Immutable X positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable X, the blockchain eliminates Ethereum’s limitations such as low scalability, poor user experience, lack of liquidity, and slow developer experience. Instead, users can enjoy zero gas fees for minting and trading NFTs without compromising user or asset security, benefiting from instant trading and massive scalability. To achieve this, Immutable X is built with STARK zk-rollups, a technology that Vitalik Buterin views as a “one-size-fits-all” solution for Ethereum.
What is Immutable X (IMX)?
Thanks to this technology, users can create and distribute assets like ERC-20 and ERC-721 tokens at scale. Chris Clay, Director of Gods Unchained, a project built on Immutable X, stated that Immutable X has enabled Gods Unchained to implement a new meta system that was previously impossible. In this way, Immutable X aims to create a first-class experience for both users and developers.
Immutable X leverages the advantages of being one of the first layer-two solutions using zk-rollups and focusing solely on NFTs. With zk-rollups becoming an increasingly important scaling solution, the project is positioned at the cutting edge of development in the Ethereum ecosystem. Immutable X is seen as having the potential to become the default “NFT blockchain” in the future, provided it can reach the promised speed of over 9,000 tps.
A crucial component of realizing this promise is the API abstraction layer. Thanks to REST APIs, every interaction related to NFTs, such as minting, trading, and transferring, is a simple API call on Immutable X.
Additionally, it has been announced that users will not need to switch networks while connecting their wallets. The protocol also provides a middleware called “Link” that offers a wallet experience specific to NFTs, enabling Immutable X to support third-party market ecosystems without security risks.
NFT marketplaces can be built on Immutable X with a shared global order book facilitating protocol liquidity. As a result, third-party marketplace solutions can coexist with the protocol’s native marketplace. The protocol also hopes to lower entry barriers for content creators and smaller developers with this solution.
IMX Coin Review
IMX coin attracted attention with its price performance after being listed on Binance. However, the use of zk-rollups also seems to interest investors. At this point, it is worth noting that investors are cautious due to market downturns.
How to Buy Immutable X Coin?
IMX Coin can be purchased quickly and securely via Binance, the world’s largest cryptocurrency trading platform in terms of transaction volume.
To buy IMX Coin, you first need to sign up for Binance and then send fiat currency. After sending a fiat currency such as dollar, you can purchase IMX by buying Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), or BUSD, which are traded in the IMX trading pair.
Additionally, on Binance, users can place buy orders at a lower value than the market price and make purchases at their desired price. To do this, use the Limit tab and enter the amount you want to buy and the price you want to buy at.
