Ethereum

Major

World

Optimism

Foundation

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/optimism-strengthens-ethereums-network-with-layer-2-solutions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Optimism Strengthens Ethereum’s Network with Layer-2 Solutions</a><br></p>
<p style="text-align: justify">The Ethereum network has faced scalability issues due to an increasing user base, leading to slower transactions and higher costs. To partially address these issues, the Ethereum community has developed layer-2 solutions, known as rollups, since 2019. Optimism has emerged as one of the first and prominent solutions in the market.</p>
<h2 id="growth-of-optimism">Growth of Optimism</h2>
<p style="text-align: justify">Optimism’s technology has been adopted by major organizations like Kraken, Uniswap, World Network, and Sony’s Blockchain Lab to create their own layer-2 networks by 2024. The OP team successfully convinced some of the largest entities in the <a href="https://en.coin-turk.com/adam-back-analyzes-current-bitcoin-market-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> world to join its ecosystem, which led to the nomination of founding team leader Jing Wang for CoinDesk’s 2024 Most Influential List.</p>
<h2 id="founding-team-s-story">Founding Team’s Story</h2>
<p style="text-align: justify">The founding team of Optimism consists of experienced members of the Ethereum community, including Jing Wang, Ben Jones, Karl Floersch, Mark Tyneway, Kelvin Fichter, and Kevin Ho. Jing Wang began his journey in the crypto world with Bitcoin but transitioned to Ethereum at the encouragement of Vitalik Buterin.</p>
<h2 id="technological-developments-and-op-stack">Technological Developments and OP Stack</h2>
<p style="text-align: justify">Established in 2019, the Optimism network became operational by the end of 2021. In 2022, the company split into OP Labs BPC and Optimism Foundation. The framework known as OP Stack allows developers to easily create their own layer-2 networks, aiming to establish an integrated <a href="https://en.coin-turk.com/aleo-blockchain-platform-exposes-user-data/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a> network called Superchain.</p>
<p style="text-align: justify">The success of OP Stack is attributed to its user-friendly structure, enabling developers to easily build their chains. Major companies like Kraken have utilized OP Stack to create their layer-2 networks, further solidifying Optimism’s position within the ecosystem.</p>
<p style="text-align: justify">The Optimism Foundation aims to expand its ecosystem by providing developers with OP tokens. These tokens are awarded in exchange for projects’ contributions to the ecosystem and support the development of Superchain.</p>
<p style="text-align: justify">In conclusion, the Optimism team plays a crucial role in addressing Ethereum’s scalability challenges through its ease of use and supportive strategies. The OP Stack and <a href="https://en.coin-turk.com/bitcoin-surges-and-memecoins-rally-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> support provided to developers contribute to the expansion of the ecosystem, aiming for a more integrated and efficient blockchain network with the vision of Superchain.</p>
<p>The post <a href="https://en.coin-turk.com/optimism-strengthens-ethereums-network-with-layer-2-solutions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Optimism Strengthens Ethereum’s Network with Layer-2 Solutions</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Optimism Strengthens Ethereum’s Network with Layer-2 Solutions

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