As part of the partnership, OKX will play a pivotal role as a core contributor to Polygon CDK while allocating significant engineering resources to boost the technology stack of Ethereum scaling solutions.
On Tuesday, November 14, OKX announced that it is introducing a Layer 2 network based on Ethereum’s zero-knowledge (ZK) technology, developed in collaboration with the Polygon Chain Development Kit (CDK). Additionally, OKX will play a pivotal role as a core contributor to the Polygon CDK.
X1 shall function as OKX’s latest native network, linking its extensive user base of over 50 million individuals to the wider Polygon and Ethereum communities. The native token for X1 will be OKX’s platform token, OKB, designed to cover gas fees on the network. Besides, an operational testnet for X1 is currently active.
X1, a cutting-edge and user-friendly protocol tailored for developers, creators, and Web3 enthusiasts, incorporates ZK proofs for enhanced security and scalability. Additionally, it also offers lowered transaction costs. Its compatibility with Ethereum ensures smooth and secure deployment of EVM-based decentralized apps (dApps). This way, it fosters connectivity with a diverse range of smart contracts, wallets, and tools. Speaking on the development, OKX Chief Innovation Officer Jason Lau said:
“X1 will be a key pillar of our efforts to educate and bring our users onchain 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. By collaborating with Polygon Labs, we look to bring more builders, more use cases, and ultimately the mass adoption of Web3.”
Becoming a Core Contributor to Polygon CDK
In the partnership, OKX will play a pivotal role as a core contributor to Polygon CDK. It will also allocate significant engineering resources to fortify the technology stack for Ethereum scaling solutions.
Polygon CDK facilitates a seamless process for developers to create and launch ZK L2s on Ethereum. It has gained traction among projects such as Near, Astar, Canto, Gnosis Pay, Palm, and IDEX. The vision is to establish interoperability among chains deployed through Polygon CDK, creating a unified network of ZK-powered L2s within the Polygon CDK ecosystem. Polygon co-founder Sandeep Nailwal said:
“The utilization of Polygon CDK technology represents a significant leap forward, enabling developers to design and deploy ZK L2 solutions on Ethereum with ease. 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.”
Read other blockchain news on Coinspeaker.
