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Learn more about Optimism
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Optimism (OP) price has increased today.
Optimism (OP) is priced at $2.53 today, with a 24-hour trading volume of $499,780,328.29. It is reflecting a 7.27% increase over the last 24 hours and a 3.07% decline over the past 7 days. With a circulating supply of 1.05 Billion OP, Optimism’s current market cap is at $2,641,191,107.67.
Understanding the Concept of Optimism (OP)
Optimism (OP), functioning as a layer-two blockchain on Ethereum, strategically employs optimistic rollups to notably enhance Ethereum’s scale and security.
By doing this, OP meticulously secures transactions on its own platform initially and subsequently, finalizes them on the Ethereum mainnet.
Moreover, Optimism has successfully locked in over $500 million in Total Value Locked (TVL) and, in addition, supports various protocols, such as:
To begin with, users initiate their journey by connecting their Metamask wallet and, following this, transferring tokens, such as ETH, to the layer-two network.
Additionally, on May 31, 2022, Optimism launched an airdrop of its OP token, providing another layer of engagement and utility within its ecosystem.
Meet the Founders of Optimism
The Optimism Foundation, a nonprofit entity, steers Optimism’s development and governance to transform it into a decentralized public asset dedicated to a non-profit mission.
Being solely funded through donations and grants, the foundation steadfastly focuses on constructing infrastructure, and, as a result, it actively promotes and sustains public goods.
Uniqueness of Optimism’s Approach
Optimism emphasizes four main principles:
- Simplicity: It prioritizes using existing, proven Ethereum code and infrastructure to maintain a straightforward codebase.
- Pragmatism: The platform develops features like EVM equivalence gradually, staying aligned with practical needs and restrictions.
- Sustainability: Focusing on long-term sustainability, Optimism allows transaction blocks to be built and processed on its network and then batched and submitted to Ethereum, maintaining user experience and security.
- Optimism: The platform espouses a positive outlook, embedding this positivity in its approach and objectives.
The Distribution of Optimism (OP) Tokens
Optimism aims to generate value for token holders, contributors/builders, and users/community members by:
- Redirecting sequencer revenue.
- Offering retroactive public goods funding.
- Providing airdrops and project incentives.
Ensuring Network Security
Optimism employs optimistic rollups to safeguard its network. Initially, these rollups record transactions on the layer-two blockchain and periodically submit them to the layer-one blockchain via Merkle roots.
Following this, external validators scrutinize these merkle roots, causing a typical one-week delay for fund withdrawals from layer twos.
Where to Purchase Optimism (OP)
You can buy OP tokens on several cryptocurrency exchanges, including:
Most Used
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Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
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For traders interested in exchanges with high liquidity, Huobi is a great choice. The exchange gives traders a low fee of 0.2% and gives addition discounts by holding the Huobi Token (HT). Huobi supports more than 700 crypto assets and have deposit and withdrawal of fiat currency. The downsides are regulatory compliance issues and bad customer support.
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High liquidity.
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Supports fiat currency.
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Low fees.
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High number of supported cryptocurrencies.
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Regulatory challenges.
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Wash trading accusation.
Coinweb’s Crypto Wiki can provide educational resources for those new to cryptocurrencies and interested in purchasing Optimism.
Optimism is a layer-two blockchain on Ethereum. It uses optimistic rollups to make Ethereum scale better and be more secure.
You can begin by linking your Metamask wallet and moving tokens like ETH to the layer-two network.
The Optimism Foundation, a non-profit, guides the development and rules of Optimism. It wants to turn it into a public asset that is decentralized and committed to a non-profit mission.
Optimism uses optimistic rollups. First, transactions are recorded on its own blockchain. Then, they are sent over to the Ethereum blockchain after a short time. This means withdrawing funds usually takes about one week.
You can buy OP tokens on different cryptocurrency exchanges like Binance, Huobi, and Coinbase.
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