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Joy
Tue, April 16, 2024 at 19:07
Joy
Hey Annie!
Guess what?
OKX, one of the world's largest crypto exchange companies, just launched the public mainnet of its EVM-compatible Layer 2 network, X Layer!๐
Annie
Oh wow, really?๐ฎ What does that mean exactly?
Joy
Well, in simple terms, a Layer 2 network is like a side road that helps reduce traffic on the main Ethereum highway.
It's designed to make transactions faster and cheaper.
X Layer is also EVM-compatible, meaning it can run Ethereum-based applications.
Annie
Ah, I see!
So it's like a shortcut for Ethereum transactions.
But what's this about it being 'ZK-powered'?
ADward
Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... ๐
Joy
Good question!
ZK stands for 'Zero Knowledge', a type of proof where one party can prove to another that they know a value x, without conveying any information apart from the fact they know the value x.
In other words, it's all about privacy and security.๐
Annie
Hmm... interesting!
And what about the dApps?
It says here that X Layer integrates with over 200 dApps?
Joy
Yep!
That's right.
X Layer integrates with over 200 decentralized applications (dApps) across various sectors like DeFi, wallets, NFTs and gaming among others.
Some popular DeFi dApps on X Layer include Chainlink, Curve, Renzo, and QuickSwap.
Annie
Wow, that's a lot!
And what's the role of OKB, the native OKX token, in all of this?
Joy
Great question!
OKB will serve as the native asset of the X Layer network.
Users will leverage the token for transaction fees on the network.
So, it's pretty important!๐ฐ
Annie
I see...
So, is this good news or bad news for the market?
Joy
Oh, it's definitely good news!
This could potentially unlock and accelerate the adoption of Web3 economy.
Plus, it makes transactions cheaper and faster for millions of people.
So yeah, it's a win-win situation!๐
To sum up, this article is considered a ๐Bullish for investors!!