Optimism announces launch of one-click deploy on Ethereum
- Optimistic ETH revealed plans for October, including one-click deployment on the altcoin's network.
- Security model to remain the same, more dApps are likely to get attracted to the Ethereum ecosystem.
- Transparency emerges as a top priority, 'Optimistic specs repo' to serve as a new source of truth with maximum compatibility.
Optimism is a public benefit corporation dedicated to scaling the Ethereum network. The organization has recently announced its plans to make it easier to deploy smart contracts with the current level of security.
Optimistic rollups set to extend smart contract deployment beyond EVM capabilities
The Ethereum Virtual Machine (EVM) is embedded within each full-Ethereum node, and instances of EVM interact with smart contracts on the network. EVM decides the state of the Ethereum network at any given block, and it is considered a powerful Turing complete machine.
Optimism, however, intends to push the capabilities of EVM for smart contracts that deploy on Optimistic tech by tackling the scaling challenges that exist on the base layer.
The layer-two rollup network is now prepared to support one-click deployments of smart contracts on the Ethereum network.
Optimism announced that it would achieve EVM equivalence and compatibility by shrinking the protocol to its most lightweight form possible.
Introducing the future of Optimistic Ethereum: https://t.co/CzTGuk6OdO
— Optimism (@optimismPBC) September 17, 2021
The announcement reads,
The upgrade removes our custom compiler, and over 25,000 lines of other code, in favor of simply using what already exists.
Optimism has embraced transparency to the extent that the protocol will be designed publicly, just as the software was open. Optimistic rollups boost Ethereum transaction speeds by 10-100x eliminating the slow and expensive part of the transaction, the "computation."
Embracing transparency and one-click deployment will likely boost the adoption of Optimism's layer two solutions by allowing more smart contracts in the Ethereum ecosystem.
Optimism is not the top choice for projects currently, but the deployment and successful implementation of the one-click launch is likely to change that.
Analysts have observed the flow of capital from Ethereum to layer-two scaling solutions. The October development allows all EVM compatible dApps to run on Optimism's layer two and give the solution a competitive advantage over rival Arbitrum.
Colin Wu, a Chinese Journalist, shared details of Arbitrum's dominance among L2 solutions in a tweet. Arbitrum currently accounts for over 34% of the total value locked on the Ethereum bridge, but Optimism may challenge this dominance with a one-click launch.
According to Dune Analytics, in the TVL ranking of the Ethereum Bridge, Arbitrum has surpassed Polygon to rank first. Arbitrum accounts for 34.6% of the TVL of the Ethereum Bridge, and Polygon accounts for 30.4%. pic.twitter.com/dYOoSghyY2
— Wu Blockchain (@WuBlockchain) September 20, 2021
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
