Optimism

Ethereum Layer 2 Scaling Solution Optimism Mainnet Launch Postponed

The much awaited mainnet of Ethereum Layer 2 scaling solution, Optimism, which was expected to be launched this week, has been shifted to July. According to the solution developers, the mainnet launch is a joint effort involving the Ethereum ecosystem.

The statement stated that allowing the public to access the mainnet requires a collaborative effort between Optimism, and the major providers of core infrastructure such as explorers, wallets and oracles. The Optimism mainnet would be launched when there’s stability in the ecosystem and when it is ready.

Optimistic Rollup-based Ethereum scaling solution, launched in June 2019, is working towards reducing Ethereum’s gas fees while increasing its throughput.

Synthetix Integrates Optimism

Early this year, Optimistic Virtual Machine (OVM) was launched on decentralized exchange Synthetix. The implication is that Synthetix would integrate OVM in 4 stages to reduce the risk to the Synthetix platform.

Users of Synthetix are currently enjoying fast speed as well reduced costs. Optimism claims that about $10 million transaction had been shaved off in over 100k transactions. The scaling solution is also planning to integrate with Uniswap protocol soon. Uniswap stated that it aims to deploy a L1 Ethereum mainnet of its V3.0 in May. After that, L2 would be deployed on the solution.

Optimism has led the way in Optimistic Rollups. A rollup offers scaling solution by rolling up multiple transactions into one transaction. Vitalik Butterin had described rollup as a strong solution to the problem of Ethereum scaling both in the short and mid-term. Maybe in the long term too. He said these technologies are in their early stages and that there’s more work to be done on them in the future.

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