OKX cryptocurrency exchange has launched its new Ethereum Layer-2 blockchain network with the help of Polygon CDK.
OKX is a cryptocurrency exchange based in Seychelles that offers trading in both spot and derivatives markets. It was founded by Star Xu in 2017 and is not accessible in the United States. Recently, this cryptocurrency exchange left the Indian cryptocurrency market.
On April 16, 2024, OKX Exchange announced the launch of the public mainnet of the Ethereum Layer 2 scaling network, called “X Layer”.
Hello Creators, Builders, Founders
X Layer mainnet is released to the public
With over 200 dApps deployed, X Layer is now accessible to everyone, not just developers.
Experience the performance and security of zkEVM L2 networks for yourself.
Start building:… pic.twitter.com/K59dg0sJrG
— X Layer (@XLayerOfficial) April 16, 2024
The team behind this blockchain network project used Polygon CDK and became one of the first teams to leverage Polygon's so-called AggLayer with OKX's X Layer.
With this new blockchain network, OKX exchange aimed to provide faster, cheaper and more scalable trading for cryptocurrency assets across cryptocurrency exchanges.
Haider Rafique, Chief Marketing Officer at OKX, said that X Layer's primary goal is to build an ecosystem featuring seamless integration and interoperability, and that X Layer demonstrates tremendous potential due to the strong community support fostered by OKX.
Coinbase's native network
Previously, the Coinbase cryptocurrency exchange launched an Ethereum layer 2 scaling network called “Base” in August 2023.
According to the report, the leadership of Base &
OKX leaves India
Following the Indian enforcement agency's regulatory action against cryptocurrency companies not registered with FIU, OKX cryptocurrency exchange has decided to cease its cryptocurrency operations in the country.
Meanwhile, KuCoin cryptocurrency exchange has been successfully registered with the Indian FIU department, demonstrating collaborative efforts with Indian government agencies.
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