OKX has announced its collaboration with Polygon Labs to introduce a new ZK-powered layer 2 network, X1, built using the Polygon Chain Development Kit (CDK). This initiative aims to enhance security, scalability, and lower transaction costs for developers within the Web3 ecosystem. Additionally, OKX will utilize its native token, OKB, for gas fees on its new native network X1.

OKX’s Contribution to Polygon CDK

As part of this partnership, OKX becomes a core contributor to the Polygon CDK. The crypto exchange will also invest engineering resources to further develop Ethereum scaling solutions. Jason Lau, OKX’s chief innovation officer, emphasized that X1 will serve as a cornerstone in their commitment to educating and transitioning users to Web3. The initiative is geared towards enabling developers to create user-friendly Web3 applications while ensuring interoperability with other networks and ecosystems.

Polygon Labs introduced the Polygon CDK for ZK-powered L2 chains on Ethereum, promising enhanced scalability and unified liquidity. Various platforms and firms, including Astar, Canto, Gnosis Pay, and IDEX, are looking to leverage this technology.

For more details, please visit the official announcement here.

FAQ

What is the collaboration between OKX and Polygon Labs about?

The collaboration is aimed at launching a ZK-powered layer 2 network, X1, using the Polygon Chain Development Kit (CDK) to enhance security and scalability within the Web3 ecosystem.

How will OKX’s native token, OKB, be utilized in this collaboration?

OKX will use OKB for gas fees on its new native network X1.

What is OKX’s role as a core contributor to the Polygon CDK?

As a core contributor, OKX will invest engineering resources to develop Ethereum scaling solutions and contribute to the advancement of the technology stack for Ethereum scaling solutions.

Who else is looking to leverage the Polygon CDK for ZK-powered L2 chains on Ethereum?

Various platforms and firms, including Astar, Canto, Gnosis Pay, and IDEX, are interested in leveraging this technology.