What is Immutable X NFT platform ? Immutable X simply Explained In 3 Minutes.
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Immutable X is a layer 2 scaling solution for non-fungible tokens on Ethereum. It aims to improve Ethereum’s scalability and user experience.,
Immutable X was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly. It offers instant transaction confirmation and near-zero gas fees for minting and trading NFTs. Users can easily create and trade ERC-721 and ERC-20 tokens at lower costs without compromising the security of their assets.
At the core of Immutable X is a scaling technology called Zero-Knowledge Rollup, which is a layer 2 protocol for validating transactions on the Ethereum blockchain.,
Instead of adding every transaction data to the blockchain, ZK-Rollup batches hundreds of transactions into a single zero-knowledge proof known as the zk-STARK proof. It can provide Immutable X transactions with increased levels of privacy and security.,
NFTs users trade or mint on Immutable X are 100% carbon-neutral.
To facilitate a third-party NFT marketplace ecosystem, Immutable X provides a global order book that allows NFTs to be bought and sold on any marketplace that implements their scaling solutions. This means that orders created in one marketplace can be filled in another, effectively increasing the trading volume and liquidity of NFTs. Immutable X also supports all desktop Ethereum wallets. Users can seamlessly trade NFTs on different NFT-enabled crypto wallets without moving their assets across networks.,
IMX is the native token of Immutable X. It’s an ERC-20 utility and governance token with a 2 billion total supply. IMX is used to pay for transaction fees and incentivize users and developers on Immutable X. They can earn IMX tokens by contributing to the platform’s growth, such as trading NFTs and building applications.,
As a utility token, IMX allows token holders to earn rewards through staking in reward pools. They can also participate in the governance of Immutable X by submitting and voting on community proposals. The more IMX coins they hold, the greater their voting power.,
