Immutable X is a next-generation protocol for trading Ethereum NFTs which gives users instant trade confirmation, massive scalability, and no gas fees without compromising user custody. Our goal is to make minting and trading Ethereum NFTs even easier than trading traditional digital assets.
Immutable X uses a ZK Rollup: we take thousands of off-chain trades, generate a proof that these trades were all valid (i.e. the users who owned the assets signed the trades), and then publish that proof on chain, where it is verified by a smart contract.
During this process, the on-chain user assets are held in the smart contract, and can only be released after a valid proof including them has been published in a batch.
At the moment, trading on the Ethereum network is broken.
The network currently supports approximately 150,000 non-fungible token transactions per day at 30% network usage. Our plan is for Immutable X to support more than 200 million trades per day while consuming less than 30% of Ethereum’s capacity.
Trades can fail on occasion (returning assets to owners instead of trading), and the time they take to process is largely inconsistent, sometimes taking upwards of an hour. These aren’t only annoying for users who are attempting to trade, but can cause problems for developers building on the network. Alongside this, developers are unable to mint NFTs sustainably making it impossible for projects to properly fundraise to continue expansion and create more content for their users.
Immutable X will make building games, applications and exchanges on Ethereum viable.
Updated 5 months ago