Crypto Exchange OKX’s Polygon-Powered Layer 2, ‘X Layer,’ Hits Public Mainnet
The news about X Layer comes as other major cryptocurrency exchanges, like Coinbase and Kraken, have also pursued their own layer 2 networks over the last year.
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Polygon labs
The news about X Layer comes as other major cryptocurrency exchanges, like Coinbase and Kraken, have also pursued their own layer 2 networks over the last year.
Immutable and Polygon Labs will identify investment opportunities while King River will manage the investment process and deploy the capital across game studios and web3 infrastructure firms.
By plugging into the AggLayer, Astar users will have access to the liquidity in the Polygon ecosystem, allowing cross-chain transactions between Astar and Polygon zkEVM, making the experience feel like a single chain.
The announcement means that existing EVM chains or optimistic rollups can connect to the prover without modification, then plug into Polygon’s newly released Aggregation layer, providing access to “all of the liquidity and value on Ethereum itself,” Polygon said.
The Ethereum-focused developer firm attributes the layoffs to working more effectively, rather than financial reasons.
The new “AggLayer,” set for launch next month, relies on zero-knowledge proofs, a type of cryptography that Polygon Labs is betting on as a core underpinning of future blockchain architecture.
Developers building on Polygon’s zkEVM will be able to incorporate these data feeds into their on-chain applications.
Polygon Labs is offering a total of 110 million of its native token, MATIC, to projects in DeFi, gaming and social media, among others.
The management changes come as Polygon, which runs two of the most closely watched networks for scaling Ethereum transactions, is in the midst of a rebrand to the next chapter of its corporate development, known as “Polygon 2.0.”
The new Ethereum scaling solution’s architecture will include a shared bridge and a “coordination layer” that connects all of Polygon’s chains, including an emphasis on zero-knowledge technology that has become one of this year’s hottest blockchain trends.