Buy Immutable X

Immutable X

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What is Immutable X?

What Is Immutable X (IMX)? As more users flock to decentralized applications (dApps) and non-fungible tokens (NFTs), the Ethereum network faces congestion and high gas fees.

Enter Immutable X, a groundbreaking layer-2 solution designed to address these pain points.

Immutable X (IMX) has its own special token called IMX. It can be used to pay fees on the Immutable X platform. It can also be used for staking, and gives holders voting rights to how the network is run.

In this article, we’ll explore what Immutable X is, how it works, and its impact on the NFT ecosystem.

What Is Immutable X?

Immutable X is a Layer 2 scaling solution specifically tailored for NFTs on the Ethereum blockchain. Founded in 2018 by James and Robbie Ferguson, and Alex Connolly, Immutable X aims to revolutionize NFT trading by combining scalability, security, and user experience.

Zero gas fees and carbon neutrality

One of the standout features of Immutable X is its zero gas fees. Unlike Ethereum’s mainnet, where transaction costs can be prohibitively high, Immutable X allows users to mint, transfer, and trade NFTs without paying any gas fees.

This is a game-changer for both creators and collectors, as it eliminates the financial barrier associated with NFT transactions.

Also Immutable X claims to be carbon-neutral, making it an environmentally friendly choice for NFT enthusiasts. By leveraging zk-rollup technology, it achieves scalability without compromising the planet.

How does Immutable X work?

Let’s dive into the technical details.

ZK-Rollups

Immutable X is a technology that helps make Ethereum more efficient. So how does it do that? It uses StarkWare’s zero-knowledge proofs (specifically, Starkey).

Think of this as a smart way to prove something without revealing all the details. It’s like saying, “I know the answer, but I won’t show you how I got it.”

It does this by using ZK-rollups. Imagine you have a bunch of small tasks to do. Instead of doing each task one by one, you group them together and finish them all at once.

ZK-rollups do something similar with transactions on Ethereum — they bundle them up and send them together.

This happens off-chain, which is like doing some work behind the scenes without bothering everyone else. Off-chain transactions happen away from the main Ethereum network.

Because this is so much more efficient, it reduces the fees (called gas fees) you pay to use Ethereum. So, in simple terms, Immutable X uses some tricks to make Ethereum faster and cheaper.

EVM compatibility

EVM stands for Ethereum Virtual Machine. It’s like the brain of the Ethereum network — a mega computer that runs all the programs (called smart contracts) and keeps everything in order.

Immutable X is the first chain for games that offers EVM compatibility.

Game developers can build on Immutable X without the need for Solidity expertise (the programming language of Ethereum). So, game creators can use the same tools they already know, without needing any extra skills.

When game developers create new games on Immutable X, they can easily connect them to the existing games on Ethereum.

When game devs build a game on Immutable X, it’s like adding a new piece to the big Ethereum puzzle. And it fits perfectly. The new game can talk to other games and share resources without any hiccups.

Global order book

The platform features a global order book. When someone wants to send an NFT (Non-Fungible Token) to another person, the blockchain needs to check if everything is okay. Is the NFT real? Is the sender allowed to do this? Once the blockchain is sure, it adds this transaction to a block.

Using the Immutable X platform, the buyers and sellers can interact without waiting for block confirmations, resulting in a smoother experience. It makes NFT trading across various marketplaces way more efficient.

Web3 gaming and beyond

Immutable X caters to game developers seeking high performance and low costs. While it doesn’t support complex smart contracts, it enables streamlined gameplay mechanics. Imagine a web3 game where players can buy, sell, and trade assets instantly, all while enjoying gas-free interactions.

The Gods Unchained trading card game is a prime example of Immutable X in action. Players can collect rare cards, trade them seamlessly, and participate in tournaments — all without worrying about gas fees.

How to buy Immutable X (IMX)

If you’re interested in acquiring IMX tokens, here’s how you do it on CoinJar.

-Download the CoinJar App: Get the CoinJar app on iOS or Android. -Create an Account: Sign up and verify your ID — it only takes a couple of minutes. -Make a Purchase: Buy IMX, Bitcoin and almost 50 other cryptocurrencies using cash or a credit card.

CoinJar offers various payment methods, including Visa, Mastercard, bank transfers, PayID, and Osko. You can also convert crypto-to-crypto with one click.

Buy IMX: Conclusion

Immutable X represents a significant leap forward for NFTs and web3 gaming. Its commitment to scalability, security, and user-friendly experiences positions it as a key player in the evolving blockchain landscape.

As the NFT market continues to flourish, solutions like Immutable X pave the way for a more accessible and sustainable digital future.

So, whether you’re a game developer, collector, or NFT enthusiast, or just want to hold the tokens, keep an eye on Immutable X.

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How to buy Immutable X with CoinJar

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Frequently asked questions

What is Immutable X?

It is a layer-2 scaling solution for Ethereum, specifically designed for NFT minting and Web3 games. As far as layer 2 solutions go, it is seen as a breakthrough. It focuses on making NFT transactions gas-free, ensuring a seamless experience for users.

How does Immutable X work?

The platform uses a zk-rollup scaling engine developed in partnership with StarkWare. It allows for instant transaction confirmation and near-zero gas fees when minting and trading NFTs. Over 33 million NFTs were minted gas-free on the platform in 2022.

What are the utility tokens in the ecosystem?

The utility token is called IMX. It covers fees for NFT transactions and provides staking rewards for users.

How does Immutable X benefit blockchain games?

The Immutable X protocol focuses on the emerging GameFi sector. The game Gods Unchained is an example of a game built on the platform.

It offers custom wallet UX, integrated credit card payments, and global order books for instant NFT propagation. Developers receive expert support, simple APIs, and SDKs for faster game launches.

What role do utility tokens play?

IMX tokens enable gas-free NFT minting and trading. They contribute to the scalability and efficiency of the Immutable X ecosystem. IMX holders also have voting rights for ecosystem decisions.

Immutable X is a layer-2 solution on Ethereum, enhancing scalability. It prioritises high performance and low cost while maintaining Ethereum’s underlying security. The focus is on NFTs and Web3 gaming.

What impact does Immutable X have on NFT marketplaces?

Immutable X’s global order book ensures efficient NFT trading across various marketplaces. Buyers and sellers can interact without waiting for block confirmations, resulting in a smoother experience.

How does Immutable X handle game assets?

Immutable X provides a secure platform for NFT projects. It allows game developers to build and manage NFT-based game assets without gas fees. Quick trade confirmation and large scalability enhance the gaming experience.

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