What is ImmutableX (IMX)?

Built on the Ethereum blockchain, ImmutableX (IMX) is a cryptocurrency and decentralised exchange (DEX) that aims to make it quick, safe, and gas-free to trade digital assets, including non-fungible tokens (NFTs). By utilising layer 2 scaling methods, ImmutableX attempts to overcome the scalability and cost challenges related to conventional blockchain-based markets.

The History of ImmutableX

The ImmutableX team, which is behind the blockchain game firm Immutable, established ImmutableX in 2021. The platform is designed on top of the Ethereum blockchain, utilising its security and decentralisation as well as layer 2 scaling to give NFTs a more scalable and affordable trading experience.

The Use Case of ImmutableX

ImmutableX was created as a decentralised exchange (DEX) for NFTs that enables users to purchase, sell, and trade digital assets quickly, securely, and gas-free. The platform batches and verifies transactions off-chain using a layer 2 scaling method dubbed zk-rollups, which lowers transaction prices and relieves network congestion on the Ethereum network.

With tools like rapid trading, cross-chain compatibility, and a decentralised order book, ImmutableX aims to make NFT trading simple and user-friendly. The platform also places a strong emphasis on user ownership and control over their assets, enabling individuals to maintain custody of their NFTs and conduct trades directly with one another.