In a significant development for the blockchain space, the global crypto exchange OKX has announced the launch of X1, a new Zero-Knowledge (ZK) powered Layer-2 network. This innovative platform is designed to bridge the OKX and Ethereum communities, providing a seamless and efficient experience for both users and developers within a unified global on-chain ecosystem.
By leveraging cutting-edge ZK technology, X1 establishes a high-performance Layer-2 solution that connects directly to Ethereum. This architecture is engineered to deliver near-instant transaction finality, unified liquidity across chains, and robust independent data availability.
Core Features and Technological Advantages
X1 integrates natively with the OKX ecosystem through OKB, its native utility token. This allows users to effortlessly transfer value between the OKX exchange and the X1 network, significantly enhancing asset interoperability and fluidity across different blockchain environments.
A key advantage for developers is the platform's full compatibility with the Ethereum Virtual Machine (EVM). This compatibility makes it simple and straightforward for developers to port over and deploy their existing smart contracts without the need for extensive rewrites or modifications.
Enhanced Efficiency and User Experience
The platform addresses one of the most persistent pain points in the Ethereum network: high gas fees. X1 boasts a dramatic reduction in these costs, potentially lowering them by as much as 1%. This substantial decrease is expected to make transactions far more cost-effective for everyone, from everyday users to large-scale application developers.
Furthermore, X1 is constructed with modular infrastructure components. It serves as a gateway to the broader Web3 ecosystem directly through the widely-used OKX Wallet, enabling the creation of next-generation decentralized applications (DApps) in a streamlined and optimized environment. For those looking to dive deeper into such innovative ecosystems, you can explore the official network gateway.
Current Development and Future Roadmap
The X1 testnet is currently live and undergoing rigorous testing phases. These include performance stress tests, comprehensive stability assessments, integration with a variety of dApps, and continuous optimization efforts. The development team is focused on refining and enhancing the platform's capabilities.
The mainnet launch for X1 is strategically planned for the first quarter of 2024. This major milestone is anticipated to include the rollout of essential native components such as a wzkBridge for cross-chain connectivity, a zkOracle for secure external data, and a zkDEX for decentralized trading.
This launch is expected to be accompanied by deployments from key partner projects, who will bring their DApps to the X1 mainnet, marking a pivotal moment in the platform's growth and adoption.
Frequently Asked Questions
What is the X1 network?
X1 is a Zero-Knowledge (ZK) technology-based Layer-2 blockchain network developed by OKX. It is designed to connect the OKX and Ethereum ecosystems, offering users and developers faster transactions and significantly lower fees while maintaining high security and compatibility.
How does X1 reduce gas fees?
X1 utilizes ZK-rollup technology to bundle numerous transactions off-chain and then submit a single cryptographic proof to the Ethereum mainnet. This process drastically reduces the data load and computational effort required on-chain, leading to a reduction of up to 1% in gas costs compared to typical Layer-1 Ethereum transactions.
Is X1 compatible with existing Ethereum tools?
Yes, absolutely. X1 is fully compatible with the Ethereum Virtual Machine (EVM). This means developers can use familiar tools like MetaMask, Hardhat, and Remix to build and deploy their smart contracts on X1 with minimal changes to their existing codebase.
What is OKB's role on the X1 network?
OKB functions as the native token within the OKX ecosystem and is integral to the X1 network. It is used for paying transaction fees (gas), transferring value between the OKX exchange and the X1 chain, and participating in the network's governance and security mechanisms.
When will the X1 mainnet be launched?
The current plan is for the X1 mainnet to go live in the first quarter of 2024. Prior to this, the project is running on a testnet where users and developers can experiment and where the team is conducting final tests and optimizations.
Can I develop my DApp on X1?
Yes, developers are encouraged to build on X1. Its EVM compatibility makes it easy to migrate existing projects, and its low-cost environment is ideal for developing new, innovative DApps. You can access developer resources and tools to get started on the testnet today.