Optimism Rebranded As OP Mainnet, Aiming To Create SuperChain

Key Points:

• The market’s largest Layer 2 announced that Optimism had changed its name to OP Mainnet.
• This move is intended to reflect the goal of creating a “superchain” with multiple layer two networks on the OP Mainnet itself.
• The superchain will operate a software stack called OP Stack to allow developers to create their own L2 blockchains.

According to official news, Optimism has changed its name to OP Mainnet. The move is intended to reflect the goal of creating a “superchain” consisting of multiple L2 networks, with the OP Mainnet serving as the base layer for the “superchain”.

OP Mainnet operates on Optimistic Synthesis, a technology aggregating Ethereum transactions on a secondary layer. The adoption of this technology enables faster and cheaper transaction processing, addressing the growing scalability concerns in the Ethereum network.

OP Labs, the developer of the OP Mainnet, operates a development software stack known as the OP Stack, which allows developers to launch their own Layer 2 blockchains. Cryptocurrency exchange giant Coinbase is developing its own Blockchain, called Base, using the OP Stack.

Prior to that, on June 6, Optimism completed the most significant upgrade of the platform, Bedrock, which brought many important improvements to reduce fees, shorten asset deposit times, increase node performance, and become an Ethereum-like network.

Bedrock has turned Optimism into a multi-client ecosystem, meaning there will be at least two options for the client software used to run the network. This means there will be at least two options for projects to use to launch the network. If something goes wrong with one client software, the Blockchain can rely on other users running other client software to keep the network running.

The price of $OP has steadily increased since the Bed Rock upgrade was launched and succeeded. It is currently trading at $1.38. $OP has not had too much volatility even though 587 million USD of $OP tokens were unlocked on June 3.

The competition of Layer 2 is getting more and more fierce, so this update is expected to be a stepping stone for Optimism to thrive in the future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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