So what is Optimistic Ethereum ? <\/p>\n\n\n\n
Does it mean blocks are considered “half-full” when at 50% capacity?<\/p>\n\n\n\n
Optimism tries to solve one of Ethereum’s biggest challenges. Speed and cost of transactions.<\/p>\n\n\n\n
Currently Ethereum can process less than 30transactions per second, compared to 50,000+ for Visa.<\/p>\n\n\n\n
Transactions are auctioned, causing urgent moves to send tx fees upwards of $1,000 in rare cases, but routinely more than $20.<\/p>\n\n\n\n
Optimism builds on top of the current Ethereum chain (called Layer 1 or L1). So it’s not a hard fork, or alternate #cryptocurrency.<\/p>\n\n\n\n
Instead it employs so-called validators. Validators group and process multiple transactions and publish a result on the Ethereum chain. So they are transaction speed multipliers (and fee dividers \ud83d\ude09 )<\/p>\n\n\n\n
But how can we be sure that the validators perform what they say they do and don’t cheat?<\/p>\n\n\n\n
Other validators check the output and if a validator misbehaves it gets excluded from further validation. And correct validation awards a fee to the validator to create an economic incentive.<\/p>\n\n\n\n
The reason this is called Optimism is that it hasn’t been tried yet, and large-scale collusion between bad-faith validators could pull the roof down (over their own heads, but it has happened before).<\/p>\n\n\n\n
For more detailed info check out this article that explains the tech well: https:\/\/tinyurl.com\/kj6uczb6.<\/p>\n","protected":false},"excerpt":{"rendered":"
So what is Optimistic Ethereum ? Does it mean blocks are considered “half-full” when at 50% capacity? Optimism tries to solve one of Ethereum’s biggest challenges. Speed and cost of transactions. Currently Ethereum can process less than 30transactions per second, compared to 50,000+ for Visa. Transactions are auctioned, causing urgent moves to send tx fees […]<\/p>\n","protected":false},"author":1,"featured_media":373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/posts\/372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dubidu.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=372"}],"version-history":[{"count":1,"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/posts\/372\/revisions"}],"predecessor-version":[{"id":374,"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/posts\/372\/revisions\/374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dubidu.io\/index.php?rest_route=\/wp\/v2\/media\/373"}],"wp:attachment":[{"href":"https:\/\/dubidu.io\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dubidu.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dubidu.io\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}