Because the layer-1 blockchain Ethereum continues to develop and evolve, layer-2 blockchains like Optimism are working to alleviate problems with scaling, velocity and prices.
“We’ve been engaged on the identical factor since 2017,” Jing Wang, Optimism’s CEO and co-founder, mentioned on TechCrunch’s Chain Reaction podcast. “We’ve all been making an attempt to resolve the identical downside for a very long time.”
The mission to scale Ethereum is ongoing, mentioned Ryan Wyatt, chief development 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, gradual and dearer. That’s why layer-2 (L2) blockchains like Optimism exist: to concentrate on scaling and velocity, whereas additionally decreasing prices for customers. It helps customers work together with Ethereum’s chain for about 10x cheaper by way of its personal community and in addition supplies builders the flexibility to construct decentralized functions (dApps) in a quicker, scalable approach.
“Simply as Amazon is a serverless again finish for web2 functions, Optimism is a decentralized serverless again finish for web3 functions,” Wang mentioned. “We needed to scale Ethereum as a result of I believe Ethereum stays probably the most near the unique decentralization values and we needed to provide it a go staying near those self same values.”