ImmutableX is a Layer-2 scaling solution for Ethereum that aims to provide fast and secure trading of non-fungible tokens (NFTs) and other ERC-20 tokens moreImmutableX is a Layer-2 scaling solution for Ethereum that aims to provide fast and secure trading of non-fungible tokens (NFTs) and other ERC-20 tokens. The platform uses zk-rollups technology to achieve scalability without compromising security or decentralization.
The benefits of ImmutableX are:
1. Scalability: ImmutableX can process up to 9,000 transactions per second (TPS), which is orders of magnitude higher than the capacity of the Ethereum mainnet.
2. Low fees: Transactions on ImmutableX are cheap, with fees as low as $0.00002 per transfer, thanks to the platform's off-chain batching system.
3. Instant finality: Transactions on ImmutableX are confirmed instantly and it would take just a few minutes to cash out.
4. High throughput: The platform has been designed to handle high volumes of transactions, which makes it suitable for large-scale applications.
The native token of ImmutableX is called IMX, which has several use cases on the platform. IMX can be used to pay for transaction fees, as well as to participate in platform governance and to receive a share of trading fees. IMX is also used as collateral for traders to create markets, and those who hold IMX can earn rewards through staking.
ImmutableX has already gained traction among prominent players in the NFT space, including OpenSea, SuperRare, and Nifty Gateway, among others. With its impressive scalability, low fees, and instant finality features, it has the potential to become one of the leading platforms for NFT marketplaces and other high-volume ERC-20 token trading applications.
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