Buy Optimism (OP)
What is Optimism?
Optimism is a Layer-2 scaling solution for Ethereum designed to enhance Ethereum's performance by processing transactions off-chain using Optimistic Rollups. This approach aims to increase transaction throughput and reduce costs while maintaining security by submitting all transactions to the Ethereum mainnet for validation.
How does Optimism work?
Optimism uses Optimistic Rollups, a technology that processes transactions off the main Ethereum chain and assumes they are valid, only verifying them if a dispute arises. It relies on the Proof-of-Stake (PoS) consensus mechanism, inherited from Ethereum, and is compatible with the Ethereum Virtual Machine (EVM) through the Optimism Virtual Machine (OVM). This compatibility allows developers to migrate and operate Ethereum dApps seamlessly.
What are the potential use cases for Optimism?
Optimism's potential use cases include participating in its governance system, paying transaction fees, and contributing to public goods funding. It supports real-world applications like custom location services and Layer-2 networks for recurring public goods funding. Optimism is also used in sectors such as institutional decentralised applications (dApps) and blockchain interoperability to enhance connectivity and data accessibility.
What is the history of Optimism?
Founded by Jinglan Wang, Karl Floersch, and Ben Jones in 2019, Optimism was developed to address Ethereum's scalability concerns. Key milestones include the launch of its first public testnet in October 2020, its mainnet launch in March 2021, and the transition to the Optimism Foundation later in November 2021. The platform continues to evolve, with major updates like the scheduled Granite hard fork.
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Frequently Asked Questions (FAQs)
What is the current price of Optimism (OP)?
The Optimism price is $3.0285 AUD, representing a +12.66% from the day prior.
Where is the best place to buy Optimism (OP) in Australia?
The best place to buy Optimism (OP) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Optimism (OP) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Optimism (OP)?
The trading volume of Optimism (OP) is $1.0B AUD in the last 24hrs, representing a +12.66% from the day prior.
How can I buy Optimism (OP)?
Optimism (OP) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Optimism (OP)?
The current market cap of Optimism (OP) is $4.1B AUD.
Can I convert Optimism (OP) to cash?
Yes - With Coinstash you can convert your Optimism (OP) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Optimism (OP) are there?
The current circulating supply of Optimism (OP) is 1.4B.
Is Coinstash a safe place to buy Optimism (OP) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Optimism (OP) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.