OKX to launch X1 L2 network in partnership with Polygon

The cryptocurrency exchange OKX, in partnership with Polygon, launched a testnet L2-solutions X1.

OKX is using Polygon CDK to build a ZK-powered Layer 2 network that connects the 50 million+ OKX user base to the broader Ethereum community, to allow anyone to take part in a truly secure and unified global onchain ecosystem.

It’s called X1.@X1_Network will be a secure,… pic.twitter.com/1pxS9Tmx81

— Polygon (Labs) (@0xPolygonLabs) November 14, 2023

\n“X1 will be a secure and high-performance platform for building dapps. Gas will be paid in OKB, the native token of OKX,” the developers noted.

Based on zero-knowledge proofs, the network will be built using Polygon’s Chain Development Kit (CDK), with the exchange as a key participant. OKX also plans to ‘invest significant engineering resources to improve the technology stack for Ethereum scaling solutions’.

ZK developments are aimed at making the platform secure, reducing transaction costs. The network will be EVM-compatible, which will allow users to connect to a broad range of smart contracts, wallets and tools, according to OKX representatives.

Over the last seven days, the OKB token rose 15.6%, trading around $60 (data from CoinGecko).

Earlier in August, Polygon Labs introduced Polygon CDK. The modular, open-source framework allows any developer to launch their own L2 network, which will be connected to other chains via a common ZK bridge.

The solution is positioned as the evolution of the Supernets platform, which allows projects to use application-chain protocols similar to a sidechain.