IDEX will create its own L2 network based on Polygon


One of the oldest Ethereum exchanges – IDEX – started work over the solution of the second level of Xchain. It is based on Polygon’s zkEVM technology.

The test network has already been launched and runs on the Supernets infrastructure, which also allows you to create custom blockchains – appchains.

“Xchain represents the final element needed to compete with centralized exchanges,” said IDEX co-founder Alex Vern.

According to the developers, the new L2 solution will improve user experience and reduce transaction costs without sacrificing security. Xchain is designed to enable efficient trading of perpetual swaps on IDEX.

The zkEVM mainnet beta for Ethereum scaling went live in March. The first transaction was made by Vitalik Buterin.

The solution uses zero-knowledge proof technology (ZK-Rollups), performing off-chain calculations in the second level to reduce the cost and speed up transactions.

zkEVM is equivalent to EVMthat is, it supports the core network code and allows developers to use existing tools and infrastructure.

Recall that in June, the developers of Polygon Labs presented the architecture of the next iteration of the network of the same name.

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