Optimism execs are optimistic for Ethereum’s future

Because the layer-1 blockchain Ethereum continues to develop and evolve, layer-2 blockchains like Optimism are working to alleviate problems with scaling, velocity and prices.

“We’ve been engaged on the identical factor since 2017,” Jing Wang, Optimism’s CEO and co-founder, mentioned on TechCrunch’s Chain Reaction podcast. “We’ve all been making an attempt to resolve the identical drawback for a very long time.”

The mission to scale Ethereum is ongoing, mentioned Ryan Wyatt, chief progress officer at Optimism. Earlier than becoming a member of Optimism, Wyatt was the president of Polygon Labs, the entity constructing the layer-2 blockchain Polygon.

Because it stands, utilizing and transacting with Ethereum remains to be comparatively clunky, sluggish and dearer. That’s why layer-2 (L2) blockchains like Optimism exist: to give attention to scaling and velocity, whereas additionally reducing prices for customers. It helps customers work together with Ethereum’s chain for about 10x cheaper by way of its personal community and in addition gives builders the flexibility to construct decentralized functions (dApps) in a sooner, scalable manner.

“Simply as Amazon is a serverless again finish for web2 functions, Optimism is a decentralized serverless again finish for web3 functions,” Wang mentioned. “We needed to scale Ethereum as a result of I believe Ethereum stays essentially the most near the unique decentralization values and we needed to offer it a go staying near those self same values.”