In the world of cryptocurrency, innovation is the driving force that tackles challenges head-on. Ethereum, the pioneering blockchain platform, faces its fair share of hurdles, with scalability being a significant concern. Fortunately, there's Optimism (OP) - a Layer 2 solution that uses optimistic rollups to offer more affordable transactions and a smoother user experience.
How Toncoin (TON) Works?
Optimism operates as a separate blockchain layer atop Ethereum. It leverages a technique called optimistic rollups, which consolidate multiple transactions into a single transaction executed on the Ethereum Layer 1. This approach allows Optimism to maintain Ethereum's security features while improving transaction efficiency.
What Makes Toncoin (TON) Unique?
Optimism stands out as an EVM-equivalent Layer 2 solution. This means it is fully compatible with existing applications on the Ethereum mainnet, making deployment seamless. Optimism's primary mission is to provide users with cost-effective transactions and an enhanced dApp experience. As of now, it's the fifth-largest chain by Total Value Locked (TVL), with approximately $868 million locked in assets.
Moreover, Optimism has gone beyond its core offering. It introduced the OP stack, an architectural framework that enables the creation of app-specific blockchains, leading to projects like Coinbase's Base and A16Z's Magi.
Tokenomics & Token Utility
Optimism currently boasts a market cap of over $1.2 billion, with a total supply of 4,294,967,296 tokens. The circulating supply is over 716 million tokens, with a modest inflation rate of 2%. Token allocation includes 20% for retroactive public goods funding, 17% for investors, 19% for core contributors, and 25% for the ecosystem fund. Additionally, 19% is set aside for airdrops, with 5% allocated for the first one. The remaining 14% will be retained for future airdrops. In the first year, 30% of the total tokens were unlocked for distribution, with the rest vesting over several years.
Conclusion
Optimism (OP) addresses Ethereum's scalability issues by introducing an efficient Layer 2 solution. Its use of optimistic rollups ensures faster transactions while maintaining Ethereum's robust security. As Ethereum's scalability solutions continue to evolve, Optimism stands as a formidable player in the field.