What is Immutable X (IMX)? How Does It Work?
Immutable X was founded by James and Robbie Ferguson in 2018. IMX, the native token of Immutable X, was released on 14 October 2021. Immutable X is a layer-2 scaling solution for NFTs on the Ethereum blockchain. It aims to offer fast transactions and low gas fees for NFT trades. If you have questions like what is Immutable X (IMX), how does Immutable X (IMX) work, how do you get Immutable X (IMX) or how to trade IMX/TRY and IMX/USDT trading pairs you’ll find the answers in this article.
What is Immutable X (IMX)? How does it work?
Immutable X is built on the Ethereum blockchain and uses the ERC-20 standard. Immutable X attempts to address Ethereum’s scalability and tries to improve the user experience. Users are able buy and sell ERC-721 and ERC-20 tokens with the improvements offered by Immutable X.
Immutable X is capable of performing over 9,000 operations per second. It does this using Zero-Knowledge Rollup technology.
Zero Knowledge Rollups are a layer-2 scaling solution. Zero Knowledge Rollups improve throughput on the Ethereum Mainnet, Ethereum’s primary production blockchain, by moving computing off-chain. Zero Knowledge Rollups roll thousands of transactions into a single transaction that can be mined at a much faster rate.
The IMX token can be used to pay transaction fees, participate in governance by voting, and staked by token holders to earn rewards.
IMX has a fixed supply of 2,000,000,000.
How do you store Immutable X (IMX)?
Immutable X (IMX) is an ERC-20 based token that performs NFT transaction scaling. You can manage your IMX balances using a desktop, mobile or hardware wallet that supports ERC-20 based Ethereum assets.
How do you trade Immutable X (IMX)?
You can use the BtcTurk | PRO website or mobile app to buy and sell Immutable X (IMX) using Turkish Lira or Tether. If you’re not a BtcTurk member yet, you can become a member now on our website or mobile app. You can purchase Immutable X (IMX) by depositing Turkish Lira — a service available 24/7 if you use one of BtcTurk’s seven contracted banks.