2024-04-16
OKX has joined the ranks of other major cryptocurrency exchanges, such as Coinbase and Kraken, by launching its own layer 2 network called X Layer.
This move signifies the ongoing trend of crypto companies establishing their own distributed networks.
X Layer, previously known as X1, leverages Polygon's Chain Development Kit (CDK), a versatile toolkit that enables developers to construct their own chains using zero-knowledge technology.
The introduction of X Layer coincides with the efforts of other prominent crypto exchanges to establish their own layer 2 networks in the past year.
Coinbase, for instance, introduced its "Base" blockchain, built on Optimism's OP Stack, while Kraken is reportedly exploring the creation of its own layer 2 blockchain.
According to OKX's press release, the exchange's developers will contribute to CDK's codebase, and X Layer will integrate with Polygon's broader ecosystem through the AggLayer.
AggLayer, a Polygon offering, aims to unify liquidity across various chains created using the project's technology.
Polygon Labs CEO Mark Boiron stated, "OKX's 50 million users now have a seamless path to onboard to X Layer and all the other chains connected to the AggLayer."
Having launched on testnet in November, X Layer enables users to access over 170 decentralized applications (dapps), with more expected to be released soon.
"We see X Layer and other layer 2 chains as the highway infrastructure of the Web3 world, with dApps as the marketplaces and self-hosted wallets as the vehicles that take you there," remarked OKX CMO Haider Rafique in the press release.
