Immutable X (IMX) is a Layer 2 scaling solution for non-fungible tokens (NFTs) on the Ethereum network. It focuses on enhancing the user experience by offering zero gas fees, rapid transaction speeds, and scalability. This is achieved through the use of zero-knowledge proof technology, specifically zk-rollups, to maintain security and integrity while processing up to 9000 transactions per second.
Immutable X operates on the Ethereum blockchain as a Layer 2 solution, using zk-rollup technology developed with StarkWare. This technology involves batching transactions and generating a STARK proof that verifies the validity of these batches. The proof is then published on-chain, ensuring the security and accuracy of the transactions without traditional consensus mechanisms like Proof of Work or Proof of Stake. Immutable X also employs smart contracts for minting and trading NFTs, increasing the platform’s efficiency and usability.
Immutable X offers a wide range of applications across different industries:
Immutable X was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly. The platform initially stemmed from the challenges encountered in blockchain gaming with Etherbots. Key milestones include:
Immutable X's progress reflects significant technological and market presence advancements, supported by partnerships with notable industry players and expansion efforts, particularly in Asia.