The difficulty in completing multiple-chain asset transfers is holding back the cryptocurrency and blockchain industries. While numerous blockchain-based projects have tried to enable the decentralized exchange of assets between chains, every effort had proven futile until Friday, 3rd March 2023, when Layer One X (L1X), a comprehensive layer 1 blockchain achieved interoperability between EVM and non-EVM networks.
Layer One X is a nascent innovative network that seeks to deliver on all core blockchain features—interoperability, scalability, security, and decentralization—without trading off fundamental principles.
The Layer One X Blockchain—Benefits to Developers
Layer One X is a genuinely permission-less, safe, and decentralized blockchain that enables tokenization and micro-validation. While this groundbreaking blockchain will launch on the mainnet in Q3 of 2023 (August), it has made history as an innovative network in the cryptocurrency space.
Enabling the seamless exchange of assets between EVM and non-EVM networks is a game-changer in the industry. It will open countless possibilities for building scalable, connected, and sophisticated applications. With L1X’s recent innovation, blockchain networks can communicate, transact, and exchange tokens between themselves, indirectly creating new enterprise models and a whole new income streams for all blockchain-based companies and projects.
L1X’s feat in multiple-chain transfers is much safer than bridges. Crypto bridges are prone to attacks and are expensive, but until now have been the way for users to attempt multiple-chain assets transfers. However, L1X’s game-changing feature will provide a safer, decentralized, scalable, cheaper, and faster option. Additionally, it will allow developers to build more interoperable applications, effortlessly offering them access to a larger token pool. For users, this groundbreaking innovation will increase their choices and fast-track efficiency and capability.
L1X’s founder, Kevin Coutinho, had this to say about this unprecedented achievement in the blockchain industry; “We are excited for the opportunity this presents to allow projects and developers to build asynchronous features on blockchains through a decentralized source of truth.”
Upcoming Features and Updates
Scheduled to launch in Q3 of 2023, specifically in August, a private sale is currently ongoing and expected to end on Friday, 31st March 2023. Akin to most private sales, the L1X team offers potential investors early entry, supporting this revolutionary, cutting-edge project.
Layer One X was designed to deliver the blockchain quartets, and the team is working around the clock to realize that vision. The team aims to process over a hundred thousand TPS and will leverage billions of smartphones for micro-validation purposes. This unique mechanism will guarantee decentralized and faster transaction confirmations and will offer users rewards for their contributions to the network.
Layer One X is focused on introducing generic messaging and event-based interoperability, as revealed by the founder, Kevin Coutinho. “We are now focused on bringing generic messaging and event-based interoperability with the same virtual machine in the coming few months that will open markets such as decentralized identification and multi-chain utility.“
The decentralized exchange of tokens between EVM and non-EVM networks will prove to be a significant milestone in the blockchain industry. It will not only pioneer the development of new projects but will also foster global adoption, increase users’ choice pool, and provide real value to developers and users alike.