- It aims to improve UX, security measures and reduce transaction costs
- It is one of the first blockchains based on Polygon Supernets
- Public access to the network is promised soon
The decentralized exchange IDEX announced the launch of an L2 solution last night, June 6. This is a test network called Xchain. The solution is based on zkEVM technology and the Polygon Supernets software stack.. Supernets are an integral part of the Polygon 2.0 strategy.
We have previously covered this concept in detail, as well as developers’ plans for the near future.. As for the Xchain project, this is how Alex Vern, co-founder of the exchange, commented on its creation:
“Launching our own network is an important element of continuing to compete with the large centralized exchanges.”
The IDEX noted that Xchain is designed to solve two important problems – eliminate some security trade-offs and reduce transaction costs.. The organization describes the network as the best solution to achieve UX and CEX-like price parity without compromising data protection measures.</nbsp;
The network offers the following benefits:
- Gas-free settlement;
- High security Ethereum;
- Ability to integrate additional dApps;
- Full implementation in the Polygon 2.0 ecosystem.</nbsp;
The network is in closed testing.. Public access is promised in the near future.