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OKX launches its Layer-2 blockchain, leveraging Polygon’s technology, to enhance digital transaction efficiency. Leading crypto exchange OKX has introduced its own exclusive Layer-2 blockchain , the X1 chain , leveraging technology from Polygon. This move places OKX in a growing league of exchanges actively developing secondary networks to enhance the efficiency and cost-effectiveness of digital asset transactions. Hot Off The Press We're thrilled to introduce #X1, our new Ethereum L2 network built on Polygon's CDK. Our landmark collab. with @0xPolygonLabs empowers next gen. devs. with increased security, scalability & low transaction costs to BUIDL the future of Web3. pic.twitter.com/Wkz11vu2be — OKX (@okx) November 14, 2023 This strategic step by OKX follows the trend set by major players like Coinbase, which launched its Base blockchain in August, quickly attracting developer and user interest. Bloomberg reports that Kraken, another major exchange, i...

Join Our Telegram channel to stay up to date on breaking news coverage PayPal just launched its stablecoin Paypal USD (PYUSD), and the opportunistic crypto industry has already hopped on the trend, creating and spreading fake tokens with a similar ticker. Over 60 new token pairs have surfaced on several crypto networks with the intention of unsuspecting users. Crypto Impersonators Strike PYUSD This influx follows an announcement by the New York-based payments behemoth on Monday that its PayPal USD (PYUSD) stablecoin will soon be accessible to consumers. This makes PayPal the first significant financial institution to launch a native stablecoin. Today, we’re unveiling a new stablecoin, PayPal USD (PYUSD). It’s designed for payments and is backed by highly liquid and secure assets. Starting today and rolling out in the next few weeks, you’ll be able to buy, sell, hold and transfer PYUSD. Learn more https://t.co/53RRBhmNHx pic.twitter.com/53ur2KmjU7 — Pa...

Chain Reaction, a Tel Aviv-based block chain startup, announced it has raised $70 million as part of its Series C funding round. The objective of the company is to expand its engineering staff to accelerate the production of its block chain -focused silicon and collaborate in the development of its cryptographic-focused chips. Chain Reaction Raises $70 Million in Series C Funding Round Chain Reaction, a startup that focuses on building block chain -based silicon, announced that it has raised $70 million as part of its Series C funding round. The round, which was led by Morgan Creek Digital, part of Morgan Creek Capital — a VC company co-founded by crypto influencer Anthony “Pomp” Pompliano — saw the participation of Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management, and Blue Run Ventures. With this capital influx, the company expects to increase its engineering headcount in order to hasten the development of its block chain silicon prod...