To perform a transaction in the Optimism network, you will need ETH Optimism token to cover the network fees.
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What is Optimism crypto?
Ethereum Optimism is a layer two scaling solution for the Ethereum blockchain that aims to improve its scalability and reduce transaction costs. The project was created by Optimism, a team of developers focused on building scalable and user-friendly solutions for Ethereum.
Ethereum Optimism utilizes a technology called Optimistic Rollups, which allows for faster and more cost-effective transactions by bundling multiple transactions together and processing them off-chain. This approach reduces the load on the Ethereum network and significantly improves its scalability.
One of the key advantages of Ethereum Optimism is its compatibility with existing Ethereum smart contracts. This means that developers can easily migrate their applications to the Optimism network without making significant changes to their code.
Customers using Ethereum Optimism can benefit from lower transaction fees compared to the Ethereum mainnet. With transactions being processed off-chain, the cost per transaction is significantly reduced, making it an attractive option for users who want to save on fees.
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