12/30/2023 0 Comments Optimism crypto newsBut unlike some of its competitors, Optimism is actually a Public Benefit Corporation with an open source codebase that has already led to a number of popular forks. Optimism is approaching a half-billion in TVL, though Offchain Labs’ Arbitrum is closing in on nearly $3 billion as the market leader. The “total value locked” (TVL) on L2 platforms has exploded over the past year with around $5.75 billion currently held on these blockchains, according to tracker L2Beat. The Ethereum scaling startup tells TechCrunch they’ve closed a $150 million Series B funding round co-led by Andreessen Horowitz and Paradigm at a $1.65 billion valuation. One such scaling startup, Optimism, has found new backing from Silicon Valley’s most high-profile crypto investors - Paradigm and Andreessen Horowitz. Several of these startups have raised at unicorn valuations this year. Most blockchain developers believe these “Layer 2” (L2) solutions are the future of how Ethereum will meet the needs of a rapidly growing network, and venture capitalists have been rushing to stake claims on scaling solution products that they believe could be the central interface for how users interact with decentralized apps, mint NFTs and move money around. This has pushed some founders to build competing blockchains on entirely unique infrastructure, while others in the developer community are focusing their resources on building modular blockchain solutions that sit on top of Ethereum, bundling transactions faster and cheaper while keeping a record of the movements on the central chain. While the Ethereum blockchain has been very much central to the idea of a web3 crypto internet, the blockchain itself has had trouble keeping up with user demand. ![]() You can find more details about Optimism on its official website and on the block explorer.Throughout the most recent crypto bull run, plenty of new crypto users have interacted with the Ethereum network for the first time and have been surprised to find sluggish, expensive transactions. Optimism's current share of the entire cryptocurrency market is 0.12%, with a market capitalization of $ 2.06 Billions. Optimism’s 24 hour trading volume is $ 148.90 Million. The current circulating supply of Optimism is 911.29 Million tokens, and the maximum supply of Optimism is 4.29 Billions. Optimism's All Time High (ATH) of $ 3.24 was reached on, and is currently -30.2% down. Optimism's current price is $ 2.26, it has increased +2.92% over the past 24 hours. If you're building something in the Ethereum ecosystem, you can consider applying for the grant. 5.4% of the total token supply will be distributed to projects on Optimism over the next six months via governance. OP governs upgrades to the protocol and network parameters, and creates an ongoing system of incentives for projects and users in the Optimism ecosystem. ![]() ![]() The Optimism Collective is a large-scale experiment in digital democratic governance, built to drive rapid and sustainable growth of a decentralized ecosystem, and stewarded by the newly formed Optimism Foundation. OP is the token for the Optimism Collective that governs the Optimism L2 blockchain. This append-only list forms the Optimism blockchain. Optimism blocks are held within an append-only list inside of the CTC. This simplicity gives Optimism's design a number of significant advantages over other more complex L2 constructions.Īll Optimism blocks are stored within a special smart contract on Ethereum called the CanonicalTransactionChain (or CTC for short). Ideally, Optimism should be composed of the minimum number of moving parts required for a secure, scalable, and flexible L2 system. Optimism is designed to be as simple as possible for the featureset it provides. Optimism is a low-cost and lightning-fast Ethereum L2 blockchain.
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