Optimism Blockchain is a Layer 2 scaling solution for Ethereum, utilizing optimistic rollups to process transactions off-chain. It aims to significantly increase transaction throughput and reduce gas fees on the Ethereum network. Transactions are bundled and processed on Optimism, with their validity assumed unless challenged within a specific time window. This approach enhances Ethereum’s scalability without compromising security.
Context
Optimism is a prominent topic in discussions about Ethereum’s scalability roadmap and the future of decentralized applications. News frequently highlights its adoption by various decentralized finance protocols and dApps seeking lower transaction costs and faster confirmations. A key focus for the platform involves ongoing development to improve withdrawal times and further decentralize its governance mechanisms.
A rounding error in an hToken contract, combined with low liquidity, enabled an attacker to manipulate exchange rates and drain millions via flash loans.
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