WardenSwap Expansion to Optimism, Ethereum Scaling Solution
Hello WARDENers 👋
As you all might know that Ethereum is the most outstanding blockchain-based platform. However, its drawbacks of slow transaction speed due to a huge number of users and expensive gas fees make users seeking for alternative choices. Regardless of how alternative choices can serve a faster transaction per second (TPS) and lower gas price, less security and less decentralization have to be traded-off. 🚨
And yep, the need for the ‘scaling solutions’ isn’t being overlooked. Ethereum scaling solution is taking its place to solve this limitation and some DEXes have already launched their platform on Optimism. 🚀
The main goal of the improvement is to remain decentralized and secure plus enhancing the trading speech and reducing transaction fees.
💡 Highlight!
- Faster transaction per second. ⚡️
- Remain decentralized and secured. 🛡
- Decrease transition fees by 10x than Ethereum. 💰
What is Optimism?
Optimism is a Public Benefit company that is committed to working on Ethereum scaling solutions by using its technology called, ‘Optimistic Rollup’
Optimistic Rollup is Ethereum Layer 2 scaling solution. It supports all of Ethereum’s Dapps by running about 2,000 transactions per second while Ethereum can run only 15 transactions per second only and also help reduce both gas fees and Ethereum transactions per second.
According to Optimism.io demos, the difference can be seen clearly that Optimistic Rollup can save gas fees up to 44.4x on Synthetix, comparing between Layer 1 for 512,365 and Optimistic Rollup for 11,550. Other samples are given below to show its power. 💪
This scaling solution still remains Ethereum’s decentralization or security because transaction data is still stored on the Ethereum network.
Optimism and DeFi
The possibility of scalability for Ethereum is good news for the network, its Dapps, and DeFi. Lower costs on exchanges lure bigger trading volumes. The increase in users number implies more individuals are coming to transact on the network. 🎉
Moreover, this scalability of Optimistic Rollup or other scalability technologies is over and above users' expectations, as they will definitely bring massive innovation toward financial industry as well as other industries such as Art (NFT), gaming and etc. Faster transactions per second and lower gas fees will be just a basic standard that users are deserved. 🏆
Apart from Optimism, there is also a similar project called Arbitrum which WardenSwap sees the potential to expand to in Q4/2021. ⌛️
With the growth of Ethereum and its upcoming scalability, WardenSwap’s life has never been brighter. ✨
