Guide to one of Ethereum's layer Two scaling solutions

Guide to one of Ethereum's layer Two scaling solutions

The cryptocurrency industry has generally become much more popular in recent years. This led to the development and introduction of hundreds, if not thousands of decentralized applications (DAPPS) in various areas such as defi, play, learn, act, invest and so on.

There are many reasons for this, including, but not limited to the massive bull run in 2021, the rise of non -fungi tokens, the popularity of memoins and more. As a result, hundreds of thousands of users flocked to what the next trend could be.

blockchains like Ethereum-where the lion's share of the DAPP activities takes place-had problems with affecting affordability, scalability and even accessibility. Layer-one alternatives such as Solana also proved to be insufficiently effective when coping with the massive load of user inquiries.

This brought up a topic that has been discussed in detail in the cryptocurrency community for years-scalability. Now that scaling solutions have become essential for the future growth of the industry, projects such as Optimism saw the light of the world.

As one of the most popular Ethereum scaling solutions, Optimism aims to solve some of the underlying problems with the network, whereby a special focus is on the scaling.

fast facts about optimism

• The Mainset from Optimism went live
in December 2021
• Optimism introduced its native token (op) on May 31, 2022.
• A total of 231,000 addresses were entitled to claim 214 million surgical tokens.

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What is optimism?

Optimism is an Ethereum scaling solution. Essentially, its purpose is to help the main network work smoothly by taking over part of its transaction load. Technically speaking, optimism is an “optimistic rollup”, and it is important to understand what rollups do before they immerse themselves in deeper.

What is a rollup?

rollups are one of the multiple scaling solutions that are intended to help Ethereum achieve a higher transaction throughput.

The Ethereum Foundation explains that "carry out the transaction execution outside of Layer 1 and the data are then posted on Layer 1, where a consensus is achieved".

The main advantage of this is that it reduces the load on the main network and at the same time guarantees the information sent through its native security.

There are two main types of rollups that differ mainly in their security models:

• zero-knowledge- (zk) rollups -these carry out the calculation off-chain and then transmit the proof of validity to the chain.
• Optimistic rollups - these assume that transactions are valid by default and only carry out calculations fraud -proof if there is a challenge.

Optimism falls into the second category, and as you may have guessed, his parent chain is Ethereum.

How does optimism work?

The big idea that makes optimism interesting for most is the optimistic rollup. The basic principles of the concept are briefly explained below.

The TLDR, however, is that an Optimistic Rollup is another way to call up a blockchain that is designed to use the safety of another network that acts as a higher -level network.

block memory

All blocks on optimism are saved in a certain intelligent contract that is based on Ethereum and is called Cannonicalransactionchain - CTC to make it easier. You will be helped in a list that is located within the CTC and can only be attached.

The CTC contains code, which guarantees that the current list of blocks cannot be changed by recent transactions to Ethereum. This guarantee can be broken if the Ethereum network itself goes through a reorganization (reorg) and the order is changed.

production block

The "sequencer" is the only party that manages block production on Optimism. It helps with the network by providing the following:

• immediate transaction confirmations and status updates;
• structure and execution of layer two blocks;
• sending user transactions to level one.

It has no Mempool, which means that the transactions are immediately accepted (or rejected). This is done in the order of your entrance. When someone sends a transaction, the sequencer checks whether it is valid (pays a sufficient fee) and applies it to the local state as the outstanding lock. These outstanding blocks are then bundled and regularly transmitted to the Ethereum network.

The main goal of this bundling is to reduce the entire transaction fees by distributing certain fixed costs over all transactions within a single batch. This fee can of course vary depending on the network at the time the transactions are transmitted to the sequencer.

block

It is important to understand that Ethereum nodes download blocks from the peer-to-peer network from Ethereum. Optimism nodes, on the other hand, download blocks directly from the CTC append-only contract.

There are two main components from which optimism nodes consist of. These are the Ethereum Data Indexer and the Optimism Client Software.

It was developed to reconstruct the optimism blockchain from blocks that are published in the CTC contract. It also means the data transport layer.

This is similar to that, which means that optimism comes very close in its design Ethereum. This is also due to the fact that Optimism divides the same Ethereum Virtual Machine (EVM) as well as the same account and status structure and the measurement mechanism for gas and the fee schedule.

error evidence

The use of an optimistic rollup means that the state obligations are directly published in the Ethereum network without proof of the validity of these obligations. Errors are requested if a state obligation is contested. If it is successfully challenged, it will be removed and finally replaced by another.

Das document offers a more detailed and technical explanation of the terms described above and the entire process.

How to bridge assets between levels

In the case of layer 2 scaling solutions such as Optimism, it is obviously of the greatest importance to be able to exchange assets between different layers.

There are several options for how to proceed. First and foremost, you can go to the official website and use the bridge provided there. You would only have to have a web3 wallet like Metamask.

From there you have to select the network from which you want to bridge token. This is the supported list:

There are also options for bridging centralized stock exchanges, but it is important to note that they are simply linked via providers with which Optimism is simply linked - which means that there is no approval, and you should take care and after thorough diligence.

From there, the process is particularly easy because you only have to confirm the amount and sign the transaction in your wallet.

assets to bridge from Optimism, there are a few options. Instead, you can use a third-party bridge or the official bridge. The following is an example of the latter, but remember that the bridging of optimism to Ethereum lasts seven days.

Everything you have to do is to click on the arrow between the value fields, and this changes the above transaction. If you have not added Optimism to Metamask, this will also be done for you. From there you only have to confirm the amount and sign the transaction:

Governance: The model of optimism

The native cryptocurrency of the optimism ecosystem is op token.

Optimism is ruled by the so-called optimism collective. According to the official website, the collective is:

"... a group of companies, municipalities and citizens who work together to reward public goods and build a sustainable future for Ethereum."

The management of the Optimism Collective itself will consist of two separate houses: the token house and the Citizens' house. Let us break it up.