OKX Releases Ethereum Layer 2 Testnet Network “X1” With Polygon CDK

Last Updated:
OKX Releases Ethereum Layer 2 Testnet Network “X1” With Polygon CDK
  • OKX launched the testnet for its zero-knowledge L2 network named “X1”, built with the Polygon CDK.
  • The native utility token of OKX, OKB, will be used to pay for X1 gas fees.
  • In constructing X1, OKX contributes to the development of configurations via the Polygon CDK—alongside NEAR Protocol.

Crypto exchange OKX and Polygon Labs have introduced the testnet for “X1,” a new Ethereum-based zero-knowledge (ZK) Layer 2 network. Developed using the Polygon Chain Development Kit (CDK), X1 will debut as a zkEVM validium.

In a press release through the OKX website, the exchange asserted that this new development opens doors for users and engineers to access the world’s largest blockchain ecosystems. OKX Chief Innovation Officer Jason Lau also emphasized X1’s role in onboarding users into the Web3 world, saying:

X1 will be a key pillar of our efforts to educate and bring our users onchain and into the world of Web3… By collaborating with Polygon Labs, we look to bring more builders, more use cases, and ultimately the mass adoption of Web3.

Star Xu, CEO of OKX, expressed his delight with the recent partnership through an X (formerly known as Twitter) post. He further noted that OKX will benefit from Polygon’s “amazing zkEVM technology.”

Polygon Co-Founder Sandeep Nailwal said in a statement that X1’s use of Polygon CDK technology marks a significant leap forward. He further underscored that the X1 network will provide developers with an “affordable and user-friendly platform to create decentralized apps.” 

Moreover, Nailwal wrote on his X account that the “integration of X1 into the Polygon Ecosystem significantly enhances the ecosystem’s network effects.”

Furthermore, Polygon Labs detailed in the X announcement that with the development of X1, OKX joins the decentralized application platform NEAR Protocol—alongside other protocol engineers. As  a result, they contribute to the development of configurations and tools for chains via the Polygon CDK.

It’s worth mentioning that Polygon and NEAR Protocol announced their plans for a partnership in building a new zkWasm on November 8. This integration will allow any WebAssembly chain to prove itself in the Ethereum ecosystem while maximizing the security components of Layer 2.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.