Celo Launches Optics Smart Contract Deployment

Blockchain technology is considered to be the future now. Previously, it had only been Ethereum and Bitcoin, but today, the L1 landscape is witnessing the mushroom growth of blockchains like Avalanche, Solana, Polkadot, and more. The Celo community is an inclusive financial system that seeks is to deploy the Optics smart contract to contribute to the growing ecosystem of blockchain technology.

The smart contract of Optics (OPTimistic Inter-chain Communication Standard) consists of a protocol that allows trust-minimized and gas-efficient interoperability. Unlike other systems of cross-chain communication, Optics enables users to leverage the mechanism of optimistic bridging to gain access to radical cross-chain and decentralized communication facilities at low costs. The community of users at Celo Community is excited about the deployment of the Optics smart contracts at Celo to make the best of the following advantages:

  • Optics connects multiple blockchains in the form of a 1-to-N model to create bridges in the form of airport hubs. 
  • Optics is ten times less expensive and more gas-efficient than the header relays of Ethereum. 
  • The smart contract model of Optics can be deployed on any blockchain and multiple chains of smart contracting simultaneously. 
  • Optics does not mandate the addition of elliptic curves or new primitives to its base layer.

The core contracts of Optics and the contracts of token bridge have been deployed on the main networks of Celo, Polygon, and Ethereum. Users will be able to find the contracts of the token bridge, and the addresses of core contract at the repository of Optics smart contract called the Optics Repo. Currently, the Celo platform is operating off-chain agents for updating, relaying, and processing messages across different Blockchains. The best part of Optics is that users will be provided with a dispute window of three hours for the detection of fraud. At present, the Celo platform is also focusing on the development of a GUI for easy interaction with the bridge and convenient exchange of tokens.

Ultimately, it is the objective of Optics to create the standard for chain-agnostic interoperability for rolling out more smart contract chains in future.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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