Ethereum

Base

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/brazil-makes-significant-blockchain-move/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Brazil Makes Significant Blockchain Move</a><br></p>
<p class="p1" style="text-align: justify"><a href="https://coin-turk.com/brezilyadan-onemli-blockchain-hamlesi" data-wpel-link="internal" rel="noopener noreferrer nofollow">Blockchain</a> ecosystem continues to witness notable developments. Accordingly, <strong>Optimism’s</strong> core developer OP Labs has published bug proofs on the OP Sepolia test network prior to their application on the OP Mainnet. The team announced that open-source, full-featured bug proofs are live on OP Sepolia, and anyone can join the system without a whitelist through permissionless verification.</p>
<h2 class="p1" style="text-align: justify" id="striking-statement-from-op-labs-team">Striking Statement from OP Labs Team</h2>
<p class="p1" style="text-align: justify">Bug proofs serve as a security mechanism for <a href="https://coin-turk.com/ethereumda-eth-yatirimcilarin-gozu-bu-seviyede-ethda-beklentiler" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> <strong>Layer-2</strong> networks, enabling users to contest fraudulent or incorrect transactions. They are critical in keeping off-chain transactions free from manipulation.</p>
<p class="p1" style="text-align: justify">OP Mainnet currently lacks bug proofs, which continues to raise concerns about the network’s security and decentralization. This means that users on the network have to trust block producers to send the correct Layer-1 state roots. The network also relies on a security council comprised of members for backups, which could become a central point of failure.</p>
<p class="p1" style="text-align: justify">The project is now moving towards implementing these systems in the <strong>Sepolia</strong> test network, which it already uses. OP Mainnet employs a scaling solution called optimistic rollups for its operation. This technology batches <a href="https://en.coin-turk.com/ethereum-is-ready-to-take-the-center-stage-according-to-analysts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> transactions in a secondary off-chain layer, allowing for cheaper transaction processing to address scalability concerns within the Ethereum ecosystem.</p>
<h2 id="img-loading-lazy-decoding-async-loading-lazy-class-aligncenter-wp-image-330614-size-full-src-https-coin-turk-com-wp-content-uploads-2024-03-op-labs-jpg-alt-width-2076-height-1146"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-330614 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/op-labs.jpg" alt="" width="2076" height="1146"></h2>
<h2 class="p1" style="text-align: justify" id="op-labs-and-blockchain-solutions">OP Labs and Blockchain Solutions</h2>
<p class="p1" style="text-align: justify"><strong>OP Mainnet</strong>‘s developer OP Labs also operates a development software process known as OP Stack, which enables developers to launch their own Layer-2 blockchain networks. <a href="https://en.coin-turk.com/new-crypto-rules-announced-in-taiwan-offshore-crypto-exchanges-must-register-with-fsc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> exchange giant <a href="https://en.coin-turk.com/cameron-winklevoss-proposes-final-offer-to-resolve-1-5b-debt-of-collapsed-genesis/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase</a> developed its Layer-2 network called Base using OP Stack.</p>
<p class="p1" style="text-align: justify"><strong>Optimistic rollups</strong> are favored in most ecosystems that have not yet decentralized their networks by including bug proofs and maintaining decentralized contract upgrades. However, OP Mainnet’s closest competitor, Arbitrum, continues to stay ahead by offering bug proofs in this process. The competition in Layer-2 networks is particularly focused on a process aimed at creating communities through airdrop events.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/brazil-makes-significant-blockchain-move/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Brazil Makes Significant Blockchain Move</a></h5>

Brazil Makes Significant Blockchain Move

Table of Contents

COINTURK NEWS

Other articles published on Mar 20, 2024

Is the Crypto Market Rebound Inevitable Ahead of Today’s FOMC Statement?

VaultTech Announces Upcoming Mobile App Launch

Grayscale looks to transform Ethereum Trust into spot ETF

Ripple (XRP) & Dogecoin (DOGE) Holders Rally Behind DeeStream (DST), Excited for Its Fresh Approa...

Crypto Market Faces Sharp Decline Ahead of Fed Interest Rate Decision

Countdown Begins for Critical FED Meeting: What Will Bitcoin Do?

Join our free newsletter for daily crypto updates!