Immutable X: everyting you need to know about IMX

What is Immutable X?

Immutable X (IMX) is a Layer 2 scaling solution for NFTs (Non-Fungible Tokens). Immutable runs on the Ethereum network, focuses on user-friendliness, and does not charge its users any 'gas fees'. Furthermore, the network has high transaction speeds and uses zero-knowledge-proof technology for security. Immutable X supports many Ethereum-based tokens and has IMX as its native token. Immutable X was founded in 2018 and has collaborations with big names like GameStop and Tencent.

How does Immutable X work?

Immutable X operates as a Layer 2 solution that improves the speed and scalability of the network. The network runs on top of the Ethereum blockchain network and focuses specifically on enhancing the efficiency and sustainability of NFT (Non-Fungible Tokens) markets.

This is how Immutable X works.

• Zero Gas Fees: Immutable X offers transactions without gas fees, meaning that users do not have to pay high costs to create, trade, or securely store NFTs.
• Zero-Knowledge Proofs: the network uses special technology to achieve scalability and security. This way, Immutable X can process transactions off-chain, increasing speed and efficiency without compromising on security.
• Transaction speed: Immutable X can process up to 9000 transactions per second, which is significantly higher than what many other blockchains offer. This ensures fast and smooth transactions of NFTs.
• Support for NFTs and ERC-20 Tokens: the platform supports both NFTs based on the ERC-721 protocol and ERC-20 tokens, making it flexible and suitable for various types of digital assets.
• IMX token: Immutable X has its own native token called IMX. IMX is used for various services on the platform and has governance functions.
• Environmentally friendly: the platform aims for carbon neutrality, which means it strives for a minimal ecological footprint.
• Partnerships: Immutable X has formed strategic partnerships with major players in the industry including GameStop and Tencent, rapidly gaining popularity in the world of blockchain gaming.
• Developments: IMX continues to evolve and has future plans, such as Immutable Passport and SDK, to further improve functionality and usability.

The IMX token.

The IMX token is an essential part of the platform's ecosystem. It acts as a digital asset used for transactions, governance, and incentives within the platform, making it an integral part of the NFT market supported by Immutable X.

Here is how the token economy of IMX works:

• Use for Transactions
• Bestuur
• Rewards and Strike
• Liquidity Mining
• Supply and Combustion
• Ecosystem growth

The technology behind IMX

Immutable X distinguishes itself from other blockchain networks by offering zero gas fees, carbon neutrality, and the ability to process 9000 transactions per second thanks to StarkWare's zero-knowledge proof technology. IMX makes it easy to create and trade digital collectibles, including in-game assets. The network supports both ERC-721 and ERC-20 tokens and is tradable through various APIs (software environments).

With its focus on sustainability and user-friendliness, IMX has quickly gained popularity, especially in the world of Blockchain gaming.

The Immutable X ecosystem

The Immutable X ecosystem revolves around the revolution of NFTs on the Ethereum blockchain. IMX provides an efficient and sustainable marketplace for NFTs and digital assets. At the core of this ecosystem is the IMX token, enabling transactions, staking, and governance.

Artists, collectors, and developers find a seamless way to create, trade, and store NFTs in the IMX ecosystem without high gas fees. The technology behind IMX is based on zero-knowledge proofs, providing scalability and security. The ecosystem aims for a more ethical and sustainable approach to the world of NFTs, while also offering excellent user experiences. With its plans for various (future) developments, such as Immutable Passport, SDK, and market enhancements, this ecosystem continues to grow and evolve in the world of digital assets.

Benefits of Immutable X.

Which advantages make Immutable X an attractive choice for investors in the world of NFTs?

• Zero Gas Fees
• Great scalability
• Interoperability with Ethereum and ERC-20 tokens
• User-friendly and carbon neutral
• Partnerships

Disadvantages of Immutable X.

Although Immutable X offers many benefits, there are also some potential drawbacks that users should be aware of.

• Limited support
• Strong competition from other blockchains
• Volatility of the IMX Token

Who is the founder of Immutable X?

The founders of Immutable X are James Ferguson, Robbie Ferguson, and Alex Connolly. Together, they have made a remarkable contribution to the world of blockchain and NFTs.