Optimism is a layer-two blockchain that operates on top of Ethereum. It leverages the security of the Ethereum mainnet and helps scale the Ethereum ecosystem through the use of optimistic rollups. This means that transactions are recorded trustlessly on Optimism, but ultimately secured on Ethereum. With over $500 million in total value locked, Optimism is one of the leading scaling solutions for Ethereum, hosting 97 protocols, including Synthetix (SNX), Uniswap (UNI) and Velodrome (VELO). Users can access Optimism by adding the chain to their Metamask wallet and bridging tokens like ETH to layer-two.
Optimism is built around four core principles: simplicity, pragmatism, sustainability and optimism. It aims to minimize the number of components while providing a layer-two solution for Ethereum. This approach involves using existing Ethereum code and infrastructure whenever possible and keeping the code as simple as possible.
The ecosystem is driven by the real-world needs and constraints of the team and users, with a focus on building iteratively and gradually implementing features such as EVM equivalence. The design process prioritizes long-term sustainability and avoids shortcuts to scalability. Optimism uses optimistic rollups and takes advantage of the Ethereum consensus mechanism to scale the network. Transactions are executed on layer-two, while batches of transactions are submitted to layer-one. The layer-two does not have a mempool, and transactions are immediately accepted or rejected, providing a smooth user experience while maintaining security.
Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a period of seven days. After that, a transaction is considered final, which is why withdrawals from Optimism to Ethereum take seven days to complete.
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The 3D RSI for $OP went oversold and is now bouncing back quite nicely. Sooner or later it will get its pump; the fundamentals are just too strong.
At the latest when the new bull market really begins - approximately in 2024. It’s still a good time to buy and accumulate Crypto right now.
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Adjusting our strategy to include new coins $LINA $LDO and adjust positions of $OP $ARB and sell $BTC for altcoins.
Thanks for indicating the beginning of the alt coin season by getting rid of that BTC dinosaur junk ;)
I need to apologize for the misinterpretation of the $OP chart. However, after such a drawdown with all the long-term RSI being oversold, it is a great opportunity to buy some for a huge discount.
🔵 Optimism $OP
Optimism it is a layer 2 scaling solution that can be used on top of Ethereum.
Optimism is a project that aims to improve the scalability of Ethereum by using a technology called Optimistic Rollups, which allows for a significant increase in transaction throughput without sacrificing security.
Optimistic Rollups work by processing transactions off-chain, then periodically submitting batches of these transactions to the Ethereum network for final settlement.
By using Optimistic Rollups, Ethereum dApps (decentralized applications) can operate more efficiently and at a lower cost, making it more accessible to users and developers alike.
This technology has the potential to greatly improve the overall scalability and performance of the Ethereum network, and other Layer 2 scaling solutions such as zk-rollups are also being developed to further enhance the scalability of Ethereum.
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How about $XMR though? I'd love to be able to buy, deposit and withdraw that coin the most out of all!