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Layer One X

Layer One X (L1X) is a layer one protocol that allows developers to build once and access users and liquidity across other . Launched on the in August 2023, L1X is supported by its custom-built Virtual Machine and Consensus Mechanism to give developers and projects with an efficient and effective experience. [1][2][3][5]

Overview

Founded by in Perth, Western Australia, Layer One X (L1X) enables bridgeless connectivity between previously incompatible chains. Enabling the effective exchange of tokens, , and logic, fostering collaboration cross-chain. [3][4]

"Layer One X is the solution to unite all blockchains. Our next-generation protocol breaks down barriers between chains, enabling lightning-fast, secure, and affordable transactions across any blockchain." - the website says[1]

Layer One X addresses issues with blockchain regarding:

Decentralization

L1X ensures decentralization without the control of mining pools or token holders by using a hybrid consensus mechanism called proof of participation, which combines proof of stake for Full Nodes and proof of validation for mobile-enabled transaction validation. Over 10,000 combined nodes will serve as validators from the network's launch. The platform offers high security through its innovative consensus mechanism and integrity-based validation process, ensuring stability even if devices drop off the network. [4]

Scalability

L1X uses mobile device validation for a highly scalable network with fast confirmations and high throughput, aiming for over 100,000 transactions per second at launch. The network creates blocks in less than 500 milliseconds and offers transaction costs of less than $0.00001. [4]

Interoperability

L1X facilitates value exchange across blockchains using a single protocol and is designed to be applicable to any blockchain network, whether public, private, or hybrid. It supports various industries, including financial services, supply chain, logistics, healthcare, and government. The platform's interoperability benefits from a unified security layer while allowing developers and projects to customize their consensus architecture as needed. [4]

Migration

L1X allows migration using to define business rules, with support for APIs, Rust, and Javascript. It is -compatible, enabling immediate migration of EVM projects to benefit from low fees, fast transactions, and interoperability. This platform helps businesses reduce upfront and maintenance costs effectively. [4]

X-Talk

Launched in September 2023, X-Talk is a Virtual Machine poised to redefine cross-chain interoperability. Layer One X addresses interoperability challenges with X-Talk, a method operating at the smart contract level, providing native-direct connectivity between different chains. Unlike traditional bridges that involve intermediaries and centralization risks, X-Talk offers a secure and efficient solution for cross-chain asset and data transfers by eliminating these concerns. [7]

, the Founder of Layer One X, emphasizes the significance of this innovation:

“Layer One X is committed to creating solutions that encourage collaboration, innovation, and mass adoption of blockchain technology.”[7]

X-Talk's Virtual Machine facilitates effective communication and data sharing across multiple blockchains on different networks. It allows direct digital asset exchange and cross-chain smart contract execution without requiring third-party custody. This native interoperability supports connections to any chain, whether private, public, EVM, or non-EVM, ensuring maximum flexibility and versatility. [7][8]

Layer One X-Talk also integrates with major blockchain networks, including  (ETH),  (Avax),  (Matic), , and . [7][8]

Partnerships

Layer One X & Digalabs

In July 2023, Layer One X partnered with Digalabs, a blockchain gaming company to create cross-chain gaming assets. [6]

"Layer One X’s advanced scalability solutions enhance Digalabs’ offerings, ensuring a smooth and uninterrupted gaming experience for players. The ability to handle high transaction volumes with low fees further amplifies the appeal of both projects, attracting more users and developers into the ecosystem. Gamers can indulge in seamless gameplay without interruptions, while developers can unleash their creativity without limitations." - the press release stated[6]

Layer One X & Omchain

In December 2023, Omchain partnered with Layer One X to issue Digital IDs for 15M users using L1X infrastructure. This enhances access to governmental and banking services, among others. [9]

Omchain is a layer one blockchain based out of Turkey. The partnership was done to utilize its infrastructure to issue Digital IDs that will allow the ID Holders to make use of Governmental, Educational, Banking, and other services in Turkey. This establishes a pathway to introduce ID holders to other applications and services on Layer One X, closing the gap on Digital Identity. [9]

Layer One X & Shufl

In June 2024, L1X announced a strategic partnership with Shufl, an emerging player in the marketplace. The collaboration would leverage Layer One X's blockchain technology to enhance Shufl's platform, positioning it as the premier multi-chain NFT marketplace. [10]

"Layer One X is Committed to its Ecosystem Grant Pool and building the first of its kind Multi-Chain Applications and Shufl app with its Multi-Chain NFT marketplace is a firm step towards the multi-chain vision" affirmed , Founder of Layer One X.

"By integrating our robust X-talk blockchain core technology, we're empowering Shufl to offer a seamless, secure, and efficient NFT trading experience across multiple chains, instilling confidence in the strategic direction of this partnership." [10]

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Layer One X

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Edited On

July 18, 2024

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