Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.
Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token.
## Who Are the Founders of Optimism?
Optimism is led by the Optimism Foundation, a nonprofit organization dedicated to growing the Optimism ecosystem. Similar to Ethereum, Optimism aims to become a fully decentralized public good that is not profit-oriented. Optimism is completely funded by donations and grants, and pledges to produce infrastructure that promotes the growth and sustainability of public goods.
## What Makes Optimism Unique?
Optimism is designed around four core tenets:
* Simplicity
* Pragmatism
* Sustainability
* Optimism
Optimism aims for the minimum number of moving parts while building a layer-two solution for Ethereum. In practice, this means using proven Ethereum code and infrastructure when possible. Optimism thus aims to keep its code as simple as possible and work directly with existing codebases.
The ecosystem further emphasizes pragmatism and is driven by the real-world needs and constraints of its own team and the users engaging with the ecosystem. Hence, Optimism aims to build iteratively and implement features like EVM equivalence gradually.
Optimism's design process is built around the idea of long-term sustainability and not taking shortcuts to scalability. That is why it uses optimistic rollups and takes advantage of the consensus mechanism of Ethereum to scale the network. Blocks are constructed and executed on the L2 (Optimism), while user transactions are batched up and submitted to the L1 (Ethereum). The L2 has no mempool, and transactions are immediately accepted or rejected. This guarantees a smooth user experience while ensuring security through the Ethereum consensus mechanism.
Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a certain period of time (currently seven days). After that, a transaction is considered final. That is why withdrawals from Optimism to Ethereum take seven days to complete.
How to buy OP on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing OP. Some reputable platforms includeBybit、OKX、Binance, and others.
Step 2: Register an Account
Here, we'll register an account on the Gate.io (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing OP.
Step 5: Purchase OP
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of OP you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy OP.
Step 6: Store Your OP
After purchasing, you can choose to store your OP in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and OP assets, be sure to use a strong password and enable two-factor authentication.
OP Price: OP Mainnet is an EVM equivalent(opens in a new tab) Layer 2 blockchain connected to Ethereum. The OP Stack is the standardized, shared, and open-source development stack that makes it easy to spin up your own production-ready Layer 2 blockchain just like OP Mainnet. The Superchain is a network of OP Stack chains that share a bridging protocol, governance system, and more. We've got you covered with these detailed guides to help you learn all about Optimism's tech stack. The price fluctuates daily, You can go to the exchange: Gate.io to check the price.
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