Optimism, the Layer 2 scaling solution for Ethereum applications, has undergone a name change and is now known as OP Mainnet.
This rebranding is seen as a strategic decision that aligns with the project’s goal of establishing a ‘superchain’ network consisting of multiple Layer 2 blockchains. The new name, OP Mainnet, reflects the project’s ambition to create a highly scalable and interconnected network that enhances the capabilities of Ethereum’s infrastructure.
It’s official: the chain formerly known as Optimism is now OP Mainnet!
This distinction makes clear the delineation between the OP Mainnet blockchain and the Collective, vibe, and ethos that “Optimism” encompasses.
— Optimism (✨🔴_🔴✨) (@optimismFND) June 23, 2023
Under the new name, OP Mainnet, it will remin the foundational layer of the superchain network with its current total value locked (TVL) of over $1.3 billion. The TVL metric reflects the amount of cryptocurrency assets locked and utilized within the network.
According to Optimism, the super chain aims to enable seamless communication and interoperability with other chains. As part of this initiative, Optimism has mentioned Coinbase’s open-source Ethereum L2, Base, as one of the chains involved.
OP Labs, the developer of OP Mainnet, has created a development software stack known as the OP Stack which enables developers to launch their own Layer 2 blockchains, providing them with the necessary tools and infrastructure to build scalable solutions.
OP Mainnet relies on Optimistic Rollups as a fundamental technology for its operation. Optimistic Rollups is a Layer 2 scaling solution that aggregates Ethereum transactions on a secondary layer, providing faster and more cost-effective transaction processing.
By leveraging Optimistic Rollups, OP Mainnet addresses the scalability challenges faced by the Ethereum network allowing for a significant increase in transaction throughput and reduced gas fees.
Some of the projects already part of Optimism’s ecosystem include:
- Aaave
- Alchemy
- Binance
- Brave Wallet
- Coinbase
- Coinbase Wallet
- Metamask
- MoonPay
- Sushiswap
- Uniswap
Since its launch, Optimism has consistently been one of the leading Layer 2 solutions for Ethereum. However, another Layer 2 solution, Arbitrum, has been gaining momentum and surpassing Optimism in terms of adoption and popularity.
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