Optimism is a layer 2 scaling solution for Ethereum that was launched in 2022. It is the second largest rollup chain at the time of writing, following Arbitrum, with $857.1 million in total value locked. The chain introduces a new rollup mechanism called optimistic rollup, which has been so useful that other rollup chains such as Arbitrum and MetisDAO have adopted this mechanism.
At the core of the Optimism blockchain is the optimistic rollup mechanism. It has that name because all transactions when bundled and submitted to layer 1 are considered valid until proven otherwise. Validators of layer 1 can challenge potentially invalid transactions, and if the transactions are proven invalid, gas fee for running the fraud proof is reimbursed and the layer-2 nodes executing that transaction are punished.
The fuel that drives the growth of Optimism is the OP token. It powers both the governance and use cases of the blockchain.
OP’s total supply: 4,294,967,296
OP’s circulating supply: 234,748,364
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