How Optimism Works
Due to the transactions limits on the Ethereum main network (i.e. Layer 1) and the high transaction fees, the developers proposed Layer 2 to scale both Ethereum and Ethereum’s value and increase the transaction processing speed.
Optimism is a Layer 2 scaling solution launched by the Optimism team.
It adopts an Optimistic Rollup scheme of single-round interactive design to scale the Ethereum network.
For a deeper understanding on Layer 2, make sure to read our Introduction on Layer 2.
Working Principle
Optimism is built as an Optimistic Rollup. This kind of rollup ensures that data synchronized from Layer 2 to Layer1 is valid through fraud proof.
- Rollup: A Layer 2 scaling solution, which scales by keeping most information on Layer2 and off the Layer1 chain. Instead, a rollup submits only the bare minimum on the Ethereum mainnet, saving limited space and therefore scaling the performance of Ethereum.
- Optimistic Rollup: The rollup protocol submits a state commitment to Ethereum mainnet without any validation of correctness of the transactions. Within a specific period (also known as ‘challenge window’) users can challenge a submitted state commitment as incorrect. This process is also called ‘fraud proof’ and ensures that data submitted to the Ethereum mainnet is valid.
Fraud Proof: Any validator who submits compressed Layer 2 data to Layer 1 needs to stake a security deposit. If the validators transaction is disputed within the challenge period, its deposit will be forfeited. The challenging party will be rewarded after the rollup protocol proves the error by recalculating all transactions in the block.
Features
- Low transaction fees
- No trust required
- Security derived from Ethereum mainnet
- User assets are self-custodial
- EVM compatible
Learn more
How to use Optimism
Let's take a look at how to use Optimism with imToken. First download imToken (https://token.im) to create/import a wallet and add an Optimism account.
NOTE: Please check how to download imToken safely before downloading.
If you did not add an Optimism account when creating/importing your wallet, please navigate to "My Profile" -> "Manage wallets" -> "Add", select the "Optimism" network, and confirm. Then, return to the wallet homepage to access your newly created Optimism account. Now you can transfer/receive tokens and try out popular DApps on the Optimism network.
Detailed tutorial: How to Use Optimism in imToken?
Study
Development Team of Optimism
Optimism Foundation is a nonprofit company that aims to generate public interest and operate in a responsible and sustainable manner. It is hoped that through the development of open source software, users will be able to obtain fair access to public goods on the Internet.
Optimism Explorer
Optimism explorer is a website for querying tokens, transactions, account addresses and other information.
Optimism Ecosystem
- Uniswap
- Hop Exchange
- 1inch
- Synthetix
- Kwenta
- Perpetual Protocol
- Chainlink
- …
More Information
Optimism official website: https://optimism.io/