Hi dear followers, you're growing little by little every day and I'm really happy about this. Hope you like my articles and get to know something new with me :) Always trying to do my best.

Love apart, let's dive into today's article :D

We're talking about Optimism, or Optimistic Rollup, a new development for scaling on Ethereum layer 2. It has recently started a new partnership with etherscan.io, the biggest explorer for Ethereum. We'll discover shortly Optimism and then we'll go through a little overview about the new partnership.

Hope you'll like it!

What you'll read

• Optimism is a specific tool for the Ethereum network that aims to speed up transactions while reducing fees.
• Recently, Optimistic Rollup partnered with etherscan.io, an essential tool within the Ethereum blockchain.

Intro

Recently, Optimism, or Optimistic Rollup, has been in the news a lot, and those who hang out on the Ethereum blockchain are certainly familiar with the topic, which is catching the attention of many users. Recently, Optimism announced a partnership with Etherescan, which heralds the advent of some very interesting updates.

In short, Optimistic Rollup is a second-level scaling solution that aims to increase the number of transactions that can be executed on the Ethereum blockchain. Let's try to understand the concepts together in simple terms.

Optimism Ethereum: what is it?

Optimism's goal, as its name suggests, is to bring optimism to all those who are tired of the prohibitive fees within the Ethereum blockchain. Working as a scaling solution on layer 2, Optimistic Rollup scales not only the execution of calculations but also the throughput, i.e. the speed of transactions.

The main mechanism on which the tool is based in the OVM, an acronym for Optimistic Virtual Machine, which is fully compatible with the Ethereum Virtual Machine, EVM, which is responsible for contract execution.

In the simplest terms, Optimistic Rollup makes it possible to speed up transactions by far, while minimizing the costs of commissions for the execution of a smart contract. This preserves the experience for developers, who will not need to modify tools, APIs, and smart contracts, while improving the user experience.

In fact, the interoperability between dApps will be smoother and more accessible. The Optimism team has also released a demo version called UniPig, so that anyone can test the potential of their tools for themselves.

The demo was launched in collaboration with Uniswap and allows you to try out several customized components on layer 2.

Uniswap fee comparison with Optimism

Optimistic Rollup also has a section called gas comparison, where you can see for yourself the amount of fees you would save by using the tool. At the time of writing this article, a trade on Uniswap would cost around $1.31, compared to the $10-15 you would pay in a normal situation.

In addition, Optimism has recently announced the integration with etherscan.io, an essential tool for all teams who want to work within the Ethereum blockchain. Etherscan.io is basically a block explorer that allows you to analyze the various platforms and protocols that run on Ethereum.

Optimism e etherscan.io. A brand new partnership

Having started a new partnership with etherscan.io, it will be possible to monitor even more accurately the deposits and withdrawals of the various users. By moving to layer 1, you will also be able to permanently complete withdrawals, adding speed to your transactions.

Etherscan.io logo

On layer 2, transactions in ''pending'' will be displayed when they are pre-confirmed by the sequencer and when they have been within layer 1. It will also be possible to personally verify and publish the code of the contract compiled by the OVM.

A collaboration with an Ethereum giant like etherscan.io can only benefit the Optimism team, as they are true professionals who have been working in the industry since its inception. According to what the team announced, among other things, the mainnet will be launched in July 2021, although there are already some movements regarding the whitelisting process.

Conclusions

For small investors or retailers, Ethereum's fees can be really annoying and prohibitive, as they do not allow you to deposit small amounts of money. There are many cases where people try to invest as little as $50 in an asset and end up paying over $20 in fees depending on network congestion.

A tool like Optimistic Rollup could really change that, lowering the barriers to achieving mass adoption. Obviously, accurate predictions about the team's success or failure cannot yet be made, but the intentions seem quite positive.

By keeping up, you could be among the first to benefit from low fees and super-fast transactions within a popular network like Ethereum.

Did you already know what Optimism is and the mechanism it's based on? :) Let me know in the comments below!

*This article will be published on theledger.it in Italian language following our schedule, and was translated to share my knowledge with you :) Give it a look if you want to support us :)