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Optimism Ethereum Scaling Solution Will Not Activate In Time

The Optimism protocol, designed to scale Ethereum with a second layer, is delaying the public launch of its mainnet.

It was assumed that the release will take place this week, but now the earliest date is July 2021. The developers note that they give only an approximate date, since Optimism is a “joint initiative” of the Ethereum community. Key release requirements are infrastructure preparation and stability.

 

“We cannot open the main network to the general public ourselves,” the project writes. “This is a joint initiative in which we, projects and key infrastructure providers such as oracles, wallets, nodes and observers are participating.”

 

Optimism has been developing an Ethereum scaling solution using Optimistic Rollup technology since June 2019. It is expected to help increase throughput and reduce fees. The roll-up technology used by Optimism allows you to “wrap” several transactions into one and thus reduce interaction with the main Ethereum blockchain. Ethereum founder Vitalik Buterin considers rollups to be the most optimal solution for scaling the blockchain of the second largest cryptocurrency in the short and medium term.

The Optimistic Virtual Machine (OVM) “soft launch” in conjunction with the Synthetix exchange took place in January. According to the project, with its help users have already carried out more than 100,000 transactions and saved about $ 10 million in fees. Decentralized exchange Uniswap this week announced that it will launch the third version of its protocol on the main Ethereum network on May 5 and expects to add support for Optimism shortly thereafter. …

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