Immutable (IMX)

Immutable X is a layer 2 scaling solution for Ethereum's blockchain. It aims to improve scalability, allowing users to process transactions more quickly and cheaply. This can be a time-consuming and expensive task without such a solution. In improving scalability, Immutable X focuses on NFTs, which use the ERC721 token protocol. But how can Immutable X process transactions so quickly and cheaply? Users can choose to perform their transaction over Immutable X. The transaction is then processed off-chain by means of a zk-Rollup. This rollup uses zk-Snarks technology, where transactions can be quickly validated and a zk-Proof remains. This is a cryptographic hash, which is used as the outcome of the transaction processing. This outcome is then stored on Ethereum's mainchain. Performing a transaction over Immutable X is lightning fast. In fact, this scaling solution can process 9000 transactions per second (TPS). You pay less than €1 to execute a transaction, and only have to wait a few seconds. Normally, for a transaction on Ethereum, you would have to wait 10 to 30 minutes, and in the worst case, you pay hundreds of euros in gas fees.