A red-hot Ethereum (ETH) scaling answer printed a contemporary all-time excessive on Thursday after a brand new protocol improve proposal.
Optimism (OP) reached a peak of $3.10 on Thursday, the token’s new all-time excessive (ATH).
OP has since retraced to $2.81 at time of writing, however the 81st-ranked crypto asset by market cap remains to be up 1.76% prior to now 24 hours and practically 32% prior to now seven days.
OP’s current value motion kicked off after the Optimism Basis proposed the primary protocol improve to the Optimism Collective.
The Optimism Basis has proposed the primary protocol improve to the Optimism Collective: Bedrock. ???
See the complete proposal right here: https://t.co/ulJcbGKFsk
— Optimism Governance (@OptimismGov) February 1, 2023
The improve, named “Bedrock,” is a “full rewrite of the core elements of the Optimism structure,” in keeping with Ben Jones, the director of the Optimism Basis.
“This improve affords a brand new stage of modularity, simplicity, and Ethereum equivalence for layer 2 options, offering unprecedented efficiency and performance…
Along with these technical enhancements, the Bedrock improve is a major step in the direction of the multi-chain future. By making a shared customary, the OP Stack 24, Bedrock units the stage for a Cambrian explosion of aligned L2s [layer 2s]. This is a chance for management within the Ethereum ecosystem.”
Optimism’s complete worth locked (TVL) has additionally gone up greater than 4% prior to now 24 hours, in keeping with the decentralized finance information tracker DeFi Llama.
The TVL of a blockchain represents the full capital held inside its sensible contracts, and it’s calculated by multiplying the quantity of collateral locked into the community by the present worth of the property.
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