- Optimism, a Layer 2 network enhancing Ethereum scalability with Optimistic Rollups, has rebranded to OP Mainnet to align with its ‘superchain’ vision.
- The OP Mainnet currently hosts over $1.3 billion in total value locked, with significant players like Coinbase employing its technology to develop their own blockchains.
The Ethereum Layer 2 network, previously known as Optimism, has undergone a transformation to become the OP Mainnet. This strategic move is representative of the project’s ambitious objective of constructing a ‘superchain’ network, encompassing numerous Layer 2 blockchains to maximize the scalability of Ethereum applications.
Announced via a tweet from the Optimism Foundation, the change in nomenclature from Optimism to OP Mainnet clarifies the separation between the OP Mainnet blockchain and the broader concept and ethos the term ‘Optimism’ signifies.
“It’s official: the chain formerly known as Optimism is now OP Mainnet,” the tweet read.
The OP Mainnet acts as the structural basis for the envisaged ‘superchain’ network. As of now, it holds a remarkable total value of over $1.3 billion, demonstrating its significant role in the Ethereum ecosystem.
The functioning of OP Mainnet hinges on the use of Optimistic Rollups – a sophisticated technology designed to consolidate Ethereum transactions on an auxiliary layer. By embracing this technology, OP Mainnet is able to process transactions at a faster pace and reduced cost, effectively addressing the mounting scalability issues that plague the Ethereum network.
The tech arm behind OP Mainnet, known as OP Labs, is responsible for the operation of a development software stack coined as the ‘OP Stack’. This innovation is instrumental in equipping developers with the necessary tools to launch their independent Layer 2 blockchains.
Crypto exchange juggernaut, Coinbase, exemplifies the practical application of OP Mainnet’s technology. The company is currently developing ‘Base’, its very own blockchain, employing the OP Stack in its development process.
In essence, the transition from Optimism to OP Mainnet signifies more than a mere rebranding. It underscores the project’s commitment to usher in a new era of scalability within the Ethereum network by harnessing the potential of multiple Layer 2 blockchains under the envisioned ‘superchain’ network. This move is a testament to OP Mainnet’s forward-thinking approach, and it’s fascinating to contemplate the new directions this could steer Ethereum’s future.
