The launch of OKX coincides with the pursuit of layer 2 network development by other significant cryptocurrency exchanges, such as Coinbase and Kraken, during the past year.
Stay in the know on crypto by frequently visiting Crypto News Today
The fourth-largest cryptocurrency exchange, OKX, announced that the public mainnet of its new layer-2 blockchain, dubbed X Layer, has gone live. This is an extension of the trend where big cryptocurrency companies have started their own distributed networks.
CryptoCaster Quick Check:
X Layer, formerly known as X1, leverages Polygon’s Chain Development Kit (CDK), an adaptable toolkit that enables developers to use zero-knowledge technology to create their own chains.
The announcement coincides with the pursuit of layer-2 networks by other significant cryptocurrency exchanges over the past 12 months. Optimism’s OP Stack is the foundation of Coinbase’s “Base” blockchain, which was introduced in August. It has been reported that Kraken is considering developing its own layer-2 blockchain.
According to a press release from OKX, X Layer will be connected to Polygon’s larger ecosystem through the AggLayer, and its developers will be contributing to the CDK’s codebase. AggLayer is a Polygon product designed to combine liquidity from different chains that have been spun up with the help of the project’s technology.
According to Polygon Labs Chief Executive Officer Mark Boiron, “OKX’s 50 million users now have an easy path to onboarding to X Layer and all the other chains connected to the AggLayer.”
Users of X Layer, which went live on the testnet in November, will have access to more than 170 decentralized apps (dapps), with more scheduled to launch shortly.
According to the press release, OKX Chief Marketing Officer Haider Rafique stated, “We envision X Layer and other layer-2 chains as the highway infrastructure of the Web3 world, with dApps as the marketplaces and self-hosted wallets as the vehicles that take you there.”
If this article brought you clarity, insight, or value—support the work that made it possible.
At CryptoCaster, we report on Web3, crypto markets, and institutional finance with no billionaire owners, no shareholders, and no hidden agenda. While mainstream media bends toward Elon Musk, BlackRock, and JPMorgan narratives, we stay focused on what matters: truth, transparency, and the public interest.
We don’t just cover the headlines—we investigate the power structures behind them. From FTX and Ripple to the quiet push for CBDCs, we bring fearless reporting that isn’t filtered by corporate interests.
CryptoCaster is 100% paywall-free. Always has been. To keep it that way, we depend on readers like you.
If you believe independent crypto journalism matters, please contribute—starting at just $1 in Bitcoin or Ether. Wallet addresses are below.
Your support keeps us free, bold, and accountable to no one but you.
Thank you,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
CRYPTOCASTER HEATMAP
