Optimism (OP) is a Layer 2 scaling solution designed for Ethereum, enabling the support of all Ethereum applications through the use of optimistic rollup technology. This approach batches transactions, resulting in significant savings on gas fees. OP functions mainly as the governance token for managing the protocol.
What Does Optimism Offer?
Optimism is crafted to address the needs of both developers and users, continuously aiming for improvement. By leveraging Ethereum’s well-tested infrastructure, Optimism allows applications to be built on its Layer 2 platform. Furthermore, it is fully compatible with the Ethereum Virtual Machine, meaning all existing Ethereum applications and tools function seamlessly on Optimism.
The Optimism Foundation, a non-profit entity, is dedicated to expanding the Optimism Collective. Their mission extends beyond scaling Ethereum technology; they aim to create pathways for impactful projects that may lack successful business models but contribute to the broader Ethereum ecosystem.
How Is Optimism Funded?
Until full decentralization is achieved, revenues from the centralized sequencer are allocated to scaling and maintaining public goods. The Optimism Collective, a newly formed community, is focused on rewarding public goods and ensuring Ethereum’s sustainable future. Public goods, often underfunded, are the cornerstone of this community effort.
Key Advantages of Optimistic Rollup
Optimistic Rollup offers several benefits to its users, including:
- Usability: Low-latency transactions providing a Web 2.0 speed experience and affordable smart contracts.
- Developer Experience: Retention of familiar Ethereum development tools, facilitating smooth migration without disrupting existing contracts.
- Interoperability: Seamless interactions between decentralized applications (dApps) and smart contracts.
OP Coin Review
OP has garnered significant attention, particularly following its listing on Binance. As the native cryptocurrency of Optimism, OP tokens offer multiple advantages, including compatibility with Ethereum, attracting investor interest.
How to Buy OP Coin?
Purchasing OP Coin is straightforward on Binance, the world’s largest cryptocurrency exchange by trading volume. Users must first register on Binance, deposit fiat currency, and can then buy OP Coin in trading pairs such as BTC, BUSD, and USDT. Additionally, users can place limit orders to buy OP at their desired price.