Name: Immutable X
Brand: Immutable X
SKU: IMX
Price: 0.23 USD
Availability: InStock

Question 1

What is Immutable (IMX)?

Accepted Answer

Immutable (IMX) is the native token for the Immutable X network, the first layer 2 scaling solution for non-fungible tokens (NFTs) on the Ethereum blockchain. It aims to overcome Ethereum's limitations such as scalability, user experience, and liquidity issues by utilizing StarkEx ZK-Rollup technology, which allows for a high transaction throughput and zero gas fees for users trading NFTs.

Question 2

What differentiates Immutable (IMX) from other tokens?

Accepted Answer

What sets Immutable (IMX) apart from other tokens is its specific focus as a layer 2 solution dedicated to NFTs. Leveraging zk-rollups, Immutable X can process vast amounts of transactions (up to 9,000 per second) while providing a seamless and cost-effective user experience. It also hosts a shared global order book, making it viable for NFT marketplaces to exist without traditional backend requirements.

Question 3

What is the utility of Immutable (IMX)?

Accepted Answer

The utility of Immutable (IMX) spans across fees, staking, and governance. Users need to pay 20% of transaction fees with IMX, and they can stake their tokens to earn a share of network fees. Furthermore, token holders can participate in decisions regarding governance proposals, aligning the community's interest with the platform's growth.

Question 4

What does the Immutable (IMX) whitepaper promise?

Accepted Answer

The Immutable (IMX) whitepaper outlines a vision for a scalable, user-friendly blockchain dedicated to NFTs. It promises to deliver zero gas fees for trading and minting, rapid transaction processing, and a robust ecosystem encouraging participation from developers and users of all experience levels, thereby democratizing access to blockchain gaming.

Question 5

What consensus mechanism does Immutable (IMX) use?

Accepted Answer

Immutable X utilizes StarkEx ZK-Rollup technology as its consensus mechanism, providing a highly scalable environment for trading NFTs on Ethereum.

Question 6

Who created Immutable and why?

Accepted Answer

The founders of Immutable X are James Ferguson and Robbie Ferguson. They aimed to create a solution to Ethereum's scalability issues and provide a better user experience for NFT trading.

Question 7

When was the Immutable (IMX) token created?

Accepted Answer

The cryptocurrency Immutable (IMX) was created following a seed round in 2018 and a Series A funding round in September 2019.

Question 8

How do I use the Immutable (IMX) token?

Accepted Answer

The IMX token can be used for several purposes, including paying transaction fees, participating in staking to earn a share of network fees, and voting on governance proposals.

Question 9

Where do I buy the Immutable (IMX) token?

Accepted Answer

Immutable can be bought on the SwissBorg app with just a few clicks. Download the app for Android or iOS and exchange cryptos instantly at the best price.

Question 10

What problem or need does Immutable aim to address?

Accepted Answer

Immutable X addresses key limitations in the Ethereum blockchain, such as scalability, high gas fees, poor user and developer experiences, and illiquidity issues. By utilizing zk-rollup technology, it enables fast transactions and a seamless experience for trading non-fungible tokens (NFTs) while eliminating gas fees.

Question 11

Is the Immutable (IMX) open-source, and can I review its code?

Accepted Answer

Immutable is built on open-source principles, allowing users to review the code and understand its mechanisms. This transparency fosters accountability and encourages community contributions to the protocol.

Question 12

How was the Immutable (IMX) token generated?

Accepted Answer

The IMX token was generated as part of Immutable X's development, specifically designed as an ERC-20 utility token for fees, staking, and governance within the ecosystem. The total supply cap of IMX is set at two billion tokens.

Question 13

What is the Immutable (IMX) transaction speed and scalability?

Accepted Answer

Immutable X boasts an impressive scalability of up to 9,000 transactions per second (TPS), utilizing layer 2 zk-rollup technology to allow for high-speed trading without sacrificing security or user experience. This technology processes and finalizes thousands of trades off-chain and records the transaction validity on Ethereum, ensuring both security and efficiency.

Question 14

Is Immutable (IMX) environmentally friendly in terms of energy consumption?

Accepted Answer

Immutable X is designed to be 100% carbon neutral, meaning all NFTs traded on its platform have no negative impact on the environment. This commitment positions Immutable X as an environmentally friendly solution in the cryptocurrency and NFT sectors.

Question 15

What is the governance model for Immutable (IMX)?

Accepted Answer

The governance model of Immutable X is centered around the IMX token. Token holders have the ability to participate in decision-making processes by voting on improvement proposals, thus allowing users to influence the future development and governance of the protocol.

Question 16

What are the long-term goals and vision for Immutable?

Accepted Answer

Immutable X aims to revolutionize gaming and NFT ownership by providing a user-friendly platform that enables truly decentralized asset ownership. The long-term vision includes empowering gamers with the ability to buy, sell, and trade their digital assets seamlessly and efficiently, all while leveraging Ethereum's security and scalability.

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What is Immutable (IMX)?

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Immutable X Price

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Market Stats

What is Immutable (IMX)?

What differentiates Immutable (IMX) from other tokens?

What is the utility of Immutable (IMX)?

What does the Immutable (IMX) whitepaper promise?

What consensus mechanism does Immutable (IMX) use?

Who created Immutable and why?

When was the Immutable (IMX) token created?

How do I use the Immutable (IMX) token?

Where do I buy the Immutable (IMX) token?

What problem or need does Immutable aim to address?

Is the Immutable (IMX) open-source, and can I review its code?

How was the Immutable (IMX) token generated?

What is the Immutable (IMX) transaction speed and scalability?

Is Immutable (IMX) environmentally friendly in terms of energy consumption?

What is the governance model for Immutable (IMX)?

What are the long-term goals and vision for Immutable?

Technical Analysis

Exclusive tools

Automate your investment today!

Receive notifications when Immutable X reaches certain prices.

Get paid to trade

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