Record Breaks in This Altcoin: Outperformed Its Closest Rival!

Optimism (OP) altcoin network reached a record high in the number of transactions with 691,414 transactions carried out on January 7. This figure is the competitor Arbitrum It is particularly notable as it exceeds the total number of transactions completed on its network.

Most of these actions will send users to Optimism. cryptocurrency It was about the Op Odyssey mission, which rewards them for completing various missions in their network. It is worth noting that there is a similar application in the Arbitrum network.

On January 7, the total number of L2 transactions surpassed Ethereum L1 with 1,043,437.

Optimism (OP) Altcoin Price Shows A Significant Increase In The Last Week

However, the rise in the price of the Optimism (OP) token is also noteworthy. The price of the token has risen from 0.96 to 1.35 dollars in the last 1 week.

According to Token Terminal, the increase in activity on the Optimism network resulted in a 42.81% increase in fees collected and a 71.38% increase in protocol revenue.

This is a positive sign for the growth and success of the Optimism network.

Optimism is a decentralized, open-source network that enables users to build and run decentralized applications (dApps) on the Ethereum blockchain. It is designed to improve the scalability, speed, and accessibility of Ethereum, making it more suitable for a wider range of applications and uses.

Optimism uses a layer 2 (L2) scaling solution called “optimistic rollup” to realize these improvements.

Optimistic rollup allows the Optimism network to perform off-chain transactions and then aggregate them and publish them on the Ethereum main chain in a single, large transaction.

In this way, Optimism is able to handle higher volumes of transactions than is possible on the Ethereum main chain alone, while maintaining the security and decentralization of the Ethereum network.

*Not investment advice.