An Optimistic View of Your Portfolio with ShapeShift
We couldn’t be more excited to announce our support of Optimism Network on our open-source, community-owned, no-KYC app! ShapeShift users can now buy, sell, track, and trade on the Optimism network; empowering users to manage over 5400+ assets across 9 chains in one easy-to-use interface.
What is Optimism?
Optimism is a game-changer in the world of decentralized finance. It is a layer-2 scaling solution that operates on top of the Ethereum network, providing faster, cheaper, and more efficient transactions. This new network is poised to–and already has–revolutionized the way we interact with digital assets and opened up new avenues for growth and innovation within the crypto space.
- Optimistic rollups
One of the key features of the Optimism network is its use of optimistic rollups. This means that instead of having every transaction confirmed on the Ethereum blockchain, Optimism aggregates multiple transactions into a single, larger transaction that is then confirmed on the Ethereum network. This reduces the number of confirmations required, thereby reducing the cost and time it takes to complete a transaction.
Another advantage of the Optimism network is its scalability. It can process thousands of transactions per second, making it a viable solution for decentralized applications that require fast and efficient transactions. This opens up new opportunities for decentralized exchanges, games, and other use cases previously limited by the slow and costly transactions on the Ethereum network. At the time of writing this blog, Optimism's optimistic roll ups enable up to 2000 transactions per second.
Lastly, the Optimism network is built with security in mind. The network is designed to ensure that even if an attacker were to compromise one of its components, the security of the underlying Ethereum network would not be affected. This gives users peace of mind knowing that their assets are backed by the security of Ethereum Mainnet.
An Optimistic View of the Future with ShapeShift
We couldn’t be more excited to welcome Optimism to our ShapeShift community alongside the 8 additional chains already supported. Onramp and swap tokens within the Optimism ecosystem with as little as 2 clicks and embrace the cross-chain, composable, decentralized Web3 world that was made JUST for you on ShapeShift. Join us as we take the next step towards supporting all chains, all protocols, and all wallets on our community-owned, no-KYC, DApp.