What Is OP Coin and How To Buy OP Coin?
What Is OP Coin？
OP coin is a highly anticipated airdrop of Optimism. Optimism is a low-cost and lightning-fast Ethereum L2 blockchain. Optimism is a layer two protocol and smart contract platform that aims to enable low-cost and near-instantaneous Ethereum transactions. Optimism is announcing a new type of community designed to reward public goods and build a sustainable future for Ethereum.
The OP coin powers the Token House, which will be a division of the Optimism Collective alongside the Citizens' House. The Collective governs network parameters, treasury disbursements, and protocol upgrades.
OP Coin has a current supply of 2,473,656,068.61204 with 1,858,984,784.12044 in circulation. OP coin is one of the biggest scaling solutions for Ethereum with over $300 million in TVL. It is home to 35 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP coin. OP coin was so popular that it briefly slowed down the Optimism blockchain.
What Makes Optimism Unique?
Optimism aims for the minimum number of moving parts while building a layer-two solution for Ethereum. In practice, this means using proven Ethereum code and infrastructure when possible. Optimism thus aims to keep its code as simple as possible and work directly with existing codebases.
The ecosystem further emphasizes pragmatism and is driven by the real-world needs and constraints of its own team and the users engaging with the ecosystem. Hence, Optimism aims to build iteratively and implement features like EVM equivalence gradually.
Optimism's design process is built around the idea of long-term sustainability and not taking shortcuts to scalability. That is why it uses optimistic rollups and takes advantage of the consensus mechanism of Ethereum to scale the network. Blocks are constructed and executed on the L2 (Optimism), while user transactions are batched up and submitted to the L1 (Ethereum). The L2 has no mempool, and transactions are immediately accepted or rejected.
Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a certain period of time (currently seven days). After that, a transaction is considered final. That is why withdrawals from Optimism to Ethereum take seven days to complete.
How To Buy OP Coin?
To trade OP Coin, you need a reliable exchange such as Binance, Bitfinex, Coinbase and FTX.