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Immutable X (IMX) is a layer-2 scaling solution for Ethereum, specifically designed for NFT (non-fungible token) platforms. It aims to provide gas-free transactions while ensuring the security of the main Ethereum network.
The primary goal of Immutable X is to address the environmental concerns and high gas fees associated with minting and trading NFTs on Ethereum. By utilizing a technology called Zero-Knowledge-Rollups, Immutable X can batch multiple transactions into a single proof, which is then posted to Ethereum. This reduces the overall energy consumption and transaction costs.
Apart from offering scalability solutions, IMX is also the native token of the Immutable X platform. It is used for governance, staking, and protocol fee payments within the ecosystem.
Given the growing popularity of NFTs and the environmental concerns surrounding blockchain technology, Immutable X positions itself as a sustainable and cost-effective solution for NFT platforms.
Above are only for introduction, not intended as investment advice.
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Immutable X (IMX) is a layer-2 scaling solution for Ethereum, specifically designed for NFT (non-fungible token) platforms. It aims to provide gas-free transactions while ensuring the security of the main Ethereum network.
The primary goal of Immutable X is to address the environmental concerns and high gas fees associated with minting and trading NFTs on Ethereum. By utilizing a technology called Zero-Knowledge-Rollups, Immutable X can batch multiple transactions into a single proof, which is then posted to Ethereum. This reduces the overall energy consumption and transaction costs.
Apart from offering scalability solutions, IMX is also the native token of the Immutable X platform. It is used for governance, staking, and protocol fee payments within the ecosystem.
Given the growing popularity of NFTs and the environmental concerns surrounding blockchain technology, Immutable X positions itself as a sustainable and cost-effective solution for NFT platforms.
Above are only for introduction, not intended as investment advice.