Immutable X (IMX)

Last updated 26/06/2022

Official Website: https://www.immutable.com/

What Is Immutable X (IMX)

The first layer two (L2) scaling solution for non-fungible tokens (NFTs) on Ethereum is called Immutable X (IMX). Users enjoy zero gas expenses for minting and trading NFTs, instant trading, and vast scalability without sacrificing user or asset security. Immutable X uses STARK zk-rollups, a technology that Vitalik Buterin believes Ethereum is "all-in on", to do that. Users will be able to produce and distribute assets like ERC-20 and ERC-721 tokens on a vast scale as a result of this technology.

The IMX token is the Immutable X protocol's native ERC20 utility token. Users can earn it by engaging in pro-network activities like trading, and they can use it to pay fees, carry out governance tasks, or stake on the platform. With a superb developer and user experience, Immutable X is a state-of-the-art protocol for NFTs that enables projects to build atop Layer 2 Ethereum. In this way, Immutable X hopes to give users and developers alike a first-rate experience.

Immutable X (IMX) has four core components:

StarkEx ZK Rollup Technology – StarkWare’s proprietary ZK Rollup technology that utilizes ZK-STARK instead of ZK-SNARK.
APIs and SDKs – Immutable X’s developer and partner-focused tools that enable easy onboarding and development with the Immutable X protocol.
Immutable X Link – The trustless intermediate layer of the protocol.
Immutable X Marketplace – The default trade platform for the Immutable X protocol.

Immutable X has a good chance of becoming the default “NFT blockchain” in the future, provided its promised transaction speed of more than 9,000 tps can be achieved.

NFT marketplaces can be constructed on Immutable X without a backend thanks to its shared global order book, which supports protocol liquidity. As a result, the native marketplace of the protocol can coexist with third-party marketplace solutions. With this approach, the protocol also hopes to minimize entry barriers for smaller developers and content creators.

Team

Immutable and StarkWare, two key players in the blockchain and gaming industries, partnered to create Immutable X.

James Ferguson - the founder and CEO at Immutable X (IMX).
Robbie Ferguson - co-founder of Immutable.
Alex Connolly - CTO of Immutable.

They are the developers behind the now popular game ‘Gods Unchained’. The team consists of more than 100 members from different backgrounds like blockchain, FAANG, finance, fintech, and management consulting.

Roadmap

Where to store Immutable (IMX)

Since Link acts as an intermediary between Immutable X and the users’ existing Ethereum wallet. It allows the user to experience a pure NFT-focused wallet interface and experience on the Immutable X platform without needing to create a new wallet.

A user-friendly option to keep your $IMX secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools and Marketplace by connecting to your MetaMask wallet. Immutable X supports hardware wallets when they are connected via MetaMask.

Magic.link - An easy sign up and login wallet that allows users to create and manage their wallet with only their email. This wallet does not work if the browser is in incognito mode. This wallet cannot be used in platforms that do not have a Magic integration and are not connected to Immutable X. All assets are controlled by the user and can be moved to other wallets as desired.

Please check the tutorial from Immutable X (IMX) team, on how to set up either MetaMask or Magic wallet with them, here: Creating an Ethereum wallet.

Where to buy Immutable X (IMX)

You can Buy & Sell Immutable X (IMX) by heading over to the Buy Coins page of our website. Immutable X (IMX) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $IMX has never been easier, simply place your order and provide your wallet address. Once your payment arrives Immutable X (IMX) will be sent directly to your wallet.

If you choose to Sell Immutable X (IMX) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

Immutable X (IMX) Resources:

Website: https://www.immutable.com/

Block Explorer: https://etherscan.io/token/

Twitter: https://twitter.com/Immutable

Medium: https://immutablex.medium.com/

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.