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Executive Summary

Optimism is a Layer 2 (L2) scaling solution designed to address the challenges of Ethereum’s scalability. Optimism develops and operates OP mainnet, an optimistic-rollup L2 that extends the throughput of Ethereum by batching compressed transactions periodically to Ethereum and amortising the cost among many users.

Optimism strives to be as compatible with Ethereum as possible and extend its functionality. Optimism is experimenting with a novel governance model that may also improve the efficiency of protocol development funding. The adoption of the OP Stack (Optimism’s rollup technology) by other L2s is promising for the future of Optimism and its ecosystem.


Performance

Performance vergleichen

Marktkapitalisierung

2.697.936.975 USD

Verwässerte Kap.

11.899.748.960 USD

Volumen

203.326.531 USD

Sharpe Ratio

0,9341

Excerpt from the Report

F5 Crypto

3 Technology

Optimism’s L2 network is called OP mainnet and is built using optimistic roll-up technology. The current implementation is known as Optimism Bedrock. A roll-up, in the context of blockchain architecture, is a blockchain that derives its security from a parent chain. In Optimism’s case, the parent chain is Ethereum. Optimism posts and stores block data on Ethereum in a compressed form, thereby saving costs while benefiting from the high level of security.

The optimistic component of the technology assumes by default that submitted transactions (TXs) are valid and correct. It is only through the witnessing of a fault proof after a block is published that an invalid TX has its on-chain commitments invalidated. By leveraging the security of the parent chain and the efficiency gains from compressing TXs, the cost structure and scalability of an optimistic roll-up are meaningfully improved.

3.1 Block Production

In Optimism Bedrock, blocks are produced every 2 seconds. Bedrock relies on a single entity for block production, called the Sequencer. The Sequencer is owned and operated by the Optimism Foundation and currently represents a semi-trusted role in the Optimism technology stack.

The Sequencer is an Optimism node which:

  1. sequences TXs and constructs L2 blocks,
  2. provides TX confirmations and state updates, and
  3. submits user TXs and state commitments to Ethereum.

The Sequencer’s two roles are acting as batcher and proposer. The batcher role consists of ordering and compressing a set of recent TXs, then posting this data to Ethereum. Proposing is the process of posting commitments about the L2 state after applying the batched TXs to the most recent state. In the event that the Sequencer is compromised, the chain could censor TXs that the batcher simply ignores. The flow of TXs on Optimism can be seen in Figure 3.


Unser Recherche-Team

Prof. Dr. Hermann Elendner Porträtbild
Prof. Dr. Hermann Elendner
Prof. Dr. Hermann Elendner
CSO, Fonds-Manager
  • Krypto seit 2012
  • Professor mit 30 Jahren
  • Blockchain-Vorlesungen
  • Entwickler Krypto-Index
Paul Otto Porträtbild
Paul Otto
Paul Otto
CIO, Fonds-Manager
  • Bitcoiner seit 2013
  • studiert alle BIPs
  • Kryptographie-Experte
  • Vortragender zu Krypto-Themen
Christian Musanke Porträtbild
Christian Musanke
Christian Musanke
CTO, Fonds-Manager
  • Krypto seit 2015
  • Krypto-Unternehmer
  • Akad. Krypto-These
  • Fundamentalanalysen

Das Rercherche-Team von F5 Crypto ist einzigartig in Deutschland. Durch seine interdisziplinäre Expertise, kontinuierliche Forschungsarbeit und exzellente Leitung wird Recherche-Qualität auf institutionellem Niveau sichergestellt. Unterstützt wird das Recherche-Team durch die Fondsmanager des hauseigenen BaFin-registrierten Krypto-Fonds “F5 Crypto Fonds 1“.