ImmutableX is the layer 2 scaling solution to Ethereum that focuses on NFT and gaming. It promises high security while achieving zero fee for minting NFTs, near-instant finality, and great scalability.
The network was created by Robert Fergusen, James Fergusen, and Alex Connolly in 2018. Besides being a blockchain for other NFT projects to operate on, ImmutableX releases their own games, which are Gods Unchained and Guild of Guardians.
To enable more efficient processing of NFT projects on Ethereum, ImmutableX implements ZK-Rollup and REST APIs.
ZK-Rollup creates groups of transactions that are processed off-chain. The main blockchain, Ethereum in this case, is notified of the changes by a summary and validity proof of the batch of transactions. This lessens the load of data that needs to be executed by Ethereum, thereby saving time and cost.
REST APIs (Representational State Transfer Application Programming Interfaces) is an architectural style that executes supposedly complicated blockchain interactions (e.g. buying, selling, minting) that may take hours in simpler calls that do not require direct interaction with smart contracts and last in a matter of seconds.
IMX is an ERC-20 token. The total supply is 20 billion and the circulating supply is 235.3 million.
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