Immutable – the gaming engine behind Gods Unchained – has unveiled Immutable X for Layer 2 scalability.
Today we’re announcing that Immutable X, our ZK rollup engine for minting and exchanging NFTs on Ethereum, will be available to all developers worldwide. This is the most significant announcement in our company’s history, as we run with this industry into a new era.
— Immutable (@Immutable) October 21, 2020
Immutable X is a ZK rollup engine for minting and exchanging Non-fungible Tokens (NFTs). Immutable is collaborating with StarkWare, the creators of the ZK-STARKs technology, since May of this year.
Immutable X will be a non-custodial exchange, with zero gas cost for trading and support for both ERC20 and ERC721 token standards. The protocol can handle up to nine thousand transactions per second (TPS). It is not built on a centralized sidechain like some of its competitors. Trades will be settled instantly and cannot be reverted.
X Gonna Give it to Ya
Immutable X was created to counteract the high gas fees of creating, exchanging, and trading NFTs. They realized this conundrum when they wanted to take their game, Gods Unchained, mainstream. Gods Unchained is a NFT based card game akin to Blizzard’s Heartstone.
The team mocked the idea of switching away from the Ethereum, as Ethereum fits the ethos of Immutable. Ethereum is censorship resistant fully decentralized smart contract platform, and this is perfect for decentralized asset ownership of NFTs. Further, the explosion of DeFi has created a DeFi composibility which the team can use. The Immutable team sees the massive user base, along with an ever-growing developer base, as an added advantage to not abandon the Ethereum blockchain.
Developers and users can join the waitlist on Immutable’s website to get the Alpha Access while the team gears up for a Q4 2020 or Q1 2021 for a full public release.
In the meantime, be sure to stay up with Immutable on Twitter.
Tarang discovered ETH in 2018 and has been actively involved in DeFi after finding PoolTogether in 2019. He’s most interested in the DEX sector as a frequent user and participant in Uniswap and Kyber Network alongside lending protocols like Aave. Tarang’s active presence in DeFi has given him a front-row seat to cutting edge trends and real-time developments. Stay up with Tarang by following him on Twitter.