OKX, a prominent cryptocurrency exchange, has followed in the footsteps of industry giants like Coinbase by introducing its own Ethereum-based layer-2 network. Named X Layer, this network aims to provide users with reduced fees and improved interoperability when interacting with decentralized applications (DApps).

The public mainnet of X Layer was unveiled on April 15, leveraging zero-knowledge proof technology and Polygon's chain development kit (CDK) to facilitate shared state and liquidity across multiple blockchain networks via Ethereum's scaling protocol Aggregation Layer. By harnessing ZK-proofs, a technology widely adopted by Ethereum layer-2 networks, X Layer promises enhanced security and scalability for transactions.

Notably, X Layer remains Ethereum Virtual Machine (EVM)-compatible, allowing developers to seamlessly deploy or migrate Ethereum-based DApps without the need for extensive code rewrites. According to Haider Rafique, OKX's chief marketing officer, X Layer represents a critical component in fostering an interconnected Web3 ecosystem, offering limitless potential for innovation and collaboration.

Since its beta launch in November 2023, X Layer has attracted over 50 Web3 DApps to its testnet, including prominent platforms like the Graph, Curve, and QuickSwap. These DApps, alongside others, are now poised to leverage X Layer's capabilities for faster and more cost-effective transactions.

Moreover, X Layer integration promises significant benefits for OKX users, enabling seamless asset transfers, cryptocurrency deposits and withdrawals, and access to nearly 200 DApps offering various functionalities such as token swaps and staking. The native token of OKX, OKB, will serve as the native token for X Layer, facilitating gas fee payments within the network.

With Polygon's CDK facilitating connectivity between X Layer and other chains integrated with the Aggregation Layer, OKX aims to create an interconnected network of liquidity across diverse blockchain protocols. This move aligns with Polygon CEO Marc Boiron's vision of overcoming liquidity fragmentation and fostering collaborative growth within the blockchain ecosystem.

As Ethereum layer-2 networks continue to gain traction, industry experts foresee substantial growth potential, with estimates suggesting a market capitalization exceeding $1 trillion by 2030. These networks play a pivotal role in Ethereum's scalability journey, facilitating secure, low-fee transactions, and empowering decentralized applications to thrive in the evolving digital landscape.