Karl Floersch

Optimism is a Layer 2 blockchain built for Ethereum that can process its transactions in batches using optimistic rollups.

Optimism, an Ethereum layer-2 (L2) solution, that was created with the goal to be user-friendly and cost-effective. Optimism was initially announced in June 2019 and its mainnet was launched in December 2021.

Optimism closely mirrors the Ethereum blockchain, enabling developers to deploy their existing contracts seamlessly. As an Ethereum-based decentralized infrastructure platform, it offers fast transactions and scalable smart contracts. The native token of Optimism is OP, which powers the blockchain network.

Transactions on Optimism are consolidated into batches and relayed to the Ethereum mainnet, where only the updated chain state is recorded. These rollups, named "optimistic" due to their assumed validity, can be challenged within a seven-day timeframe. Consequently, withdrawals from Optimism to Ethereum require a seven-day duration to ensure security and allow for potential challenges to be resolved.

Karl Floersch

Optimism. CTO

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Optimism (CTO)