Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Ethereum postpone Optimism scaling solution to July

CryptocurrencyMar 26, 2021 08:00PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Ethereum postpone Optimism scaling solution to July

The much-anticipated Ethereum Layer 2 scaling solution Optimism has been postponed to at least July.

Optimism was scheduled to be released this week. However, the mainnet has now been pushed forward to at least July, the team disclosed. According to the team behind the upgrade, instead of a rushed effort geared towards lowering transactional fees, they’ll seek a more “collaborative effort” from the Ethereum community. They wrote:

Opening mainnet to the public is not something we can do alone — it will be a collaborative effort between us, projects, and core infrastructure providers like oracles, wallets, nodes & explorers.
That being said, Optimism will not launch until the ecosystem is ready and stable. July is arguably the earliest date that this might happen.

As a backstory, Optimism has been working on an Optimistic Rollup-based Ethereum scaling solution for over a year and a half. As reported by BTC PEERS on several occasions, high gas fees on the Ethereum blockchain are becoming a reason to worry. Optimism is meant to tackle this challenge by increasing the network’s throughput and reducing gas fees.

The solution (the Optimistic Virtual Machine) was deployed earlier this year with decentralized exchange Synthetix. To limit the risk to its platform, Synthetix is integrating the solution in four phases. However, the Optimism team claims that users of the exchange are already enjoying the speed and cost-savings benefits of its solution. And this was what fuelled their decision to quickly rollout Optimism on the mainnet.

We were overeager to give everyone the speed & cost savings that Synthetix users have been enjoying (~$10.1 million saved on fees across 103,775 transactions). In our excitement, we only considered our own needs and failed to consider our partners’ timelines & requirements.
Obviously, the decision was not well thought out, and Ethereum users might have to wait a bit longer for a public launch.

While the rollup on Ethereum mainnet has been postponed, Uniswap has unveiled plans to integrate with Optimism. Early this week the leading decentralized protocol said that following the launch of its version 3 (v3) on May 5, a Layer 2 rollout on Optimism would follow “shortly after.”

Continue reading on BTC Peers

Ethereum postpone Optimism scaling solution to July

Related Articles

How to use UniSwap: A step-by-step beginner's guide
How to use UniSwap: A step-by-step beginner's guide By Cointelegraph - Jan 23, 2022

The Uniswap decentralized exchange (DEX) is the most popular DEX built on the Ethereum blockchain. For users wondering, "What is Uniswap?," this article provides an overview of...

Cardano Climbs 10% As Investors Gain Confidence
Cardano Climbs 10% As Investors Gain Confidence By - Jan 23, 2022 - Cardano was trading at $1.1434 by 04:28 (09:28 GMT) on the Index on Sunday, up 10.12% on the day. It was the largest one-day percentage gain since...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email