What is ImmutableX?
Immutable X is an Ethereum-based NFT layer-2 scaling solution. It offers instant trade confirmation and near-zero gas fees for minting and trading NFTs.
Background
Immutable, a blockchain company, launched ImmutableX in 2018.
How Does It Work
Users can easily create and trade NFTs while protecting their assets. Immutable X uses a Zero-Knowledge Rollup engine to achieve scalability. It can process up to 9,000 transactions per second. Immutable X’s shared global NFT order book can increase NFT liquidity and trading volume while allowing NFT projects to grow exponentially.
IMX is the Immutable X platform’s native utility and governance token. It is used to pay transaction fees and as a user and developer incentive. Staking allows IMX holders to earn token rewards while participating in governance voting and submitting proposals for the future of Immutable X.
Key Takeaways
- ImmutableX is an NFT-focused Layer 2 for Ethereum.
- It uses a ZK rollup engine to achieve scalability.
- $IMX is their governance token.