Home CryptoCurrency News Optimistic Ethereum is Nearing Mainnet Launch, Infura Launches an Optimism API

Optimistic Ethereum is Nearing Mainnet Launch, Infura Launches an Optimism API

Optimistic Ethereum, an Ethereum Layer 2 scaling solution by Optimism, is now closing the public launch of its mainnet. The much-anticipated scaling solution is getting support from the Ethereum community as Infura launched an API for the Optimistic Virtual Machine (OVM), a soft launch version of Optimistic Ethereum.

In an announcement on Thursday, June 24th, Infura, a product by ConsenSys to provide tools and infrastructure for developers, announces that it is now live with support for the Optimism Layer 2 scaling solution as it launched an API to provide developers access to Optimistic Virtual Machine (OVM).

The launch of this API didn’t come as surprise as on June 17, ConsenSys announced support for Optimistic Ethereum. As part of this support, Consensys said that its API-focused product Infura would offer Optimistic Ethereum support for developers as an API. Furthermore, Truffle, another ConsenSys product that provides a development environment and testing framework for Ethereum smart contracts, would roll out a Truffle Optimism Box, the boilerplate structure necessary to start coding for Optimism’s Ethereum Layer 2 solution.

Truffle Optimism Box was launched on Wednesday, June 23. And now the Infura API is live that will provide all the necessary API methods for building a fully functional application on the Optimism network.

optimistic-ethereum

What is Optimistic Ethereum?

Optimistic Ethereum, the Layer 2 scaling solution developed by Optimism, uses an optimistic rollup solution to scale general smart contracts and enable instant transactions, higher total transactions, and much lower gas costs on Ethereum.

The Optimistic Virtual Machine (OVM) is an optimistic implementation of the Ethereum Virtual Machine (EVM) and is a fully-featured, Ethereum-compatible execution environment built for use in Layer 2 systems. It is a kind of soft launch version of Optimistic Ethereum.

Existing Solidity smart contracts can run on Optimistic Ethereum with minimal differences. But other off-chain codes such as user interfaces and wallets will need to update their RPC endpoints to interact with Optimistic Ethereum, and will largely just work once the update is made.

The project was initially scheduled to launch in March 2021 but delayed until July 2021 as according to Optimism, the ecosystem was not ready for the launch.

Now the much-anticipated scaling solution is closing in for the public launch somewhere in July. Uniswap is the collaborator of Optimism and according to reports, Optimistic Ethereum will first be launched on Uniswap.


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Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
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