What Is Optimism (OP) That Cuts Ethereum Transaction Fees by Up to 92x?

In this article, we examined Optimism (OP), a scaling system of Ethereum, for you.

Optimism, which is stated to be low cost and very fast, is ethereum’s layer-2 protocol. Scaling protocols, which emerged as a solution to the increased transaction fees after the density of the Ethereum network, made transactions more quickly and at lower cost aims to do.

Using a technique called “Optimisctic Rollups”, the protocol combines multiple transactions into a single transaction and places them on its blockchain. optimism, cost savings for datas by tightening sends it to the ethereum blockchain. Designed almost the same as the Ethereum blockchain, with Optimism ERC-20 compatible cryptocurrency transfer can be done.

Daily based on Dune analytics data more than 100 thousand Optimism, Ethereum transaction fees up to 92 floors lowering it. In addition, the total number of cryptocurrencies on-chain value 705 million It’s around a dollar.

In the Series B funding round led by Andressen Horowitz (a16z) and Paradigm in March 150 million dollars initial value of the invested protocol $1.65 billion had happened.

Since June 2019 found Optimism released a test version in October of the same year and Mainnet transition by late 2021 he didn’t. About 10 days ago, the world’s largest cryptocurrency exchange Optimism integrated into its systems had announced.

Total locked value (TVL) based on Defi Llama data 275 million The dollar cryptocurrency supports 38 DeFi protocols, including Uniswap and Synthetix.

Optimism, which started to be traded on many exchanges as of June 1, is currently Binance, Huobi, Kucoin, FTX, Bybit and Gate.io listed on major stock exchanges.

Total supply 4.29 The currently circulating supply of cryptocurrencies, which is 214 million watching around. Also, Optimism’s native token OP is currently on exchanges. Trade at $1.54 he sees.

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