Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Optimism’s Optimistic Virtual Machine (OVM) potentially represents a monumental leap forward for Layer 2 solutions. In this article, we’ll take a closer look at what Layer 2 solutions are, why they’re so important, and why Optimism and their Optimistic Virtual Machine could constitute such an important breakthrough for Ethereum. In essence, the OVM environment theoretically allows developers to move their smart contracts onto this quicker and less expensive solution with only a few lines of code.
That's good news for anyone involved in Ethereum. But before we get into everything it does, let's look at why the Optimistic Virtual Machine (OVM) is even necessary.
First off, there has never been more usage and excitement surrounding Ethereum than at this moment in its history. Cumulative transaction fees surpassed Bitcoin in 2020, Ethereum gas fees have seen historic highs recently, and presently, Ethereum is on top regarding daily transaction fee revenue. Even ...