Optimism (#OP ) is a layer-two blockchain that operates on top of Ethereum. It benefits from the security of the #Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. This means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum. 🛡️

As of now, Optimism has:

A live market cap of $1,046,139,388 USD

24-hour trading volume of $205,754,411 USD.

The circulating supply is currently 679,080,066 OP coins out of a max. supply of 4,294,967,296 OP coins.

The current CoinMarketCap ranking is #41, indicating a significant presence in the crypto market. 💹

Who Are the Founders of #Optimism ?

Optimism is led by the Optimism Foundation, a nonprofit organization dedicated to growing the Optimism ecosystem. Similar to Ethereum, Optimism aims to become a fully decentralized public good that is not profit-oriented. The foundation is completely funded by donations and grants, and pledges to produce infrastructure that promotes the growth and sustainability of public goods. 🌱

What Makes Optimism Unique?

Optimism is designed around four core tenets: simplicity, pragmatism, sustainability, and optimism. It aims for the minimum number of moving parts while building a layer-two solution for Ethereum. The ecosystem emphasizes pragmatism and is driven by the real-world needs and constraints of its own team and the users engaging with the ecosystem. 🌐

Optimism's design process is built around the idea of long-term sustainability and not taking shortcuts to scalability. That's why it uses optimistic rollups and takes advantage of the consensus mechanism of Ethereum to scale the network. This guarantees a smooth user experience while ensuring security through the Ethereum consensus mechanism. 🔐

How Many Optimism (OP) Coins Are There in Circulation?

The initial token supply is 4,294,967,296 OP tokens, at an inflation rate of 2% a year. In Year 1, 30% of the initial token supply will be made available to the Foundation for distribution.

After the first year, token holders will vote to determine the Foundation's annual OP distribution budget.

The Foundation expects to seek the following annual allocations:

Year 2: 15% of the initial token supply

Year 3: 10% of the initial token supply

Year 4: 4% of the initial token supply

How Is the Optimism Network Secured?

Optimism utilizes optimistic #rollups . Optimistic Rollups (ORs) can trustlessly record transactions on the second-layer blockchain and broadcast periodic merkle roots of the transactions to the first-layer blockchain. External validators verify these merkle roots, which delays withdrawing funds from layer-twos running on optimistic rollups (usually by one week). 🛡️

In conclusion, Optimism (OP) is a promising project with a unique utility in the Ethereum ecosystem. Its potential for growth is significant, making it a project to watch closely.

If you found this article informative, don't forget to like it and share it with your network. Let's spread the word about the exciting potential of Optimism! 👍🚀

#crypto2023 $OP $ETH

Binance has been actively involved in the rollups innovation by supporting projects that develop and implement rollup solutions.

Binance also offers a platform for users to trade cryptocurrencies that utilize these solutions, which can help to increase their adoption and usage. Additionally, Binance has developed its own blockchain, Binance Smart Chain, which includes support for rollup technology and can provide a scalable and efficient ecosystem for decentralized applications.

Optimistic rollups vs. ZK rollups

Rollups are a way to help blockchains handle lots of transactions without getting too slow or expensive. There are two kinds of rollups: optimistic and zero-knowledge. Optimistic ones are faster, but sometimes have mistakes that need to be fixed. Zero-knowledge ones are slower but more secure. Both kinds of rollups help make using blockchains easier and faster for everyone. As more people use blockchains, rollups will become even more important. Binance is working hard to improve its blockchain technology, including using rollups, to make it the best it can be.

#Binance #ZeroKnowledge #Optimistic #rollups #L2

Cryptocurrencies and blockchain technology have rapidly evolved in recent years, proving their potential to revolutionize the digital economy and financial systems. Among the leading projects in this field is Cardano, which, under the leadership of its founder Charles Hoskinson, continues to stand out in the industry with innovative solutions. In a recent Twitter update, Charles Hoskinson provided an exciting announcement about the implementation of rollup technology on Cardano. So, what is Cardano's rollup strategy, and why is it important? #ADA

What is Rollup?

Rollup is a Layer 2 solution that transfers the blockchain's transaction load from the main chain to side chains, thereby lightening the load on the main network. Side chains work in interaction with the main blockchain, enabling faster and lower-cost transactions. Charles Hoskinson emphasized the importance of integrating rollup technology into the Cardano ecosystem, stating that it marks a significant step forward for the project in terms of speed and scalability.

Cardano's Rollup Plan:

In April, during an Ask Me Anything (AMA) session, Charles Hoskinson hinted at the launch of ZK-Rollups on Cardano. Zero-Knowledge (ZK) based ZK-Rollup technology is considered a crucial step to overcome scalability issues and enable faster transaction processes. Hoskinson expressed that there is a "nice plan" to achieve Cardano's goals and revealed that this technology would be used to support side chain projects. #ZKRollup

Midnight: Cardano's Privacy-Focused Side Chain:

Midnight is an exciting development for the Cardano ecosystem, as it is a privacy-focused side chain project. Developed by Input Output Global (IOG), Midnight aims to protect sensitive personal and business data using zero-knowledge cryptography (ZK proof) and private-public computation combination. With applications in various fields such as financial workflows, health data, and supply chain operations, Midnight aims to offer a reliable and private data ecosystem within the Cardano ecosystem. #rollups #ZK

Cardano and Layer 2 Solutions:

Cardano has made significant strides in scalability and efficiency by advancing Layer 2 solutions. It has particularly explored working with side chains and off-chain solutions, such as ZK-Rollups. IOG has brought layer 2 technologies like the EVM side chain into public test stages, providing developers with the opportunity to use the Cardano ecosystem more effectively and build new dApps. Cardano enables developers to write Solidity smart contracts, dApps (decentralized applications), and ERC20 tokens by providing compatibility with Ethereum's tools and libraries. #cardano

In Summary:

Cardano continues to make significant strides towards building a more scalable, fast, and secure blockchain ecosystem with rollup technology. Founder Charles Hoskinson's plans to support side chain projects and integrate ZK-Rollups are promising for the future of the ecosystem. Privacy-focused side chain projects like Midnight expand Cardano's use cases, while Layer 2 solutions enhance the ecosystem's efficiency. We eagerly await Cardano's future developments, as this technology is expected to trigger even more innovation in the crypto world. $ADA