Immutable X is a layer-2 solution for Ethereum designed specifically for gaming enthusiasts and NFTs (Non–Fungible Tokens) in the gaming industry.

 

In the ever-growing world of blockchain, especially in the gaming and digital collectibles sectors, the importance of transaction speed and efficiency cannot be ignored.

 

Ethereum, as a well-known blockchain platform, often faces scalability issues and high transaction fees, which can hinder user experience and widespread adoption. Layer-2 solutions like Immutable X offer a solution to that problem.

 

Now, to understand more about what Immutable X is, from how it works, its uniqueness, its advantages, its tokenomic, to its projects, check out the full review below.

 

 

What is Immutable X?

 

Immutable X (IMX) is a layer-2 scaling solution designed specifically for NFTs (Non-Fungible Tokens) on the Ethereum network.

 

Founded by James Ferguson and Robbie Ferguson, who are both entrepreneurs shortlisted in the Forbes 30 Under 30 list. The platform uses IMX as its main token, to pay for transaction fees, staking, and participation in protocol decision-making.

 

Backed by a range of leading investors, including Temasek, Immutable X successfully raised $200 million in funding, lifting its valuation to $2.5 million.

 

With an exclusive focus on NFTs, Immutable X has great potential to become the gold standard in the NFT ecosystem.

 

How Immutable X Works

 

Immutable X improves the scalability of Ethereum transactions through a layer-2 technology developed by Starkware, StarkEx.

 

This technology utilizes Zero-Knowledge (ZK) Rollups to increase transaction capacity while maintaining security equivalent to the main network.

 

The process involves combining thousands of transactions into a single ZK-STARK Proof in a rollup. This proof is then sent to the main layer for validation through a single smart contract.

 

In this way, the main network only needs to process one rollup transaction to verify thousands of transactions that have been combined. This method has proven to be effective in speeding up transactions.

 

ZK-Rollups smart contracts store transaction details at layer-2, speeding up block validation. Thanks to this rollups approach, Immutable X is able to handle NFT transfer, trading, and minting transactions at speeds of up to 9,000 NFTs per second.

 

Uniqueness of Immutable X

 

In particular, layer-2 is focused on the needs of gamers and NFT collectors. To support these needs, Immutable X offers a combination of a REST Application Programming Interface (API) and a simple Software Development Kit (SDK), which makes it easy for game developers and NFT artists to work.

 

The combination enables the creation of gaming NFTs in a short period of time. The approach is to simplify the complex blockchain interaction process.

 

The REST API allows NFT creators to send and mine NFTs without having to deal directly with smart contracts. The Immutable X SDK makes it easy for developers to focus on their game design, while back-end tasks can be handled by Immutable X.

 

Advantages of Immutable X

 

After knowing what the uniqueness is, it is also important to know some of the advantages of Immutable X, including:

 

1. Faster Project Development

 

By utilizing a combination of APIs and SDKs, creative projects in layer-2 can be completed faster. That’s a significant advantage for gamers and developers who need easy access and efficiency in the creation process.

 

2. Lower Gas Costs

 

Managing rollups transactions through a single smart contract reduces gas fees for each transaction. Gamers and developers can use Immutable X services at no additional cost.

 

3. Easier NFT Payments

 

You can connect your Immutable X digital wallet with your existing credit card. That allows you to transact directly without the need to exchange fiat currency for blockchain assets through different networks.

 

IMX Tokenomic

 

The main token in this layer is IMX, which follows the ERC-20 protocol. Its issuance involves a collaboration between Immutable X and Digital Worlds NFTs Ltd.

 

IMX has various functions, including as an incentive and transaction tool within the Immutable X network. A protocol fee is charged at 2% of the total transaction value, which is paid with IMX tokens.

 

Ownership of IMX also provides rights in network governance. Token holders can earn rewards through staking, participating in proposal voting within the last 30 days, and collecting NFTs on the network.

 

IMX grants governance rights that include voting and decisions regarding token supply and allocation. The total number of IMX issued is limited to 2,000,000,000 tokens. Of this amount, 50% is allocated for ecosystem development.

 

Meanwhile, the rest consists of 25% for protocol projects, 14.26% for sales to investors, 5% for public sales, and 4% for liquidity reserves on centralized and decentralized exchanges.

 

Immutable X Projects

 

Being a platform specializing in games, Immutable X has launched several digital games, including the following:

 

 

1. Gods Unchained

 

This play–to–earn card game rewards NFTs that can be traded on the marketplace.

