ImmutableX (IMX)

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What is ImmutableX?

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.

What makes IMX unique?

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.

Primary features of IMX coin

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).

Who are the founders of IMX?

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.

Pros and cons

Here are the pros and cons of investing in IMX coin:

Pros of ImmutableX (IMX)

• 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.

Cons of ImmutableX (IMX)

• Immutable X faces considerable competition from other Layer-2 solutions based on Ethereum.

Trade ImmutableX (IMX) on CoinSwitch

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!

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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.