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Public mainnet launch for Ethereum scaling solution delayed until July

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It has been announced that Optimism, the Ethereum Layer 2 scaling solution, will delay the launch of its mainnet until at least July 2021. According to the ad official, the new release date is not certain as it still depends on the speed of the preparations. Y "Ecosystem preparation".

Modified Plans for Optimism Mainnet

Before now, mainnet deployment had been scheduled this week, according to the team behind Optimism.

“Opening the mainnet to the public is not something we can do alone, it will be a collaborative effort between us, the projects, and core infrastructure providers like oracles, wallets, nodes, and explorers. When we launch, we will launch together as a community. "

The development of the main network has been in the works since 2019 and aims to increase the transaction processing capacity of the Ethereum network and reduce its gas fees. Both will be needed as the network expands and sees more users.

A soft launch of its Optimistic Virtual Machine (OVM) took place earlier this year in conjunction with Synthetix, a decentralized exchange that will integrate this four-phase OVM solution into its platform to limit risk exposure.

According to Optimism, this effort has been a success so far, as users have enjoyed higher speeds and lower fees. By his estimate, more than $ 10 million in fees have been saved on more than 103,775 transactions.

Synthetix isn't the only platform Optimism has embraced in recent times. Uniswap, a popular decentralized trading platform, has done so as well and currently has plans to launch a version 3 (V3) L1 Ethereum mainnet in May 2021. There are also plans to launch an L2 implementation on Optimism.

The need for rollups

These types of stacks are crucial for blockchain networks, especially those as community-focused and fast-growing as Ethereum. Rollups help networks accommodate more people and work more efficiently. Considering the number of inputs the blockchain and cryptocurrency industry has experienced in recent months, the ability to process transactions faster and at a lower cost is crucial.

Even Vitalik Buterin, the founder of Ethereum, has seen them as powerful tools to scale in the short and medium term future, while more work will be needed in the coming years for the Ethereum ecosystem to mature.



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