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

  • Three Arrows Capital Founders Launch New VC Fund, 3AC Ventures, Following Bankruptcy

    TL;DR Breakdown Open Exchange (OPNX) and 3AC Ventures have announced a partnership to support projects within the OPNX ecosystem. The collaboration is focused on fostering innovation and resilience in the crypto industry, with a specific emphasis on initiatives that contribute to the decentralized future of finance. Description In a surprising turn of events, the co-founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have resurfaced with a new venture capital fund named 3AC Ventures. This move comes after the bankruptcy filing of 3AC in June 2022, which was caused by a series of leveraged trades gone wrong and the collapse … Read more In a surprising turn of events, the co-founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have resurfaced with a new venture capital fund named 3AC Ventures. This move comes after the bankruptcy filing of 3AC in June 2022, which was caused by a series of leveraged trades gone wrong and the collapse of the Terra Luna ecosystem.  The new fund aims to generate superior risk-adjusted returns without relying on leverage. Additionally, the…

    Article 2023年6月24日
  • Hong Kong and UAE set to transform cryptocurrency landscape

    TL;DR Breakdown The Hong Kong Monetary Authority and the Central Bank of the United Arab Emirates have announced their plans to collaborate on crypto regulations and financial technology development. Key topics discussed included financial infrastructure, financial market connectivity, and enhancing trade settlement across borders. This collaboration comes as the Securities and Futures Commission (SFC) of Hong Kong plans to allow virtual asset service providers (VASPs) to cater to retail investors starting from June 1. The Hong Kong Monetary Authority (HKMA) and the Central Bank of the United Arab Emirates (CBUAE) have announced their plans to collaborate on cryptocurrency regulations and financial technology development. In a meeting held on May 30, the two central banks agreed to strengthen cooperation in the areas of virtual asset regulations and advancements. The collaboration aims to facilitate discussions on joint fintech development initiatives and knowledge sharing between the respective innovation hubs of Hong Kong and the UAE. Key topics discussed included financial infrastructure, financial market connectivity, and enhancing trade settlement across borders. CBUAE Governor H.E. Khaled Mohamed Balama expressed his anticipation for an ongoing and…

    Article 2023年6月3日
  • TrueUSD reassures users of no exposure to Prime Trust amid regulatory challenges

    TL;DR Breakdown TrueUSD stablecoin project assures users of no exposure to Prime Trust as the company faces regulatory challenges. Prime Trust’s sudden suspension of deposits and withdrawals raises concerns, leaving clients’ funds stranded. TUSD’s volatility triggers fluctuations in loan markets, with borrowing rates surging, highlighting the potential for depegging scenarios. Description TrueUSD has swiftly moved to restore confidence in its dollar-backed TUSD stablecoin after Nevada-based Prime Trust, a crucial technology partner, faced regulatory hurdles. Prime Trust’s abrupt suspension of all fiat and cryptocurrency deposits and withdrawals, following state financial regulators’ orders, left many clients stranded and concerned about their funds. In response to the situation, TrueUSD … Read more TrueUSD has swiftly moved to restore confidence in its dollar-backed TUSD stablecoin after Nevada-based Prime Trust, a crucial technology partner, faced regulatory hurdles. Prime Trust’s abrupt suspension of all fiat and cryptocurrency deposits and withdrawals, following state financial regulators’ orders, left many clients stranded and concerned about their funds. In response to the situation, TrueUSD took to Twitter to reassure its users that it had “no exposure” to Prime Trust. The…

    Article 2023年6月25日
  • Digital Euro faces delay—here’s why

    TL;DR Breakdown The EU has postponed the publication of legislation supporting the digital euro following a leaked draft bill and concerns raised by finance ministers. The draft bill addresses privacy and technical issues related to the central bank digital currency (CBDC). The delay allows refinement and deliberation, allowing policymakers to address concerns and ensure the digital euro aligns with the economy’s and citizens’ needs. Description The implementation of a digital euro, a central bank digital currency (CBDC), is facing a setback as the European Union (EU) has decided to postpone the publication of the legislation required to support its development. This delay comes after a leaked draft bill addressing privacy and technical concerns regarding the CBDC and statements made by … Read more The implementation of a digital euro, a central bank digital currency (CBDC), is facing a setback as the European Union (EU) has decided to postpone the publication of the legislation required to support its development. This delay comes after a leaked draft bill addressing privacy and technical concerns regarding the CBDC and statements made by finance ministers…

    Article 2023年6月22日
  • China’s new dawn? Central bank pitches reform roadmap

    TL;DR Breakdown China’s central bank adviser suggests macroeconomic tweaks aren’t sufficient to rekindle growth; holistic structural reforms are needed. Liu Shijin emphasizes demand-side reforms like equal public services for migrant workers and supply-side changes to boost entrepreneurship in emerging sectors. Amid concerns of dwindling investor confidence, there’s a call for Beijing to ideologically and politically recognize private businesses. Description China, the colossal economic powerhouse, might be at a critical crossroads. The nation’s central bank adviser suggests that simply fiddling with macroeconomic policies won’t reignite its growth. Instead, a holistic structural reform, celebrating entrepreneurship and innovation, is the route to reviving the economic giant’s lost momentum. A Shift in Economic Winds Gone are the days … Read more China, the colossal economic powerhouse, might be at a critical crossroads. The nation’s central bank adviser suggests that simply fiddling with macroeconomic policies won’t reignite its growth. Instead, a holistic structural reform, celebrating entrepreneurship and innovation, is the route to reviving the economic giant’s lost momentum. A Shift in Economic Winds Gone are the days when Beijing had vast avenues to play with…

    Article 2023年9月26日
TOP