What is Immutable X?

Immutable X is a way to make Ethereum work better for things like unique digital items (NFTs). It was started in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly.

It helps transactions happen quickly and with very low fees when people create or trade NFTs. People can also make and trade other types of tokens at lower costs without worrying about the safety of what they own.

Quick Facts

• Faster Transactions: Immutable X makes Ethereum transactions quicker by adding an extra layer.

• Instant NFTs: It confirms NFT trades right away, avoiding delays.

• Lower Fees: Immutable X cuts down fees for making and trading NFTs.

How does Avalanche work?

At the heart of Immutable X is a special technology called Zero-Knowledge Rollup (ZK-Rollup). This is like a way to make Ethereum transactions faster. Instead of putting every transaction on Ethereum, ZK-Rollup puts many transactions together into something called a "zk-STARK proof."

This proof keeps things private and secure. It's a smart way to show you have certain information without telling everything about it. This makes Immutable X transactions really private and safe.

Once the transactions are put together, the proof goes to Ethereum to be checked by a smart contract. This contract keeps all the details on a special layer 2, so the proof can be checked quickly without needing all the details of each transaction.

This also means it doesn't need too much computer power. Because of this, Immutable X can handle up to 9,000 transactions per second without costing a lot in gas fees. And people using Immutable X don't need to pay gas fees.

When people trade or make NFTs on Immutable X, it's not bad for the environment. For example, making NFT trading cards for a game would usually use a lot of energy on Ethereum. But with Immutable X, it uses much less energy because of ZK-Rollup. The small bit of energy it does use is balanced out with carbon credits.

Another cool thing about Immutable X is it has special tools (APIs) that make it easy to do things on the blockchain. People can make and move NFTs with these tools without needing to know all the technical stuff. Developers can use these tools to make their projects faster. They can make games and more in just a short time.

To help NFT markets, Immutable X has a big order book that lets NFTs be bought and sold in different places. This makes trading NFTs easier. It also works

with different Ethereum wallets, so people can trade NFTs without moving their things around too much.

What is IMX used for?

IMX is the special token of Immutable X. It's like a tool and a decision token, and there are 2 billion of them. IMX helps with paying for actions and encouraging people on Immutable X. People who do things to help, like trading NFTs or making things, can get IMX tokens.

IMX is also useful because it lets token owners get rewards. They can get rewards by putting their tokens into reward pools. They can also join in making decisions for Immutable X by suggesting things and voting on ideas from the community. The more IMX tokens they have, the more their vote counts.

Who Founded Avalanche?

In 2018, James Ferguson, Robbie Ferguson, and Alex Connolly started Immutable. The company's main office is in Sydney, NSW, Australia.

What Influences AVAX’s Price?

Market Demand and Supply

The price of IMX is primarily determined by the balance between the number of people wanting to buy the token (demand) and the number of people willing to sell it (supply). If more people are interested in acquiring IMX than those willing to sell, the price tends to increase. Conversely, if more people are selling than buying, the price may decrease.

Platform Adoption

The level of adoption of the Immutable X platform significantly impacts IMX's price. As more users and projects use the platform for NFT trading and application development, the demand for IMX increases. Greater adoption implies higher utility for the token, potentially leading to a positive price trend.

Utility and Staking

IMX tokens serve practical functions within the Immutable X ecosystem, such as paying for transaction fees and participating in staking for rewards. As more users engage in transactions and staking activities, the demand for IMX can grow, contributing to price appreciation.

Market Sentiment

The overall sentiment surrounding Immutable X, NFTs, and the broader cryptocurrency market can sway investors' decisions. Positive news, developments, and community discussions can lead to increased buying interest, driving the token's price higher. Negative news, on the other hand, can result in selling pressure and price declines.

Ethereum and Blockchain Trends

Since Immutable X is built on the Ethereum blockchain, trends in the Ethereum ecosystem can impact IMX's price. Technological upgrades, changes in gas fees, and shifts in user behavior on Ethereum can influence how investors perceive the value of IMX.

How To Buy IMX ?

To buy IMX tokens, you can follow these general steps:

Choose a Cryptocurrency Exchange

Look for a reputable cryptocurrency exchange that supports trading of IMX tokens. Some popular exchanges might include Binance, KuCoin, and Uniswap.

Create an Account

Sign up for an account on the chosen exchange. This typically involves providing your email, creating a password, and going through any required verification steps.

Complete Verification

Depending on the exchange's policies, you might need to verify your identity. This often involves providing a government-issued ID, proof of address, and other relevant information.

Deposit Funds

Deposit the cryptocurrency (like Ethereum or Bitcoin) that you intend to use to buy IMX tokens into your exchange account. Follow the instructions provided by the exchange for making deposits.

Find IMX Trading Pair

Search for the IMX trading pair on the exchange. This means finding a trading pair where IMX is paired with another cryptocurrency, usually Ethereum (ETH) or a stablecoin like USDT.

Place an Order

Choose whether you want to place a market order (buy at the current market price) or a limit order (set your own price). Enter the amount of IMX tokens you want to buy and confirm the order.

Review and Confirm

Double-check all the details of your order, including the number of IMX tokens you're buying and the total cost. Confirm the order when you're satisfied.

Final Thoughts on IMX

Immutable X is a solution that improves Ethereum for unique digital items called NFTs. It was started in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, making transactions quick and inexpensive for NFT creation and trading. This helps lower costs for other tokens too, all while keeping things secure.

It uses Zero-Knowledge Rollup (ZK-Rollup) technology, which bundles many transactions together for privacy and speed. Transactions get checked on a different layer to save time and energy. IMX is Immutable X's special token, useful for transactions and rewards. People who help by trading or creating NFTs can earn IMX. IMX's price is affected by demand, platform use, utility, sentiment, and Ethereum trends. To buy IMX, find an exchange, create an account, deposit funds, find the IMX trading pair, place an order, confirm, wait, and check your wallet.