Optimism launches Law of Chains to enhance Superchain infrastructure 

TL;DR Breakdown

  • Optimism has released a report on its recent release of Law of Chains which provides an open neutrality framework for participants in the OP Stack Superchain ecosystem.
  • Superchains will benefit from constant development and access to better and more accessible infrastructure.
  • Optimism has attracted more growth, such as Worldcoin’s migration to the scaling solution.

Description

Optimism, an Ethereum L2 scaling layer, has released a report on its recent release of Law of Chains which provides an open neutrality framework for participants in the OP Stack Superchain ecosystem. The project aims to promote the fundamental concepts of user protection, decentralization, and economic autonomy. Meanwhile, feedback from the community is welcome on … Read more

Optimism, an Ethereum L2 scaling layer, has released a report on its recent release of Law of Chains which provides an open neutrality framework for participants in the OP Stack Superchain ecosystem. The project aims to promote the fundamental concepts of user protection, decentralization, and economic autonomy. Meanwhile, feedback from the community is welcome on the current v0.1 version.

Optimism’s Law of Chains to improve Superchains

The Law of Chains provides the framework for identifying an MVP of the Superchain and guides Optimism Governances. Optimism Governance shifts from overseeing a single chain to overseeing a standard shared by multiple chains, establishing the qualities needed to join the Superchain and giving users security as they move across and conduct transactions with its priority.

The Optimism report explains that the Law of Chains first lists numerous stakeholder types throughout the ecosystem. The protections and expectations that should be accorded to those participants are then defined, along with the principles that must be respected while making choices that impact them. 

Users can use the OP Stack however appropriate because it is a public good with an MIT license. For those who desire to participate in the positive sum game, the Law of Chains will only apply to OP Chains that want to join the Superchain.

Optimism believes the Superchain will be able to maintain homogenous, neutral, and open block space through the Law of Chains. A dedication to the Law of Chains entails protecting the interests of chain users, creators, and other stakeholders. If a chain is a member of the Superchain, it can reliably show its block space’s neutrality, openness, and homogeneity, supported by Optimism governance. Optimism intends to formally include it in its governance and the initial governance procedure for the new chain joining the Superchain ecosystem in the upcoming quarter.

Superchains will also benefit from constant development whereby they will have access to the latest technology without having to bother maintaining it themselves, thanks to shared updates. In addition, they will make it possible for Superchains to access better and more accessible infrastructure. Since every chain in the Superchain has demonstrated a sincere commitment to a certain standard, they can cooperate to guarantee the accessibility and cost of essential services like indexing and sequencing.

Optimism has been attracting more growth

Worldcoin, a decentralized ID and wallet protocol, has moved its activities to Optimism. By making this change, Worldcoin hopes to prepare for its upcoming launch by using the scalability capabilities that come with its deployment on Optimism, such as user account migration and adding Uniswap functionality to the World App.

The protocol highlighted its dedication to building a scalable, inclusive future that unleashes the full potential of crypto and furthers the evolution of identification on the blockchain. This migration includes building bridges from Ethereum to Polygon and Optimism for the World ID system. 

Worldcoin’s move complies with Optimism’s newly developed Superchain concept, which encourages the interoperability of several chains on top of the L2 platform, transforming it into a platform for chains. The move also enables its core features, such as ID validation services, while bringing this decentralized protocol’s benefits to the L2 layer. For instance, Worldcoin claims that its ID features could improve the Citizens House’s operation. This governance element aims to assist in retrospectively allocating cash to important public goods of the protocol.

Meanwhile, more than 2 million people have already signed up for Worldcoin, mostly from nations with numerous Orbs—the biometric devices required to include users by reading their irises and recording their data in the protocol—such as Barcelona, Berlin, Buenos Aires, New York, Seoul, and Tokyo.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions. 

文章来源于互联网:Optimism launches Law of Chains to enhance Superchain infrastructure 

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月26日 19:55
Next 2023年7月26日 20:36

Related articles

  • Crypto regulations hang in the balance as Coinbase CEO participates in confidential house meeting

    TL;DR Breakdown Coinbase CEO Brian Armstrong to meet House Democrats for a confidential digital-asset legislation and regulations discussion. New Democrat Coalition’s involvement signifies recognition of the importance of digital assets and blockchain technology. Recent court ruling favoring Ripple boosts Coinbase’s stock and highlights partial success for the crypto sector. Description In an exclusive development reported by Bloomberg on Monday, it was revealed that Brian Armstrong, the CEO of Coinbase, will participate in a confidential meeting with House Democrats on Wednesday morning. This closed-door gathering will include members of the New Democrat Coalition, an influential group comprising more than a hundred Democrats known for their commitment … Read more In an exclusive development reported by Bloomberg on Monday, it was revealed that Brian Armstrong, the CEO of Coinbase, will participate in a confidential meeting with House Democrats on Wednesday morning. This closed-door gathering will include members of the New Democrat Coalition, an influential group comprising more than a hundred Democrats known for their commitment to fostering economic growth, innovation, and fiscal responsibility. The forthcoming summit aims to delve into various crucial…

