New tool mirrors Optimism NFTs to Ethereum mainnet for use in verified apps
NFTs from Layer 2 were not previously recognizable to apps like Twitter. Optimism developers jvmi and Kelvin Fichter released a new app called Magic Mirror on Nov. 9 that allows NFT holders to copy or “mirror” their Optimism NFTs to the Ethereum mainnet. NFT holders can now use their Optimism NFTs in a variety of verified apps, such as in Twitter’s profile badge system — where previously, only NFTs native to Ethereum Layer 1 could be used.Introducing Magic Mirror: a way to mirror your @optimismFND NFTs on Mainnet so you can have verified NFTs on apps like Twitter ✨....
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Optimism has garnered interest from the most influential figures in the crypto Industry like Vitalik Buterin. Ethereum is plagued with criticisms of its less than optimal scaling capabilities and high gas prices. There have been talks about increasing the scaling capacity of the Ethereum mainnet for a while now. However, the Ethereum ecosystem needs a solution for scaling right now, and if Ethereum is not able to give these new applications a platform with enough scaling capabilities, they can seek alternatives like the BNB Chain or Cardano. Optimism rollout was created to solve exactly....
Many layer 2 solutions are competing on being the most active in developments. Amid these scaling solutions in Optimism, and given its latest announcement, it will soon enable developers to launch DApps with just a single click of a button. Optimism provides support for all the apps on the Ethereum ecosystem. It ensures that transaction fees are lower by keeping its data on the blockchain but running computation off-chain. The team’s latest blog reveals that an upcoming upgrade will facilitate the launch of DApps on its layer. This means that every tool running on Ethereum will also....
Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which will see the blockchain switch from a proof-of-work network to one based on proof-of-stake, investors have been bidding up digital assets tied to the Ethereum ecosystem. The merge will be tested by Ethereum developers on the Goerli testnet on....
The world’s biggest online video platform seems to be joining the verified NFTs movement. In its 2022 roadmap, YouTube hinted at several ways it could be implementing blockchain technology. The giant could be following its owner company Google’s steps to diversify the revenue that comes from advertisement. Related Reading | OnlyFans Jumps Into The NFT Profile […]
1inch indicated that its launch on the Optimistic Ethereum network will lead to faster confirmation times and lower fees. Decentralized exchange aggregator 1inch has announced its deployment on the Optimistic Ethereum, or OE, mainnet, highlighting a considerable reduction in user transaction fees and confirmation delays.Sergej Kunz, co-founder of the 1inch Network stated “the 1inch launch on Optimistic will facilitate a dramatic increase in transaction speed."While deposits utilizing the OE network are set to be credited almost instantly, withdrawals will require a waiting period of 7....