Which chain is the Immutable (IMX) currency on?

Immutable X (IMX) operates on top of the Ethereum mainnet, inheriting its security and immutability while offering significantly higher scalability and lower transaction fees.

Dec 14, 2024 at 07:56 am

Which Chain is the Immutable (IMX) Currency On?

Immutable (IMX) is the native token of the Immutable X protocol, an Ethereum-based Layer-2 scaling solution designed specifically for non-fungible tokens (NFTs) and decentralized applications (dApps). As a Layer-2 solution, Immutable X operates on top of the Ethereum mainnet, inheriting its security and immutability while offering significantly higher scalability and lower transaction fees.

Key Features of Immutable X

• Scalability: Immutable X can process up to 9,000 transactions per second (TPS), making it one of the fastest and most scalable Layer-2 protocols available.
• Low Fees: Transaction fees on Immutable X are significantly lower than on the Ethereum mainnet, typically ranging from a few cents to a few dollars.
• Zero-Knowledge Proofs: Immutable X uses advanced zero-knowledge proofs technology to ensure the privacy and security of transactions without compromising scalability.
• NFT Integration: Immutable X is specifically designed for NFTs, offering features such as gas-free trading, instant confirmation, and royalty enforcement.
• Ecosystem: Immutable X is supported by a growing ecosystem of partners, including games, marketplaces, and developers.

Which Chain is IMX On?

Immutable X operates as a Layer-2 solution on top of the Ethereum mainnet. This means that IMX tokens are primarily stored and transacted on the Ethereum blockchain. However, Immutable X also supports interoperability with other Layer-2 solutions and sidechains, allowing IMX tokens to be bridged to other networks.

Why is Immutable X on Ethereum?

Immutable X chose to build on Ethereum for several reasons:

• Security: Ethereum is one of the most secure and well-established blockchains in the world, providing a solid foundation for Immutable X.
• Interoperability: Ethereum is home to a vast ecosystem of dApps and other cryptocurrencies, allowing Immutable X to integrate with a wide range of projects.
• Decentralization: Ethereum is a decentralized blockchain, meaning it is not controlled by any single entity, which aligns with Immutable X's commitment to decentralization.

Benefits of Having IMX on Ethereum

• Security: IMX tokens benefit from the security of the Ethereum blockchain, which is protected by a distributed network of validators.
• Liquidity: Ethereum is one of the most liquid cryptocurrency markets, ensuring that IMX tokens can be easily traded and exchanged.
• Ecosystem Access: By being on Ethereum, IMX has access to the thriving Ethereum ecosystem, which includes a wealth of dApps, tools, and resources.

Conclusion

Immutable X is a Layer-2 scaling solution that operates on top of the Ethereum mainnet, inheriting its security and immutability while offering significantly higher scalability and lower transaction fees. IMX tokens are primarily stored and transacted on the Ethereum blockchain, but Immutable X also supports interoperability with other Layer-2 solutions and sidechains.