Co-Creator of Ethereum thrilled with layer 2 protocol OP mainnet

The Co-Creator of Ethereum, Vitalik Buterin, is thrilled with layer 2 protocol OP mainnet and considers it a significant landmark. He used the occasion to showcase the many success stories of Ethereum’s upgrading services. 

OP Labs, the firm responsible for building the Optimism protocol, has spoken of significant technological advancement, thrusting the project to the level of stage 1, about decentralization. 

Through the release of permissionless fault proofs, the extraction of ether and the ERC-20 token from the Op mainnet becomes possible without the necessity of including intermediaries. 

Other than the Op mainnet, upgrading services such as Arbitrum and dYdX V3 have similar potential. 

According to Buterin, L2s will join the queue to place themselves in stage 1. He hit out at the non-believers who seemed sanguine that scaling Ethereum was impossible, as in the case of merge and Dencun, witnessing a decline in L2 fees. 

The Ethereum upgrading space went on an upward swing at a time when the markets were sulking, and Coinbase connected with the introduction of the Base blockchain. 

The L2s have registered a TVL amounting to $43.8 billion, a fourfold jump. They processed many more transactions than the Ethereum base chain. 

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In the last 24 hours, it was noted that the OP token was trading at $2.08 after a 2.71% drop.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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