Crypto commerce OKX has teamed up with Polygon Labs to develop a new Layer 2 network called “X1.”

The information leaked on OKX’s legit web site on Tuesday revealed that X1 might per chance well be built on zero-files (ZK) technology, using Polygon’s (chain trend equipment) CDK.

The legit X account for OKX confirmed that the rumours had been correct in a social media put up, almost right this moment after which Polygon and OKX’s chief innovation officer made the announcement public as neatly.

X1’s trend on Polygon CDK will construct it integrated with the Polygon ecosystem and might per chance well composed be fully neatly matched with Ethereum Digital Machine (EVM) networks. OKX can even be a core contributor to the Polygon CDK draw and plans to invest “large engineering sources” to enhance the Ethereum scaling technology stack.

In maintaining with the accomplishing’s roadmap, the X1 testnet is already online and integration with decentralized purposes (dApps), efficiency stress testing and EIP-4844 growth would take negate through the last quarter of 2024.

OKX’s ERC-20 utility token OKB will back as the native token for the X1 chain and might per chance well composed be mature to pay transaction prices. The associated rate of OKB rallied 8% to an intra-day high of $64, earlier than settling all of the manner down to round $59 on the time of writing.

“With OKX’s user unsuitable and Polygon Labs’ tune account for building ZK-enabled blockchain protocols mature across the arena, X1 will likely be a in actual fact world platform for those devs ready to safely onboard the next billion customers across the globe including Hong Kong, Singapore, India, UK, and New York,” said Polygon Labs in a put up.