What is Optimism?
Optimism is an extensible Layer 2 solution for Ethereum developed to help users reduce transaction fees and increase transaction speeds for a better user experience. Optimism is built on Optimistic Rollups technology.
To increase transaction speed Optimistic rollups will not calculate transactions, but will use a fraud proof mechanism to ensure transactions are legitimate and avoid fraud. If someone notices a fraudulent transaction, rollups performs anti-fraud and runs the transaction's calculation, using available state data. This means that users may have a longer wait time for transaction confirmation than with ZK-rollup because the transaction may be subject to challenge. Optimism highlights:
Scalability: Optimism can improve scalability by 10–100x, depending on the nature of the transaction.
Reduced transaction fees: Optimism can significantly reduce transaction costs. Rollup technology combines multiple transactions into a single transaction, helping to reduce transaction costs.
Security: As Optimism's Layer 2 is built on Ethereum, transactions are settled on the Ethereum Mainnet, allowing users to benefit from the secure and decentralized environment of Ethereum.
Enhanced user experience: New projects using the Optimism Layer 2 scaling solution benefit from low fees, faster transaction processing speeds, and better overall user experience.
