Optimism (OP) is a Layer 2 network that solves Ethereum’s scalability issues, bringing low fees and faster transactions to users. Scalability and low gas fees have always been Ethereum’s major problems. This is because, amid the trilemma of crypto, where security, decentralization, and scalability are not equal, Ethereum chose more security than decentralization and more
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Optimism (OP) is a Layer 2 network that solves Ethereum’s scalability issues, bringing low fees and faster transactions to users. Scalability and low gas fees have always been Ethereum’s major problems. This is because, amid the trilemma of crypto, where security, decentralization, and scalability are not equal, Ethereum chose more security than decentralization and more decentralization than scalability to focus on. This is the reason Ethereum has a lot of layer 2s to help solve the scalability difficulties.
Over the years, people have had to spend huge amounts of ETH gas to perform a transaction, but no one really cared at the time because the value of ETH was small. For example, spending 0.00src ETH when ETH was worth $300 means that you were spending $0.03 on gas fees, which was cheap.
This was also at a time when the network was less congested, but over time, the value of ETH increased from $300 to over $2,000. In a more congested period, users have found it could cost upwards of $80 in gas fees to approve a transaction on the Ethereum chain.
OP network is one of the Layer 2 fixes for ETH
What better way to solve this issue than to introduce the Ethereum Layer 2s, which will give you almost the same properties as Ethereum but is expected to be better in what Ethereum is lacking. Ethereum is lacking in the scalability aspect, some of the layer 2s are helping to fill the void while some are not. One layer 2 Ethereum chain that is helping to feel the void is the Optmism chain.
Ethereum is great, but imagine not wanting to transact on the chain because you feel the gas fee is too expensive. It’s like spending $50 on a delivery fee to buy a $src0 item. Although Ethereum boasts of strong security, some people still detest the expensive gas fee and decide to build on other chains.
Optimism (OP) Network Benefits: Cheap gas fees and lightning-fast transaction speed
Optimism is an Ethereum rollup that is known for cheap gas fees and lightning-fast transaction speed. Using the chain to transact will make you appreciate it so much and will make you want to transact on the chain regularly.
If you were used to paying $src0 on gas fees on the ETH network, you would appreciate the Optimism network more, as you would spend less than $0.0src on gas fees. The Optimism Network is one of the most successful Ethereum layer 2 chains, with a very successful airdrop of its native token called Optimism (OP), which can be traded on centralized exc
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