Here we go again.
Publish0x has realized that the relatively unknown and of questionable value coins they pick to reward both content creators and consumers are not gaining traction. The inevitable response? Cycle in something new and hope it sticks.
Of interest this time around, they are maintaining the $ETH token that has been fairly standard (and arguably the only one of any real value) and adding the $OPT token. Another attempt to add liquidity and use to the Ethereum network by providing a Layer-2 application on top of the main Ethereum net that *should* reduce gas fees immensely, lead to widespread usage, huge explosion in value, and help all the HODL's take over the world.....blahblahblah........you get the idea.
If, like me, you've never heard of "optimistic ethereum" or understand how those two words could possibly go together, let's take a look!
You should know this little guy, one of which is currently worth approximately $1650.75
It was created by this guy, who is probably well-known by anyone reading this article.
(Vitaly Buterin)
So what is the Optimism Network???
Not this kind of optimism. But you should have that too!
This is what we're looking for!
What is it?
Simply, $OPT works under a roll-up principle, whereby it rolls up batches of Ethereum transactions and bundles them together on this newer higher layer network and allows them to be traded/recorded/used just as Ethereum always has been just as higher speed and lower cost. Sweet!
How's it doing?
While $OPT may be less known, this Layer-2 add on to the Ethereum network is just that. Sort of an add-on that has reduced speed by nearly 10x and cut costs in half so far. Also, it has positive growth in adoption circa this June 6 article after a bedrock upgrade just went through.
Will It Succeed?
High Speed Low Cost? I'm in!
Additionally, it was developed by major players in the Ethereum ecosystem, but again I wonder what will stop it from running into the same problems down the line or having some sort of conflict when individual Ethereum blocks need to be read/written to that are within these rollups??
Ultimately, I am less than optimistic (See what I did there?) that this latest change will unlock the full use value of crypto in general or lead to some great glorious future for Publish0x. It's unquestionable that ETH has some value, and I will continue to write and read in hopes of earning my daily pennies, but this $OPT business? I remain unconvinced.....but very interested.
Hope you enjoyed, and your time was wellspent!
-Romulus
