Using Optimism
What you need to know about Optimistic Ethereum (OΞ)

What is Optimism?

Optimistic Ethereum (OΞ) is an Ethereum scaling solution built by the Optimism team. It is a layer 2 solution, meaning it takes transaction execution off of the Ethereum main chain and onto a second layer (OΞ). Transactions on L2 are much faster and cheaper than on Ethereum, and their output data is batched back to L1 so that L2 maintains the security guarantees of Ethereum. To learn more about Optimism and their system, visit their FAQ!

How much cheaper and faster is Optimism?

You can see for yourself using Optimism's Gas Comparison tool! Copy and paste a transaction hash from Etherscan and see how much a transaction could save on Optimism. Below is a calculation our team did for a limit order on Rubicon. (This was when gas was ~97 gwei, it would be even cheaper today!).
For most transactions, Optimistic Ethereum is roughly 10 times cheaper than Ethereum. This is in no way a guarantee though, some transactions will have lesser savings, but some will have even greater! Optimistic Ethereum has a roadmap full of future upgrades, so over time, you can expect transaction costs to continue falling as things like BLS signature aggregation are implemented to OΞ.

So is Optimismic Ethereum (or other L2s) a separate blockchain?

No! Layer 2 solutions are smart contracts (or a series of smart contracts) on Ethereum that create more scalable environments for Ethereum applications. You still pay for gas in ether, and your wallet can seamlessly interact with layer 2s just by switching networks. If you want to learn more about layer 2 and rollups in general, check out our layer 2 resources page!
Last modified 7d ago