Because the layer-1 blockchain Ethereum continues to develop and evolve, layer-2 blockchains like Optimism are working to alleviate problems with scaling, pace and prices.
“We’ve been engaged on the identical factor since 2017,” Jing Wang, Optimism’s CEO and co-founder, stated on TechCrunch’s Chain Reaction podcast. “We’ve all been making an attempt to unravel the identical drawback for a very long time.”
The mission to scale Ethereum is ongoing, stated Ryan Wyatt, chief progress officer at Optimism. Earlier than becoming a member of Optimism, Wyatt was the president of Polygon Labs, the entity constructing the layer-2 blockchain Polygon.
Because it stands, utilizing and transacting with Ethereum continues to be comparatively clunky, sluggish and costlier. That’s why layer-2 (L2) blockchains like Optimism exist: to give attention to scaling and pace, whereas additionally decreasing prices for customers. It helps customers work together with Ethereum’s chain for about 10x cheaper by its personal community and likewise offers builders the flexibility to construct decentralized purposes (dApps) in a quicker, scalable method.
“Simply as Amazon is a serverless again finish for web2 purposes, Optimism is a decentralized serverless again finish for web3 purposes,” Wang stated. “We wished to scale Ethereum as a result of I believe Ethereum stays essentially the most near the unique decentralization values and we wished to present it a go staying near those self same values.”