Tuesday, October 26, 2021
Home Crypto News Market Mainnet Trial Run Of Optimism, A Scaling Solution For Ethereum, Launches On...

Mainnet Trial Run Of Optimism, A Scaling Solution For Ethereum, Launches On January 15th

- Advertisement -

The developers of the second-tier Optimism scaling solution for Ethereum have announced that a preliminary launch of their mainnet with Synthetix is scheduled for January 15th.

As part of the preliminary launch, the Synthetix decentralized exchange will have access to transaction scaling. Smart contracts will be converted to the Optimistic Virtual Machine (OVM) format and launched on the mainnet. Given that OVM is almost fully compatible with the Ethereum Virtual Machine, developers won’t have to rewrite their smart contracts.

“Two weeks ago, we froze the code to prepare for the pre-launch of the project’s mainnet and testing with Synthetix. This means that we are almost ready to provide our first users with a complete solution, including converting contracts to OVM and deploying them to the main network, ”Said the Optimism blog.

The developers emphasize that as mainnet launch is in the initial stage, so errors, crashes and other problems are possible. The Optimism team plans to keep the keys for updating the system for at least six months – so that in case of serious problems, they can quickly respond and update the solution.

The launch of the public testnet is scheduled for March 15th. The developers hope to have provided the necessary documentation by this time so that Ethereum developers can integrate Optimism support.

As a reminder, the OVM demo was launched in May 2020. The creators of the DeFi Synthetix protocol took part in the launch and testing of OVM.

Read More On Optimism Medium Blog:

https://medium.com/ethereum-optimism/optimism-year-in-review-6624dbba266c

 

- Advertisement -
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Good Games Guild Announces Triple IDO on Seedify, Ignition, MoonStarter

Jakarta, Indonesia, 24th October, 2021, Good Games Guild, a gaming hub that aims to create the largest virtual world economy by optimizing its owned...

YearnNFT Finance: An Advanced Approach to NFTs with Digital Art and Collectibles

Since August, the market sales with respect to NFTs have skyrocketed, where a single NFT sales round up to millions worth. There have been...

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.