Optimism is a Layer 2 (or “L2”) blockchain that inherits the security of Ethereum and helps the Ethereum base layer (or Layer 1) scale through faster and less expensive transactions. For projects that are EVM compliant, Optimism was made to be straightforward to launch. Optimism is an “Optimistic Rollup,” which leverages the base layer Ethereum network’s security to speed up transaction processing. Imagine doing it like constructing a home in a secure, guarded neighborhood. You don’t need to put up security cameras or get guard dogs because the area is already very secure. Layer 2 blockchains provide scaling solutions for Layer 1 (or “L1”) blockchains. Optimism is a scalability solution for Ethereum in this case. The primary or foundational blockchains are layer 1 blockchains.  Transactions from Layer 1 chains can be processed on another blockchain, requiring the original chain to just keep a summary of the completed operations. This dramatically reduces the blockchain’s requirements, increasing scalability and lowering gas costs. The Optimism Foundation is a non-profit organization dedicated to the management of Optimism. The Optimism Collective is the two-tier governing system of Optimism, consisting of the Token House and the Citizens’ House. Token House participants can be OP owners. How Does … Continue reading What Is Optimism?