- OKX is collaborating with Polygon Labs to launch a new ZK-powered layer 2 network.
- X1 will become OKX’s native network and utilise OKB for gas fees.
- OKX also joins other platforms as a core contributor of the Polygon CDK.
OKX and Polygon Labs are collaborating on a new zero knowledge-powered layer 2 network, whose testnet was announced today.
The Ethereum-based ZK network is built using the Polygon Chain Development Kit (CDK) and utilise the native OKX token OKB for gas fees. X1 becomes OKX’s new native network, the firm said in an announcement.
📣 Hot Off The Press 📣
We’re thrilled to introduce #X1, our new Ethereum L2 network built on Polygon’s CDK.
Our landmark collab. with @0xPolygonLabs empowers next gen. devs. with increased security, scalability & low transaction costs to BUIDL the future of Web3.
— OKX (@okx) November 14, 2023
OKX becomes core contributor to Polygon CDK
As part of the partnership, OKX becomes a core contributor to the Polygon CDK. Other than that, the crypto exchange will invest its engineering resources in developing “the technology stack for Ethereum scaling solutions.”
“X1 will be a key pillar of our efforts to educate and bring our users on-chain and into the world of Web3. This scalable and accessible network is perfect for developers, who can build on X1 to deliver user-friendly world-class consumer Web3 applications, all while maintaining interoperability with other networks and ecosystems,” said Jason Lau, OKX’s chief innovation officer.
“By collaborating with Polygon Labs, we look to bring more builders, more use cases, and ultimately the mass adoption of Web3,” he added.
Polygon Labs unveiled the Polygon CDK for ZK-powered L2 chains on Ethereum in late August, promising developers and enterprises more scalability and unified liquidity.
Some of the blockchain platforms and firms looking to tap into the technology include Astar, Canto, Gnosis Pay, and IDEX.
The post OKX launches ZK-powered L2 network built with Polygon CDK appeared first on CoinJournal.
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Author: Benson Toti
