Coin Edition -
- OKX launched the testnet for its zero-knowledge L2 network named “X1”, built with the Polygon CDK.
- The native utility token of OKX, OKB, will be used to pay for X1 gas fees.
- Polygon Labs said that OKX joined NEAR Protocol and other protocol engineers in constructing X1.
Crypto exchange OKX and Polygon Labs have introduced the testnet for “X1,” a new Ethereum-based zero-knowledge (ZK) Layer 2 network. Developed using the Polygon Chain Development Kit (CDK), X1 will debut as a zkEVM validium.
In a press release through the OKX website, the exchange asserted that this new development opens doors for users and engineers to access the world’s largest blockchain ecosystems. OKX Chief Innovation Officer Jason Lau also emphasized X1’s role in onboarding users into the Web3 world, saying:
X1 will be a key pillar of our efforts to educate and bring our users onchain and into the world of Web3… By collaborating with Polygon Labs, we look to bring more builders, more use cases, and ultimately the mass adoption of Web3.
Star Xu, CEO of OKX, expressed his delight with the recent partnership through an X (formerly known as Twitter) post. He further noted that OKX will benefit from Polygon’s “amazing zkEVM technology.”
Polygon Co-Founder Sandeep Nailwal said in a statement that X1’s use of Polygon CDK technology marks a significant leap forward. He further underscored that the X1 network will provide developers with an “affordable and user-friendly platform to create decentralized apps.”
Moreover, Nailwal wrote on his X account that the “integration of X1 into the Polygon Ecosystem significantly enhances the ecosystem’s network effects.”
I’m super excited to see @okx launch an ETH L2 called X1 @X1_Network, using @0xPolygon CDK. OKX is one of the largest exchanges globally, boasting over 50 million users, with more than 22 million monthly users and over 25 billion in assets. By trading volume, OKX stands as the… pic.twitter.com/aC5sO0YjtV— Sandeep Nailwal | sandeep. polygon