Layer One X price

L1X

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What Is Layer One X (L1X)?

Layer One X (L1X) is a fourth-generation decentralized platform designed to make interoperability between blockchains seamless and efficient. It allows developers to create new multi-chain applications or extend existing ones with cross-chain capabilities. It provides interoperability across evm and altvm networks.

The network operates on a unique Proof-of-X consensus mechanism, ensuring security through staking while maintaining decentralization. L1X is supported by two types of nodes: - Full Validator Nodes (FVNs): Responsible for securing the blockchain’s state. - X-Talk Nodes: Handle cross-chain communication, enabling scalable and efficient multi-chain applications. It also features an inbuilt Oracle system.

Developers have the flexibility to build on L1X using its high-performance Rust-based Virtual Machine with its proprietary compiler for WASM to eBPF for speed and efficiency. Alternatively, they can use Solidity, as L1X is fully EVM-compatible, making it easy to deploy applications across multiple blockchains.

What Is the L1X Token Used For?

The L1X token drives the ecosystem with diverse utilities, including: - Transaction Fees: Used for cross-chain swaps and network transactions. - Node NFTs: Enables the purchase of Node NFTs for hosting network nodes. - Staking and Validation: Supports network security and validation through staking. - Governance: Facilitates voting on protocol upgrades and resource allocation. - NFT Tier Purchases: Earns points through network interactions via tiered NFT systems. - Liquidity Provision: Powers liquidity pools on DEXs to support trading pairs.

L1X Tools and Features

- L1X CLI: Command-line tool for compiling, deploying contracts, and managing blockchain interactions directly from local environments.
- L1X VM Contract Builder (Cargo Templates): Ready-to-use templates for creating WASM-based smart contracts with LLVM IR to eBPF compatibility.
- L1X SDK: Comprehensive developer toolkit, including templates, wallet management, and blockchain interaction tools for Rust.
- L1X Wallet SDK: Streamlined wallet and account management tool for developers building dApps on the L1X network for Typescript
- X-Talk: Bridgeless cross-chain interoperability for real-time communication and transaction atomicity across multiple chains.

L1X EVM Support: Compatibility with EVM-based tools like Hardhat, enabling Solidity contracts to run natively.