    Article 2023年7月19日
  • US-China tech clash heats up: Beijing’s export move

    TL;DR Breakdown China has imposed export restrictions on gallium and germanium, key elements used in semiconductors and electric vehicles, causing global supply chain disruptions. This move is viewed as Beijing’s counter to U.S. attempts to hinder China’s technological progress, escalating the ongoing U.S.-China tech trade war. Fears of potential restrictions on rare earth exports are surfacing, given China’s dominance in their production. Description The temperature in the tech arena between the United States and China is escalating, as Beijing’s recent maneuver in the export sector introduces a new dynamic to this complex relationship. In an unexpected move, China has clamped down on the export of two essential metals, gallium and germanium, largely utilized in the manufacture of semiconductors … Read more The temperature in the tech arena between the United States and China is escalating, as Beijing’s recent maneuver in the export sector introduces a new dynamic to this complex relationship. In an unexpected move, China has clamped down on the export of two essential metals, gallium and germanium, largely utilized in the manufacture of semiconductors and electric vehicles. Businesses…

    Article 2023年7月6日
  • Elon Musk Cautions Against Crypto Bets: What It Means for Dogecoin and the Market

    TL;DR Breakdown Elon Musk advises against making reckless bets on cryptocurrencies, signaling a shift in tone and raising questions about the future of Dogecoin and the broader crypto market. Musk’s cautionary message prompts a reevaluation of Dogecoin’s sustainability, highlighting the cryptocurrency’s dependency on his influence. In the ever-evolving world of cryptocurrency, Elon Musk’s tweets have become catalysts for both excitement and speculation. The Tesla CEO has shown a fondness for Dogecoin, a meme-inspired digital currency that gained popularity in recent years. However, in a recent tweet, Musk delivered a cautious message to crypto enthusiasts, advising against making reckless bets on digital assets. This statement has sparked conversations and raised questions about the future of Dogecoin and its impact on the broader crypto market. In this article, we delve into Musk’s remarks and explore their potential implications. Elon Musk has undoubtedly become a prominent figure in the crypto space. His tweets about cryptocurrencies often lead to significant price fluctuations, causing both excitement and concern among investors. Musk’s tweets have the power to sway market sentiment and ignite buying or selling frenzies….

    Article 2023年5月25日
  • US senators aim at SEC, call for crypto regulatory clarity amid Coinbase lawsuit

    TL;DR Breakdown Senators Cynthia Lummis and Bill Hagerty criticize the SEC for its lawsuit against Coinbase. They argue that the SEC’s “regulation by enforcement” approach lacks clarity and fails to provide a favorable regulatory environment for digital asset exchanges. Senator Hagerty accuses the SEC of weaponizing its role and criticizes its refusal to allow Coinbase to register despite approving its public listing. In a surprising turn of events, two prominent US senators have come forward to criticize the Securities and Exchange Commission (SEC) for its recent lawsuit against Coinbase, the largest American cryptocurrency exchange. The senators, Cynthia Lummis and Bill Hagerty argue that the SEC’s regulatory approach harms consumers and stifles innovation in the crypto industry. The SEC filed a lawsuit on June 6, accusing Coinbase of violating securities laws by operating as an unregistered broker, exchange, and clearing agency. The regulator also claimed that the exchange offered unregistered securities through its Staking Program, including tokens like Cardano (ADA) and Solana (SOL), without proper registration. However, Senator Lummis believes that the SEC’s “regulation by enforcement” approach is misguided and fails…

    Article 2023年6月12日
  • Australia’s CBDC still ‘some years away’, RBA warns of uncertainty

    TL;DR Breakdown The Reserve Bank of Australia (RBA) has stated that introducing a central bank digital currency (CBDC) is still years away. The RBA report also raised a cautionary note, stating that certain test cases from the pilot project illuminated uncertainties surrounding the integration of CBDC. Description The Reserve Bank of Australia (RBA) has stated that the possibility of introducing a central bank digital currency (CBDC) is still years away. The announcement follows the conclusion of a pilot investigation conducted by RBA in collaboration with the Digital Finance Cooperative Research Centre.  In a report published today, both entities outlined that the study … Read more The Reserve Bank of Australia (RBA) has stated that the possibility of introducing a central bank digital currency (CBDC) is still years away. The announcement follows the conclusion of a pilot investigation conducted by RBA in collaboration with the Digital Finance Cooperative Research Centre.  In a report published today, both entities outlined that the study has highlighted various legal, regulatory, technical, and operational challenges linked to an Australian CBDC. These challenges have been deemed worthy…

    Article 2023年8月23日
TOP