What is Optimism (OP)?
Optimism is a fast, reliable, and expandable Layer 2 blockchain designed by Ethereum developers. It provides additional features to the existing Ethereum software, allowing dApps to scale on Optimism at a fraction of the cost as compared to when they run on the Ethereum mainnet. This L2 chain works in tandem with the mainnet – transactions take place on Optimism but are validated via the data posted onto the mainnet. Using this method is like traveling on less congested side roads while still receiving protection from traceability of the journey. The core technology utilized by the network is called Optimistic rollups.
Besides, Optimism has its own native token called OP. Take a look at the Optimism price chart above. You can find both – the current and the previous OP price on this chart.
Use Cases of OP Tokens
Holders of the Optimism token (OP) are a part of the governance system of the network. This means that OP holders have voting powers that enable them to vote on various matters.
Besides that, OP coins are also used in the reward mechanism of Optimism to incentivize those building in the ecosystem, as well as those who contribute in any way possible.
If you plan to purchase Optimism coins, make sure to make a thorough analysis of the OP price. Use the Optimism price chart above.
Who Founded Optimism?
The Optimism crypto project was founded by Jinglan Wang and Kevin Ho.
Jinglan Wang is the CEO and the founder of Optimism. She is a blockchain scaling solution expert who also serves as an angel investor and is on the advisory board of numerous blockchain technology companies. Jinglan holds a top position among leading women in the industry.
Kevin Ho is the co-founder and product protocol manager at Optimism Development Lab. He has experience with blockchains and a degree in computer science. Ho is well versed in multiple machine languages and was formerly employed by Hacker (a blockchain protocol development company) before joining forces with Wang to create Optimism.
Optimism has a total supply of over 4.2 billion OP tokens. 25% of the tokens are held in the ecosystem fund, 19% went to investors, another 19% were allocated to the key players in the ecosystem, and 20% were dedicated to retroactive public goods funding. Moreover, 19% was set aside for airdrops, 5% was dropped during the initial airdrop, and 14 % were set aside for future drops.
Recall that you can see the live Optimism price on the aforementioned chart.