Immutable X (IMX) is an Ethereum-based solution that aims to address the scalability issues faced by NFTs on the blockchain. Founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, Immutable X offers instant transaction confirmation and near-zero transaction fees for minting and trading NFTs, providing users with a seamless and cost-effective experience. By leveraging innovative scaling technology, Immutable X seeks to unlock the full potential of NFTs while maintaining the security and decentralization of the Ethereum network.
At the core of Immutable X is a Layer 2 protocol called Zero-Knowledge Rollup (ZK-Rollup), which combines hundreds of transactions into a single zero-knowledge proof known as zk-STARK. This proof is then sent to the Ethereum Blockchain and verified by a smart contract, significantly reducing the computational and storage resources required for transaction validation. As a result, Immutable X can achieve speeds of up to 9,000 transactions per second (TPS) with zero transaction fees for end-users, making it an efficient solution for NFT trading and minting.
One of the key advantages of Immutable X is its commitment to environmental sustainability. By utilizing ZK-Rollup, the platform achieves 100% carbon neutrality, drastically reducing energy consumption compared to traditional Ethereum transactions. Additionally, Immutable X provides robust REST APIs and user-friendly software development kits (SDKs) that enable developers to easily integrate NFT functionality into their applications. This facilitates the rapid development of NFT projects, such as play-to-earn games, with minimal time and effort.
The IMX coin serves as the main network asset of Immutable X and functions as both a utility and governance token within the platform. With a total supply of 2 billion, IMX is used to pay transaction fees, incentivize users and developers, and participate in platform governance. Participants can earn IMX coins through various activities, including trading NFTs, contributing to platform growth, and staking in reward pools. IMX holders also have voting power in the governance of Immutable X, allowing them to submit community proposals and participate in votes.
For investors in Turkey who are interested in purchasing IMX, Binance TR is the most suitable cryptocurrency exchange. Binance TR allows users to easily create an account and offers a wide range of cryptocurrencies, including IMX, for buying and selling. To open an account on Binance TR, users need to visit trbinance.com and follow the steps for account creation, which include providing basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
Identity verification is an essential security procedure that must be completed before starting cryptocurrency trading on Binance TR. Users can verify their identity through the Binance TR website or using their mobile phones. The verification process involves scanning a QR code or entering an identity verification address on the phone and providing relevant documents, such as ID cards or driver’s licenses, for verification.
Depositing Turkish lira (TRY) into a Binance TR account is straightforward and can be done from various banks. Users can deposit TL 24/7 from banks like Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. For other banks, deposits up to 50,000 TL can be made 24/7 using FAST, while deposits over 50,000 TL are processed during EFT hours. To deposit money, users need to go to trbinance.com, select the “Wallet” option, and click on “Deposit.” From there, users can choose their preferred bank and follow the instructions for making the transfer.
Once the deposit process is complete, users can proceed to buy IMX coins with TL by clicking on the “Buy-Sell” option on the Binance TR website. On the buying page, users need to enter the desired price and quantity of IMX coins they want to purchase and click the “Buy IMX” button to complete the transaction.
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange. Launched in 2020, Binance TR provides cryptocurrency trading services specifically tailored to Turkish investors. It leverages Binance’s technology, security measures, and liquidity to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR. The platform provides market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
It’s important to note that the information provided in this article does not constitute investment advice, and investors should conduct their own research and be aware of the high volatility and risks associated with cryptocurrencies.
