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Optimism Launches Testnet Ethereum Scaling Solutions
Optimism has announced the release of its testnet
Synthetix platform is the first to integrate into the testnet
Uniswap and Chainlink will be next participants
Ethereum scaling startup Optimism Announces Limited Testnet Launch.
Plasma Group, a research non-profit organization that announced in January this year that it would stop exploring the scalability of the Ethereum network, has turned into a commercial startup Optimism, backed by $ 3.5 million in venture capital funding. Since then, Optimism has focused on developing a second tier scaling solution using a tool called “optimistic rollup”.
The concept of this tool provides for the reduction of transaction costs through smart contracts outside the Ethereum network with the storage of results in the main network. Optimism will provide fraud-proof scaling, which implies the ability to publish invalid transaction data through a tier 2 node.
In a blog titled Light at the End of the Tunnel, the Optimism developers write that after months of hard work, the team is ready for the first phase of launching their testnet..
The post explains that the team opted for a smooth release process that integrates networks with a limited set of decentralized applications to maximize bug isolation..
Synthetix decentralized exchange for synthetic assets will be the first decentralized application integrated into Optimism testnet.
The site offers its SNX tokens for 200 thousand dollars to attract users to the network.
The Optimism post also says:
We are incredibly grateful to Synthetix for the opportunity to test our code in an environment as close as possible to the mainnet..
Now the testnet is open for general use, but so far without the use of contracts. The entire launch process will take place in four stages, emphasized in Optimism.
There will be no deposits or withdrawals in the first phase. Instead, there will be an airdrop of tokens on the second level Goerli network with the possibility of mining and burning sUSD and the requirement of a staking reward.
At the second stage, it will be possible to open deposits, and there will also be another airdrop, this time via SNX in the Goerli network of the first level, which will allow users to increase their staking share in SNX if they have a deposit.
In the third phase, users will be able to withdraw funds to receive rewards on the mainnet.
There is also a security event scheduled between Phases 2 and 3 where the team will reward users who successfully prove proof of fraud.
The startup blog does not specify a timeline for these milestones, but it does mention that Uniswap and Chainlink will participate in the first trials of the solution..
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