First of all, let us know what Optimism is all about.

Optimism is a layer-two blockchain for Ethereum using optimistic rollups as scaling technology. It is one of Ethereum’s biggest scaling solutions with over $250 million in TVL. Optimistic rollups outsource the execution of transactions to a L2 solution like Optimism.

The transactions on Optimism are rolled up into batches that get relayed to the Ethereum mainnet, which only records the new chain state. Since their validity is assumed, the rollups are called optimistic. A rollup's validity can be challenged for up to seven days, which is why withdrawals from Optimism to Ethereum take seven days.

What Makes Optimism Stand Out From Other Layer-2s Chain.

1. Optimism uses single-round fraud proofs and disputes are settled on-chain. This is the reason why Optimism gas fees are quite high other than Arbitrum.

2. Optimism executes transaction proof in one round on the layer-one chain.

3. Optimism is “only” EVM-compatible.

4. Optimism’s ecosystem is significantly smaller ($1.5 billion vs $300 million in total value locked).

Lets Talk About Projects on Optimism Chain.

Optimism currently has more than 50 decentralized applications running on its chain. As part of the roadmap, Optimism plans to:

1. Introduce next-gen fault proofs that improve on-chain security.

2. Sequencer decentralization, so anyone in the network can participate as a block producer.

3. More decentralization and sharded rollups in 2023, just as we have BASE CHAIN and opBNB

Optimism is the leading pioneer of Layer-2 Chains on the Ethereum Blockchain, it has potentials yet to be mined and utilized, hence the Rollups on the chain.

Watch out for our next article on Various Dapps on Optimism Chain and how to interact.

Be Optimistic.