One of the oldest Ethereum exchanges — IDEX — began work on second-layer solution Xchain. It is based on Polygon’s zkEVM technology.
The testnet is already live and runs on Supernets infrastructure, which also enables creating customizable blockchains — appchains.
“Xchain represents the final piece needed to compete with centralized exchanges,” said IDEX co-founder Alex Vern.
According to the developers, the new L2 solution will improve user experience and reduce transaction costs without compromising security. Xchain is designed to enable efficient trading of perpetual swaps on IDEX.
The beta version of the zkEVM mainnet for Ethereum scaling started in March. The first transaction was made by Vitalik Buterin.
The solution uses zero-knowledge proofs technology (ZK-Rollups), performing off-chain computations on the second layer to reduce costs and speed up transactions.
The zkEVM is equivalent to the EVM, meaning it supports the mainnet code and allows developers to use existing tools and infrastructure.
In June, Polygon Labs unveiled the architecture of the next iteration of the network bearing the same name.