Solana had several crashes in 2022 because of a congested server. Ethereum is battling network glitches and high slippage, despite its shift to Proof of Stake in 2022. No matter how we see it, scalability is the way out for blockchains in the cryptocurrency market. 

Many blockchains, including Ethereum, are launching layer-2 chains to support their existing infrastructure in tackling the overwhelming user traffic. But while everyone is scaling their network for conventional fungible tokens, there is seemingly no provision for scaling NFT trade.

That is where ImmutableX comes in, with its chain designed to help NFT marketplaces deal with user influxes and high gas fees. Hang on to learn more about the blockchain and what's in it for NFTs.

What Is ImmutableX?

ImmutableX is a blockchain that was launched in 2022 to provide more scalability options for NFT marketplaces. The philosophy is to create a network for NFT traders where they can transfer tokens at low gas fees, while enjoying almost instant transaction confirmation.

NFTs have been around since 2012, when developers toyed with the idea of coloured BTCs. From there, the idea of NFTs broadened to include art, designs, and eventually becoming 3D pictures and animations. 

In 2021, NFTs broke into the mainstream cryptocurrency market and swept everyone off their feet. Ethereum dominated the market in the beginning phases with its OpenSea marketplace. Soon marketplaces sprung up on Solana and Metaverse platforms like Decentraland and Axie Infinity. Now, NFTs have expanded into the Metaverse, where they form the basis for the fun and adventure of the digital universe.

But with the fame of NFTs have come increased user participation on layer-1 chains, causing them to become congested and experience hitches in their service delivery. ImmutableX is here to take the strain and load of NFTs off the layer-1 networks, establishing a platform where traders and gamers can coexist and exchange their tokens under the best blockchain conditions. 

On ImmutableX, you get a speedy network alongside low slippage on your transactions, and here's how.

The ImmutableX Blockchain

ImmutableX is a typical Proof of Stake blockchain that is particularly active in the Web3 ecosystem, promoting Metaverse gaming and NFTs. ImmutableX's blockchain is based on Ethereum's network, where it offers direct scalability for Ethereum's users while enjoying security from the blockchain.

The blockchain is already a hub of NFT marketplaces and games in various modes, from play-to-earn to multiplayer shooter and strategy games. Here are key features that the ImmutableX blockchain is offering its users.

• Scalability

With its Zero-Knowledge rollups, ImmutableX's scalability is through the roof. According to the whitepaper, the platform layers over existing blockchains, including Ethereum and Binance Smart Chain. Its partnership with these networks allows the users from these blockchains to interact with the Web3 ecosystem through ImmutableX's network.

Of course, Ethereum users are fed up with the blockchain's limitations and are out for cheaper and faster networks for their NFT trading. ImmutableX boasts a planet-scale level of scalability, so that the blockchain can support any game on its network, no matter how large they get. 

As for NFT trading, the Immutable Mint marketplace on the blockchain features a global order book for matching user orders. In an instant, your sell/buy order is run through a global network of NFT traders and your NFT trade is matched.

• Developer-friendly Policies

Innovation is the keyword in the crypto-verse, and every platform strives to be better. The ImmutableX blockchain welcomes fresh developer ideas, offering every developer expert support for their app building journey. 

There are simple Application Interfaces (APIs) and software development kits that aid app builders on the blockchain. These tools enable faster DApp development and deployment.

• Security

With ImmutableX's scalability comes advanced security. The blockchain has Ethereum-grade security that protects it from external threats. The blockchain is multicentric, and that makes hacking expensive.

• Carbon Neutral

ImmutableX is environmentally conscious, and that's obvious from efforts from the developers to reduce emissions from the blockchain's operations. Since it runs on a Proof of Stake protocol, there's no energy-intensive mining that can cause huge carbon emissions.

Where Does IMX Token Come In?

The IMX token is the economic fuel for the platform and is native to the Immutable blockchain. The tokens will provide gas for the platform, functioning as the connection between users and the blockchain. That way, anyone who holds IMX tokens would profit from the price increase whenever ImmutableX is bullish in the market.

Also, 20% of the transaction fees go into the IMX fund, which provides utility for the platform. The utility is expected to scale as the blockchain's operations expand to other zero-knowledge Ethereum-compatible applications.

Lastly, IMX tokens are used to vote on the platform, whenever the community meets to decide on upgrades and improvements to the protocol. Since it's the native token for the Immutable platform, IMX holders have the right to vote on platform decisions, like approval of new applications or games. 

According to the developers, there are still other use cases that IMX tokens will provide on the platform, apart from gas and governance. Users should stay tuned for those.

Where to Get IMX Tokens?

Most centralized and decentralized exchanges list IMX tokens for trading, such as Coinbase and Binance. You can purchase them using fiat currency and transfer them to your Immutable X account to start the experience. You can also get IMX tokens when you trade NFTs on ImmutableX's network.

From gaming to NFTs and DApp building, ImmutableX is exposing its users to the ideal Web3 ecosystem. The layer-2 architecture (zero-knowledge rollups) ensures that every user gets the most of their experience on the ImmutableX server with instant transaction processing and cheap, almost free transactions. 

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This article is intended for educational purposes and is not financial advice.