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Immutable X is a Layer-2 solution based on Ethereum. In fact, it was the first L2 scaling solution for NFTs. It offered immediate trading of NFTs, large scalability, and low gas costs without compromising user security and underlying assets. Immutable X is also considered to be one of the most technically advanced scaling solutions for Ethereum. It operates through its ERC-20 token.
Immutable X solves a few primary difficulties in the blockchain world. First, it addresses concerns relating to developer constraints. The network allows users to configure essential parameters like trading costs and even mint NFTs one by one instead of in a single, bulk order.
Here are some primary features of the IMX coin:
• IMX primarily streamlines the NFT generation process by providing an easy-to-use dashboard.
• Users can also use the environment to create, issue, and distribute ERC-721 and ERC-20 tokens (based on Ethereum).
Founded in 2018, Immutable X was the brainchild of brothers James and Robbie Ferguson. They created IMX to address the trilemma of NFT propagation: accessibility, scalability, and real decentralization. The project raised $15 million in its first round of investment from popular firm Naspers Ventures.
•Immutable X deals exclusively with one of the fastest-growing crypto applications– NFTs.
• Immutable X also works with REST APIs which let users call a simple API through the blockchain to mint, trade, or transfer NFTs.
• Immutable X also supports a third-party marketplace ecosystem without security risks.
• Immutable (IMX) is a solution provider for Ethereum and NFTs.
• It facilitates NFT trading across various blockchains.
• Makes NFT trading more seamless and allows NFT-enabled crypto wallets.
• Immutable X faces considerable competition from other Layer-2 solutions based on Ethereum.
• The volatility in the crypto market may impact the IMX token price.
• When it was launched, Immutable (IMX) was the first in the market, but now the platform faces several strong competitors.
• The success of Immutable blockchain and its token IMX depends on widespread adoption by crypto users.
• Trade in Immutable (IMX) by downloading the CoinSwitch app.
• Start trading in IMX with just ₹100.
• CoinSwitch offers a secure and friendly environment for trading in IMX with just a nominal fee.
Now you can use the CoinSwitch app to trade IMX coins with hundreds of other cryptos. Visit our website to download the app and start trading today!
Immutable X is backed by some of the top venture capitalists and market veterans including Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital. Back in March 2022, Immutable announced it secured $200 million in Series C financing led by Temasek, Animoca Brands, and Tencent, bringing its valuation to $2.5 billion.
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1. Is Immutable coin secure?
Yes, an Immutable coin (IMX) is considered secure. Immutable X utilizes zk-Rollups, a cutting-edge security technology, to ensure the security and immutability of NFT ownership and transactions. The platform is built on Ethereum, which is known for being decentralized and secure, providing robust security and tamper-proof transactions. Additionally, Immutable X offers gas-free NFT minting and high transaction speeds using StarkEx zero-knowledge rollups, further enhancing its security.
2. How fast are Immutable coin transactions?
Immutable coin (IMX) transactions can process up to 9,000 transactions per second (TPS) using StarkEx zero-knowledge rollups (ZK rollups).
3. Has Immutable coin price undergone market correction?
Yes, the price of Immutable coin (IMX) has undergone market correction. After peaking at $9.50 in November 2021, the price experienced a significant drop and fluctuated at lower levels since then.
4. When was Immutable coin launched?
The Immutable coin (IMX) was launched on November 5, 2021, following an initial exchange offering (IEO) on the Huobi Global exchange and two initial coin offerings (ICOs).
Highlight
Immutable (IMX) is a layer 2 platform that specifically focuses on NFT minting and GameFi dApps deployment on the Ethereum blockchain.
IMX Price Today
IMX Price
₹12.41
Price Change 24h
0%
Price Change 7d
5.8%
Market Rank
#110
Market Cap
₹2,438 Cr.
Trade Vol 24h
₹57 Cr
Circulating Supply
₹200 Cr. IMX
Trading Activity
Not Available
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
