Optimism (OP) is a Layer 2 scaling solution for Ethereum that seeks to improve the speed and reduce transaction costs on the network.
It uses a technology called "optimistic rollups" to process multiple transactions off the main chain and then consolidate them into a single transaction on Ethereum, while maintaining the security and decentralization of the original network.
Main features:
Decentralization: It operates on a global network of computers (blockchain) that records and validates transactions transparently and securely, without a central authority.
Ethereum Compatibility: Optimism is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to migrate their existing decentralized applications (dApps) without significant modifications.
Cost reduction: By processing transactions off-chain, Optimism manages to reduce gas fees, making transactions cheaper for users.
Utilities:
dApp Scalability: Allows decentralized applications to handle higher transaction volumes without congesting the Ethereum mainnet.
Faster and cheaper transactions: Users can perform transactions faster and at a lower cost, improving the overall network experience.
Developer Incentives: Optimism offers incentive programs to encourage the migration and development of new dApps on its platform.
Whitepaper:
The Optimism whitepaper is available on their official website.
Optimism (OP) price evolution yearly:
This is a list of the approximate price of OP at the end of each year since its launch:
2022: $0.91
2023: $1.50
2024: $2.23 (as of November 24)
* A good project that, if well adapted, can bring many surprises, but this does not mean that it is an investment recommendation *
