Optimism is a layer-two blockchain that operates on top of Ethereum. It leverages the security of the Ethereum mainnet and helps scale the Ethereum ecosystem through the use of optimistic rollups. This means that transactions are recorded trustlessly on Optimism, but ultimately secured on Ethereum. With over $500 million in total value locked, Optimism is one of the leading scaling solutions for Ethereum, hosting 97 protocols, including Synthetix (SNX), Uniswap (UNI) and Velodrome (VELO). Users can access Optimism by adding the chain to their Metamask wallet and bridging tokens like ETH to layer-two.
Optimism is built around four core principles: simplicity, pragmatism, sustainability and optimism. It aims to minimize the number of components while providing a layer-two solution for Ethereum. This approach involves using existing Ethereum code and infrastructure whenever possible and keeping the code as simple as possible.
The ecosystem is driven by the real-world needs and constraints of the team and users, with a focus on building iteratively and gradually implementing features such as EVM equivalence. The design process prioritizes long-term sustainability and avoids shortcuts to scalability. Optimism uses optimistic rollups and takes advantage of the Ethereum consensus mechanism to scale the network. Transactions are executed on layer-two, while batches of transactions are submitted to layer-one. The layer-two does not have a mempool, and transactions are immediately accepted or rejected, providing a smooth user experience while maintaining security.
Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a period of seven days. After that, a transaction is considered final, which is why withdrawals from Optimism to Ethereum take seven days to complete.
How To Buy Optimism or Add it to your Strategy
The fastest, most convenient way to purchase Optimism is to purchase it on ICONOMI. We check Optimism live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Optimism by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Optimism is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Optimism, we recommend you read the next section, as copying might be a better approach.
Add Optimism to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Optimism in their structure.
What are the structure parameters based on which coins are added or removed?