If you've had any experience with NFTs or crypto in general, you have probably heard of Immutable X. This next-generation technology offers a massive upgrade in processing power for trading in the Ethereum blockchain. Additionally, it hosts a robust marketplace featuring a variety of NFT projects and Web3 games like Guild of Guardians and Gods Unchained. With this article, we will explore what Immutable X is, why it may be of interest to you, and how to utilize it properly.
So What is Immutable X?
It is no secret that blockchain technologies have yet to reach their potential. Transactions or trades may take a long time to complete or can even fail if you're unlucky. The leading cause of this problem is the TPS.
TPS, or transactions per second, is a general unit of measurement used to determine the speed and scalability of a blockchain. Ethereum, one of the most popular blockchains and home to the overwhelming majority of NFT trade in the crypto world, has a theoretical TPS of 30. You may think that doesn't sound very much, and you would be correct. A TPS of 30 is, to put it bluntly, a negligible number compared to the traditional financial platforms, which can range in tens and even hundreds of thousands. Combined with the environmental impact of the energy needs of the blockchain, one may think this is a lost cause.
Enter Immutable X. Immutable is a layer-2 scaling technology that has the capacity to process up to 9000 transactions per second, a 300 times increase from the theoretical maximum capacity of Ethereum. Immutable achieves these impressive benchmarks by using Zero-Knowledge rollup, a transaction verification method that combines hundreds of transactions into a singular proof while offering increased levels of privacy and security.
What about energy use? Surely a greater processing power will require more energy. ImmutableX has that one figured out too. Any trade or mint completed on the platform is 100% carbon-neutral. Moreover, Immutable's energy uses are nearly 470,000 times less than on the Ethereum blockchain. As a bonus, end-users have zero gas fees when trading on the Immutable.
Whether your concerns are environmental or you just want a more reliable platform to trade on, Immutable indeed has something to offer. So let's take a quick look at how to get started, by linking your wallet up to the Immutable X marketplace!