Ethereum Layer-2 Scaling Solution Optimism Now Supported By Binance
Binance, the world’s largest cryptocurrency exchange by volume, announced on Friday that it had integrated the layer-2 scaling solution Optimism because Binance is optimistic about the future of Ethereum’s Layer 2. The exchange explained that, at this time, deposits are the only thing supported; withdrawals will not be available until the exchange achieves optimal liquidity. […]
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There are currently 38 projects deployed on the Ethereum layer-2 network. More are expected as attention shifts to scalability. Automated market maker and decentralized finance (DeFi) protocol Balancer has officially deployed on Optimism, the highly touted Ethereum layer-2 scaling solution, in a move designed to enhance user functionality by increasing scalability and reducing fees. Balancer’s Optimism deployment was carried out in conjunction with Beethoven X, a decentralized investment platform on the Fantom Network that forked from Balancer v2. Together, both teams are said to have....
On August 17, the decentralized exchange (dex) aggregator 1inch announced the platform will leverage the Layer 2 solution called optimistic rollups provided by the project Optimism. The collaboration with Optimism aims to “substantially increase transaction speeds and lower gas fees for 1inch users.” 1inch to Use the L2 Solution Optimistic Rollups via Optimism Gateway Ever since the Ethereum network has been dealing with transaction congestion and much higher fees in 2021, innovations revolving around Layer 2 (L2) scaling solutions and sidechains have been pushed to the....
In earlier February, the team behind Ethereum layer 2 scaling solution Optimism received word on a critical bug that could allow a bad actor to “create ETH” on the network. The bug was part of the solution’s Geth fork and was discovered by Jay “saurik” Freeman, Head of Technology at Orchid Protocol. Related Reading | […]
The Ethereum scaling solution has surpassed $1 billion in total value locked within a matter of weeks. According to data from DeFi Llama, total value locked (TVL) on Optimism, a layer-two scaling solution for the Ethereum blockchain, has surged 284% in the past month. The vast majority of TVL consists of users lending and borrowing assets on Aave through Optimism's layer-two chain.Investors have been bidding up digital assets related to the Ethereum ecosystem in anticipation of The Merge upgrade, which will see the blockchain transition from a proof-of-work network to that based on....
Layer 2 scaling solution Optimism, has secured $150M in funding which it will use to hire new developers and decrease fees on the Ethereum network. Popular Ethereum scaling solution Optimism has announced a $150 million Series B funding round co-led by Andreessen Horowitz (a16z) and Paradigm at a total valuation of $1.65 billion. According to a blog post from Optimism, the Layer 2 (L2) solution has saved users of the Ethereum network over $1 billion in gas fees. The funding will be used to expand the Optimism team and go towards working on reducing network fees even further. Fees on the....