- OKX is launching X1, a ZK-powered Layer 2 network using Polygon CDK, bridging its 50 million+ users with the Ethereum ecosystem.
- X1 offers a high-performance platform for dApp development, with unique features like gas fees in OKB and enhanced liquidity access for Ethereum developers.
Bridging Communities for Enhanced Blockchain Interoperability
In a significant move for the blockchain industry, OKX, a leader in cryptocurrency exchange, is leveraging Polygon CDK to create X1, a Zero-Knowledge (ZK) proof-powered Layer 2 network. This initiative aims to seamlessly connect OKX’s extensive user base of over 50 million with the broader Ethereum community, fostering a unified, secure, and global on-chain ecosystem.
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
A Platform for Next-Gen dApps
X1 is set to be a robust and secure platform for decentralized application (dApp) development, where transaction fees are paid using OKX’s native token, OKB. This integration allows OKX users to access Ethereum’s liquidity and soon, other CDK chain liquidity. For Ethereum developers, X1 provides a decentralized protocol to build innovative dApps, ranging from DeFi to social applications, which were previously challenging to implement on OKX due to technical constraints.
OKX’s position as one of the most prominent exchanges in spot and derivative trading globally, combined with its advanced multi-chain wallet, simplifies the process for users to bridge to X1. This integration further strengthens the connection with the broader Polygon ecosystem.
The Benefits for Developers
The development of X1 marks OKX’s entry as a core contributor to the Polygon CDK, joining forces with other protocols like NEAR. This collaboration entails dedicating engineering resources to enhance the toolkit, leading to improved configs and tools for future chain development using Polygon CDK. This collective effort is set to accelerate the pace and quality of development within the Polygon ecosystem:
The utilization of Polygon CDK technology represents a significant leap forward, enabling developers to design and deploy ZK L2 solutions on Ethereum with ease,” Polygon co-founder Sandeep Nailwal said. “Looking ahead, Polygon CDK-deployed chains can interoperate and coexist within a larger network of ZK-powered L2s in the Polygon CDK ecosystem. We’re excited to collaborate with OKX’s team to advance this technology and drive the success of the X1 network.
For dApp developers, the collaboration between OKX’s extensive user base and Polygon Labs’ expertise in building ZK-enabled blockchain protocols offers a promising global platform. X1 will facilitate developers in securely onboarding users from diverse markets, including Hong Kong, Singapore, India, the UK, and New York.
Polygon CDK simplifies building on X1, offering ZK-proof security and EVM bytecode compatibility. This ensures that deploying dApps on X1 is both secure and seamless. Looking ahead, the interoperability of Polygon CDK-built chains promises near-instant cross-chain transactions, freeing developers to focus on innovation and use-case development rather than user acquisition.
