![]() To get around this potential barrier, it's best to stick to using the Optimism Gateway bridge, which will only allow you to transfer the token if it is supported on Optimism. This same logic applies to Optimism: so if there is no contract address for a token on Optimism, you cannot move that token to the network. If a token exists on Ethereum it will have a corresponding token (contract) address. This is because ERC-20 tokens are essentially created by smart contracts. They must be bridged first, and you must ensure the token is supported on Optimism before trying to bridge it over. However, an ERC-20 token on Ethereum is not interchangeable with an ERC-20 token on Optimism. You can move any token from Ethereum to Optimism, provided it exists on both networks. Optimism supports its native token, Ether (ETH), as well as ERC-20 tokens. This ' How Optimism Works' page is a good explainer if you want to find out more. If proven right, verifiers are rewarded and the proposed commitment is replaced with a new one. Verifiers check state information and are responsible for initiating a fraud proof to resolve the issue. the bundle of rolled-up transactions) is posted to Ethereum, a one-week 'challenge window' begins. This occurs in a process referred to as a fraud proof, which is where verifiers come in: when the state information or 'commitment' (i.e. ![]() This approach means that the network does not have to compute every transaction, significantly reducing congestion instead, computation is only performed when the validity of the block is challenged. Similarly to Arbitrum, one of the other major L2 platforms, Optimism's protocols assume that all transactions are valid. Optimism itself currently runs the sole sequencer on the network.Īs its name not-so-subtly hints, Optimism belongs to the optimistic rollup category. Additionally, Optimism requires a sequencer, responsible for collecting transactions from the L2, rolling them up, and posting them to L1 (Ethereum). Optimism uses a system similar to Proof-of-Stake, in which entities running nodes help secure the network. Optimism's execution layer is called the OVM, or Optimism Virtual Machine. Critically, L2s also inherit Ethereum's security and reliability. Their structure allows users access to high-capacity, fast and low-cost alternative to Ethereum mainnet whilst retaining the same fundamental mechanisms and features. Transactions are handled on the L2 itself, the execution layer, whilst data about these transactions is 'rolled up' into a condensed form and posted on L1, demanding significantly less computation than if all of the transactions were to be conducted entirely on L1. L2s are a type of blockchain closely linked to a corresponding layer 1 (L1), which, in this case, is Ethereum. Network name Optimism Token ETH RPC Chain ID 10 Block explorer Optimistic Ethereum Explorer Website Īlso known as Optimistic Ethereum, Optimism is a layer 2 (L2) rollup helping to scale Ethereum.
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