OKX Launches a ZK Layer 2 Network

OKX and Polygon Labs have launched the testnet for their new zero-knowledge Layer 2 network, called “X1”. The network will use OKB, OKX’s platform token, as its native token for gas fees.

According to OKX, X1 will be built on the Polygon Chain Development Kit (CDK) and the exchange plans to invest significant resources to improve the technology.

X1 will be the new native network for OKX and will use ZK proofs for enhanced security and scalability, resulting in lower transaction costs.

The network is compatible with Ethereum, allowing for easy deployment of EVM-based dApps and connectivity with various smart contracts, wallets, and tools.

Jason Lau, chief innovation officer of OKX, stated that X1 will play a crucial role in their efforts to educate and onboard users into the world of Web3.

He added that the network is suitable for developers to build user-friendly consumer Web3 applications while maintaining interoperability with other networks and ecosystems.