Immutable X (IMX)

Immutable X was founded by Robbie Ferguson and James Ferguson, who are brothers with a background in blockchain technology and gaming.

Here is detailed information about the founders:

1. Robbie Ferguson:
– Robbie Ferguson is the CEO and co-founder of Immutable X. He has a strong background in blockchain technology and entrepreneurship. Before founding Immutable X, Robbie was the co-founder and CEO of Immutable, a blockchain gaming company known for creating the popular trading card game “Gods Unchained.”
– Robbie has been a prominent figure in the blockchain gaming space, advocating for the adoption of blockchain technology in gaming and NFTs. His vision for Immutable X was to address the scalability and cost issues faced by NFT traders on the Ethereum network.

2. James Ferguson:
– James Ferguson is the CTO and co-founder of Immutable X. He is a highly skilled developer and technologist with expertise in blockchain technology and software development. James has played a key role in designing and implementing the technical architecture of Immutable X.
– Prior to co-founding Immutable X, James worked on various blockchain projects and gained valuable experience in scaling solutions and decentralized applications.

Together, Robbie and James Ferguson have led Immutable X to become a leading layer 2 scaling solution for NFT trading on Ethereum. Their combined expertise in blockchain technology, gaming, and software development has been instrumental in the success of Immutable X and its mission to revolutionize the NFT industry.

Immutable X (IMX) stands out in the blockchain and NFT space due to several unique features and characteristics.

Here is detailed information on what makes Immutable X unique:

1. Zero Gas Fees: One of the key features that make Immutable X unique is its zero gas fee model. By utilizing zk-rollups technology, Immutable X is able to batch transactions off-chain and settle them on-chain, eliminating gas fees for users. This makes trading NFTs on Immutable X cost-efficient and accessible to a wider audience.

2. Instant Trade Confirmation: Immutable X offers instant trade confirmation, providing users with a seamless and efficient trading experience. Compared to the slower confirmation times on the Ethereum network, Immutable X ensures that transactions are confirmed quickly, enhancing user satisfaction and usability.

3. Scalability: Immutable X is designed to handle a high throughput of transactions, making it suitable for large-scale NFT trading and gaming applications. The platform’s scalability ensures that users can trade NFTs without experiencing network congestion or delays, even during peak trading periods.

4. Security: By leveraging the security of the Ethereum network, Immutable X ensures that assets stored on the platform are secure and tamper-proof. Users can trust that their NFTs are protected and that transactions are executed in a secure environment.

5. Carbon Neutral: Immutable X is committed to being carbon neutral by using a Proof of Authority (PoA) consensus mechanism that does not rely on energy-intensive mining. This eco-friendly approach aligns with the growing focus on sustainability in the blockchain industry.

6. Native Utility Token (IMX): IMX is the native utility token of Immutable X, used for governance, staking, and transaction fees on the platform. IMX holders can participate in platform governance decisions and earn rewards by staking their tokens, enhancing community engagement and decentralization.

7. Partnerships and Integration: Immutable X has formed partnerships with major NFT projects and marketplaces, solidifying its position as a leading layer 2 solution for NFT trading. These partnerships enhance liquidity and accessibility for users, making Immutable X a preferred choice for NFT enthusiasts and collectors.

Overall, the combination of zero gas fees, instant trade confirmation, scalability, security, sustainability, native utility token, and strategic partnerships makes Immutable X a unique and innovative platform in the NFT space, addressing key challenges and driving the adoption of blockchain technology for NFT trading.

Immutable X (IMX) has a total fixed supply of 100 million IMX tokens.

The distribution of IMX tokens is as follows:

1. Token Sale: A portion of IMX tokens were allocated for the initial token sale to early investors, supporters, and contributors to the project.

2. Community Rewards: IMX tokens are used for community rewards, incentives, and ecosystem development to encourage participation and engagement within the Immutable X platform.

3. Team and Advisors: A certain percentage of IMX tokens are allocated to the team and advisors as a reward for their contributions to the project and to align their interests with the long-term success of Immutable X.

4. Reserve: A reserve of IMX tokens is held to support the platform’s operations, future development, and strategic initiatives.

5. Staking and Governance: IMX tokens are used for staking and governance on the Immutable X platform, allowing token holders to participate in governance decisions and earn rewards for staking their tokens.

The circulating supply of IMX tokens can fluctuate based on factors such as token vesting schedules, token burns, and token unlocks. It’s important to check the latest data from reputable sources or the Immutable X team for the most up-to-date information on the circulating supply of IMX tokens.

IMX tokens play a crucial role in the Immutable X ecosystem, serving as a utility token for governance, staking, transaction fees, and community engagement. The fixed supply of IMX tokens ensures scarcity and can impact the token’s value and utility within the platform.

The Immutable X (IMX) network is secured through a combination of innovative technologies and protocols to ensure the integrity and safety of transactions and assets on the platform.

Here is detailed information on how the Immutable X network is secured:

1. zk-rollups Technology: Immutable X utilizes zk-rollups technology to batch transactions off-chain and settle them on-chain. This layer 2 scaling solution allows Immutable X to achieve high throughput while maintaining the security of the Ethereum network. zk-rollups provide a cryptographic proof of the validity of transactions, ensuring that all transactions are secure and tamper-proof.

2. Ethereum Network Security: Immutable X leverages the security of the Ethereum network, one of the most secure and decentralized blockchains in the industry. By anchoring Immutable X transactions to the Ethereum mainnet, the platform benefits from the robust security features of Ethereum, including its proof-of-work consensus mechanism and network of nodes.

3. Immutable X Protocol: The Immutable X protocol is designed with security in mind, implementing best practices to protect user assets and data. The protocol includes measures to prevent unauthorized access, mitigate potential vulnerabilities, and ensure the overall integrity of the platform.

4. Proof of Authority (PoA) Consensus Mechanism: Immutable X uses a Proof of Authority (PoA) consensus mechanism, which relies on a set of approved validators to validate transactions and secure the network. PoA consensus is more energy-efficient than traditional proof-of-work mechanisms, making it a sustainable and secure option for securing the Immutable X network.

5. Smart Contract Audits: Immutable X conducts regular security audits of its smart contracts to identify and address any potential vulnerabilities or weaknesses. By engaging reputable third-party auditors, Immutable X ensures that its smart contracts are secure and free from critical security flaws.

6. Continuous Monitoring and Upgrades: The Immutable X team continuously monitors the network for any security threats or vulnerabilities and implements necessary upgrades and patches to maintain the platform’s security posture. Regular updates and improvements help strengthen the security of the Immutable X network over time.

By combining zk-rollups technology, Ethereum network security, the Immutable X protocol, PoA consensus mechanism, smart contract audits, and continuous monitoring, Immutable X ensures a high level of security for its users and their assets. These security measures contribute to the platform’s reputation as a safe and reliable environment for trading non-fungible tokens (NFTs) and engaging in decentralized applications.