ImmutableX (IMX) Live Price

What Is Immutable X (IMX)?

Immutable X is a layer-2 blockchain that addresses the scalability issue for NFTs on Ethereum. It enables users to create and manage NFT projects in a secure platform with no transaction fees. It also provides fast trade confirmation, no gas fees, and massive scalability for games, applications, and marketplaces without sacrificing security.

Using zero-knowledge rollup technology, the network can process over 9,000 transactions and mints per second. This is larger than the scale required for mainstream NFT projects. Furthermore, Immutable X aims to simplify the process of trading, minting, and sending NFTs and ERC-20s.

Immutable X's native token is IMX. It is an ERC-20 blockchain network utility and governance token with a total supply of 2 billion. Immutable X uses IMX to pay transaction fees and to incentivize users and developers. They can earn IMX tokens by helping the platform grow by trading NFTs and developing applications.

IMX, as a utility token, enables token holders to earn rewards by staking in reward pools. They can also participate in Immutable X governance by submitting and voting on community proposals. The more IMX coins they own, the more votes they have. 

A brief history of Immutable X

Immutable, formerly known as Fuel Games is a global blockchain technology company on a mission to bring asset ownership and commerce to life in digital worlds using the immutable NFTs. The Immutable Group is made up of the Ethereum-scaling Layer 2 platform Immutable X and the Immutable Games Studio.

Immutable, co-founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, is headquartered in Sydney and is backed by top transformational tech investors such as King River Capital, AirTree, Coinbase etc.

What Makes Immutable X Unique?

Immutable X is the first layer-2 solution for NFTs on Ethereum, focusing on NFTs and play-to-earn blockchain games, improving scalability and lowering the high gas fee.

Immutable X, unlike other projects that compete with Ethereum, uses Ethereum's features to provide enticing and advantageous features to NFT traders. This includes peer-to-peer trading on the network and zero minting.

There is a gas-free marketplace with a diverse selection of non-fungible products such as art, play-to-earn games, virtual worlds, trading cards, collectibles, and much more.

How Is the Immutable X Network Secured?

The Immutable X blockchain provides the same level of security as the Ethereum blockchain.

The platform, developed in collaboration with Starkware, improves the overall network's privacy and scalability. The platform executes a massive batch of transactions off-chain, with users signing up for the quick process, which is then placed on the main network in a single stark proof that compresses the trades at no cost.

Where Can You Buy Immutable X (IMX)?

Immutable X can be purchased on multiple platforms including top centralized exchanges that have listed them for trading. They include : Binance, Kucoin, Coinbase etc.