through AggLayer.
Following its initial testnet release in November 2023, X Layer has been at the forefront of enabling access to a suite of more than 200 decentralized applications (dApps) and anticipates further expansions in the near future.
Haider Rafique, the Chief Marketing Officer of OKX, expressed his perspective in the official statement, emphasizing their belief in X Layer and comparable layer-2 chains as the fundamental framework of the Web3 domain.
