![]() RetroPGF: Revenue from the sequencer will be redistributed to the community through Retroactive Public Good Funding. With the same role as miners, the sequencer will receive a portion of the revenue as transaction fees Sequencer generates revenues: Sequencer here is a node that handles transactions on L2 and posts them to L1. Participating in OP block space provides a sustainable source of revenue. More details of Citizen’s House will be revealed in the future.įrom the ideas above, the OP’s economy would have the following flywheel:ĭemand for OP Block space: Funding for the OP economy will come from the Optimism network and its block space value. Citizenship shall be conferred by non-transferable NFTs. Citizen’s House: The main purpose is to facilitate and manage the process of distributing retroactive public good funding.Token House: Established when Airdrop #1 was launched, empowering early adopters to participate in voting on protocol updates, and select projects to receive incentives,… The token here is OP.Similar to the structure of a National Congress, the Optimism Collective will be governed by two houses: the Citizen’s House and the Token House. In the near future, the governance of Optimism will be determined by an association between the Optimism Foundation and members of the Optimism Collective. Optimism Collective is a large-scale DAO (Decentralized Autonomous Organization) of digital democratic governance, built to drive the rapid and sustainable growth of a decentralized ecosystem. In the latest version, Optimism has introduced the Optimism Collective. Prior to that, the $25M Series A round was also led by a16z. This funding round was led by two famous names, a16z and Paradigm. In addition, last March, Optimism also announced the success of a $150M Series B funding round at a valuation of $1.65B. Recently, Optimism launched the OP token and announced an airdrop for those who have been involved as early adopters and active users of projects in the Optimism ecosystem. Security: Layer 2 still inherits the strict security level of Layer 1 Ethereum.Scalability: Thanks to the OVM, DApps on Ethereum can migrate to Optimism with only a few modifications.Transaction Experience: With low latency, gas fees are being reduced by 90 times compared to gas fees on Ethereum currently.Optimism’s Blockchain has some notable points including: Outstanding Features What is the unique selling point? Since Optimism was designed to closely mirror Ethereum, developers can deploy existing contracts on the blockchain in a streamlined manner.Īccording to Dune Analytics, Optimism’s L2 chain holds $692.2m in on-chain value, handles approximately 111,000 transactions per day, and is up to 63 times cheaper in gas fees than Ethereum L1.Īs a blockchain built on top of Ethereum Layer 1 (L1), Optimism uses Ethereum’s proof-of-work (PoW) consensus method to validate transactions (until Ethereum transitions to a proof-of-stake method, scheduled in the second half of 2022). It was first revealed in June 2019, and Optimism’s open main net was launched in December 2021. What is Optimism Layer 2? Optimism is an Ethereum Layer-2 (L2) solution centered on low cost and ease of use. What is Optimism Layer 2? What is Optimism Layer 2? It is designed to address the challenges associated with high transaction costs and slow transaction speeds on Layer 1 blockchains. What is Optimism Layer 2? – This is a technology solution that aims to enhance the scalability and efficiency of blockchain networks.
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