 

Since 2021, the developers of Gods Unchained have moved their game to the Immutable X ecosystem, which has led to a 1.5-fold increase in the game’s NFT transactions.

 

2. Illuvium

 

Illuvium is a role-playing game that carries the theme of adventure and combat in an open world. In this game, players collect Illuvials, monsters that inhabit the world of Illuvium.

 

Illuvials can be trained and traded as NFTs and can be sold on the marketplace for profit.

 

3. WAGMI Games

 

WAGMI Games offers a similar gaming experience to Mobile Legends in a crypto version.

 

Players can choose a team and fight to defend towers in a high-quality gaming ecosystem, with the potential to earn profits through in-game crypto features.

 

 

Immutable X Impact and Achievements

 

After Gods Unchained moved or relocated to the Immutable X ecosystem in 2021, there was a significant spike in the game’s NFT transactions. The move increased NFT transaction volume by 1.5 times.

 

This shows the positive impact of using Immutable X technology in increasing the efficiency and trading volume of NFT games. Immutable X also has the potential to become the gold standard in the NFT ecosystem thanks to its specialized focus on NFTs.

 

By removing gas costs and increasing scalability, Immutable X can facilitate wider adoption of NFT technology, and make NFT creation and trading easier and more affordable.

 

In addition, Immutable X has successfully built a strong community around its platform, actively engaging users, developers and IMX token holders. The community has been instrumental in implementing Immutable X’s technology and supporting its growth.

 

Conclusion

 

To conclude, in essence, Immutable X plays an important role in addressing the scalability issues faced by Ethereum.

 

By using layer–2 technology and ZK-Rollups, Immutable X increases Ethereum’s transaction capacity, reduces gas fees, and maintains a high level of security.

 

This enables the blockchain ecosystem to handle more transactions without experiencing performance degradation, which is crucial for the gaming and NFT industries.

 

For gamers, this allows them to enjoy a smoother gaming experience with fast transactions and low fees. Immutable X allows gamers to participate in the digital economy without being burdened by high transaction fees.

 

As for developers, with simple APIs and SDKs, they can accelerate the creation and launch of NFT games or applications.

 

In that regard, Immutable X makes it easy to integrate with blockchain without the need to handle the technical complexities usually associated with layer-1.

 

On the other hand, for NFT collectors, they get access to NFTs with lower transaction costs and more efficient processes.

 

Immutable X helps them to buy, sell, and collect NFTs more easily and quickly, as well as utilize the additional features offered by the platform.

 

Let’s Invest in Immutable X on INDODAX

 

Before investing in Immutable X (IMX) at INDODAX, you can check the IMX price (IMX to IDR) first at INDODAX Market. To buy IMX at INDODAX, follow this guide:

 

• Log in to your INDODAX account. If you don’t have an account, you can register on the INDODAX website.
• Continue by completing the account verification process which aims to ensure transaction security
• Deposit funds into your INDODAX account using the available payment methods
• Use the search feature on the INDODAX platform to find Immutable X (IMX) crypto assets.
• If you have found IMX then determine the amount of assets you want to buy
• Purchase the asset according to the current market price
• Double check the transaction details and confirm your purchase
• IMX will be entered into your crypto wallet at INDODAX if the transaction is successful

 

FAQ

 

1. What is Immutable X?

Immutable X is a layer-2 solution for Ethereum specifically designed to improve transaction scalability, especially in NFT projects and Web3 games, by using StarkEx technology and Zero-Knowledge (ZK) Rollups.

2. Why is Immutable X needed on the Ethereum network?

Immutable X is needed to address the scalability constraints that the Ethereum network often faces due to the high volume of DeFi, NFT, and dApps transactions, which often leads to congestion and high gas fees.

3. How does Zero-Knowledge (ZK) Rollups technology work in Immutable X?

ZK Rollups aggregate thousands of transactions into a single ZK-STARK Proof and send it to the Ethereum main network to be validated as a single transaction, which increases the efficiency and speed of transaction processing.

4. What are the main advantages of using Immutable X?

Immutable X offers faster project development, cheaper gas fees, NFT trading with wider exposure through a global order book, and easy NFT payments by connecting digital wallets to credit cards.

5. What are some of the notable projects using Immutable X?

Some notable projects using Immutable X include Gods Unchained (a play-to-earn card game), Illuvium (an adventure role playing game), and WAGMI Games (a crypto version of a mobile legend-like game).