OKX Unveils X1, a ZK L2 Network Connecting Millions, Fueled by Polygon Labs

OKX, a leading global cryptocurrency exchange and Web3 ecosystem, has joined forces with Polygon Labs, a prominent international blockchain software technology company, to introduce the testnet for 'X1.'

This Ethereum-based Zero Knowledge (ZK) Layer-2 (L2) network, crafted using the Polygon Chain Development Kit (CDK), aims to revolutionize the Web3 landscape.

Geared towards developers, X1 offers an on-chain ecosystem to empower builders across decentralized finance (DeFi), enterprise, and various verticals. By connecting OKX's expansive user base of over 50 million with the Polygon and Ethereum communities, X1 aspires to be a catalyst for the future of Web3.

In a strategic collaboration, OKX is set to become a core contributor to Polygon CDK, investing substantial engineering resources to enhance Ethereum scaling solutions. In fact, X1 will leverage OKB, the platform token, as its native token, facilitating seamless transactions on the network.

X1 employs state-of-the-art Zero Knowledge proofs, ensuring high security, scalability, and reduced transaction costs. Compatible with Ethereum, it facilitates the deployment of EVM-based DApps and connectivity with a wide range of smart contracts, wallets, and tools.