Top Optimism Ecosystem tokens by market capitalization
Optimism Ecosystem contains 72 coins with a total market capitalization of $180.88B and an average price change of +1.64%. They are listed in size by market capitalization.
The Optimism Ecosystem includes a collection of technologies, platforms, and protocols built on the Optimism blockchain. Optimism is a Layer 2 scaling solution for Ethereum that was launched in 2022. Optimism is built around a technology called "Optimistic Rollups." The primary aim of Optimistic Rollups is to increase the throughput of transactions on the Ethereum network, thereby reducing fees and congestion. This is achieved by handling most transactions off the main Ethereum chain (off-chain) and only submitting a summary to the main chain (on-chain).
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FAQ
How do Optimistic Rollups work?
Optimistic Rollups handle most transactions off the main Ethereum chain (off-chain) and submit summaries to the main chain (on-chain). Transactions are assumed to be valid by default, and only in the event of a dispute are they thoroughly verified.
What are the benefits of using Optimism over the Ethereum mainnet directly?
Optimism significantly increases the transaction throughput and reduces associated fees. This leads to faster transaction confirmations and a smoother user experience, especially during times of high congestion on the Ethereum mainnet.
Is Optimism compatible with existing Ethereum DApps?
Yes, one of Optimism's main features is its high compatibility with existing Ethereum DApps. Developers can deploy their applications on Optimism with little to no modifications, using familiar Ethereum toolsets.
How fast are Optimism transactions?
Optimism boasts a peak load transaction processing speed of up to 2,000 TPS, a significant leap from Ethereum's current 13 TPS.
What are the transaction fees like on Optimism compared to Ethereum mainnet?
Transaction fees on Optimism are typically lower than those on the Ethereum mainnet, due to the increased scalability offered by Optimistic Rollups. However, exact fee amounts can vary based on demand and usage.
How does Optimism handle data availability?
Optimism uses the Ethereum mainnet for data availability. This means that while computations might be done off-chain, the essential data is still stored on the main Ethereum chain, ensuring that it remains accessible and secure.
Can assets be bridged from Ethereum to Optimism and vice versa?
Yes, assets can be moved between Ethereum and Optimism using bridge contracts. These bridges facilitate the transfer of tokens from the Ethereum mainnet to the Optimistic Rollup chain and back.
How long does it take to withdraw funds from Optimism back to the Ethereum mainnet?
Due to the security mechanisms of Optimistic Rollups, there is a challenging period before funds can be withdrawn from Optimism to the Ethereum mainnet. This period can take a week or more, ensuring that any potentially malicious actions can be identified and challenged.
Why do withdrawals from Optimism to the Ethereum mainnet take so long?
The delay in withdrawals is due to the "challenge period" in the Optimistic Rollup system. This period allows for potential fraud proofs to be submitted, ensuring the correctness of off-chain computations. The waiting time serves as a security measure, ensuring that any potentially malicious or erroneous actions can be identified and rectified.
How does Optimism handle smart contract failures or bugs?
Optimism relies on the Ethereum Virtual Machine (EVM), which means that smart contract behaviors on Optimism should mirror those on the Ethereum mainnet. If a contract has a bug on Ethereum, it would likely have the same bug on Optimism. Developers are encouraged to thoroughly test their contracts and perhaps even use formal verification methods to ensure correctness.