As 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 working on the same thing since 2017,” Jing Wang, Optimism’s CEO and co-founder, stated on Ztoog’s Chain Reaction podcast. “We’ve all been trying to solve the same problem for a long time.”
The mission to scale Ethereum is ongoing, stated Ryan Wyatt, chief development officer at Optimism. Before becoming a member of Optimism, Wyatt was the president of Polygon Labs, the entity constructing the layer-2 blockchain Polygon.
As it stands, utilizing and transacting with Ethereum remains to be comparatively clunky, sluggish and dearer. 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 in addition offers builders the power to construct decentralized functions (dApps) in a quicker, scalable approach.
“Just as Amazon is a serverless back end for web2 applications, Optimism is a decentralized serverless back end for web3 applications,” Wang stated. “We wanted to scale Ethereum because I think Ethereum stays the most close to the original decentralization values and we wanted to give it a go staying close to those same values.”