Cryptocurrencies are digitally mined, where very sophisticated computers solve extremely complex computational mathematics problems. They carry a pre-determined store value of their own, just like any other fiat currency like the US dollar or the Indian rupee. They are tokens that can be used as a form of payment in exchange for online goods and services. However, they are often criticised for the possibility of misuse in illegal activities, exchange rate volatility and the vulnerability of the infrastructure underlying them.Ĭryptocurrencies work using a technology called blockchain.
#Op cryptocurrency free
Plus, the digital structure facilitates free portability across geographical borders, divisibility and transparency. Because cryptocurrencies do not have an underlying economic base, they are inflation-proof. Such currencies, theoretically, are immune to government interference or any kind of manipulation. They are built on the blockchain network technology, which ensures transparency and helps track every transaction. Cryptocurrencies are decentralised, meaning that no authority regulates them. They have their own store values, and are designed to use as a medium of exchange for buying goods or services. Cryptocurrency is a digital or virtual coin secured by cryptography, which makes it next to impossible to counterfeit. The big difference is, here there is no owner-issuer and it would, at least in theory, be accepted globally. Optimism price as on Aug 01, 2023, 05:59 AM was Rs 132.78.Įver received a paper token from your next-door paan shop in lieu of a small change, which he would accept the next time you visit him? Imagine that token digitally, and that's your cryptocurrency. Recall that you can see the live Optimism price on the aforementioned chart.Optimism is down by -0.17%.
Moreover, 19% was set aside for airdrops, 5% was dropped during the initial airdrop, and 14 % were set aside for future drops. 25% of the tokens are held in the ecosystem fund, 19% went to investors, another 19% were allocated to the key players in the ecosystem, and 20% were dedicated to retroactive public goods funding. Optimism has a total supply of over 4.2 billion OP tokens. Ho is well versed in multiple machine languages and was formerly employed by Hacker (a blockchain protocol development company) before joining forces with Wang to create Optimism. He has experience with blockchains and a degree in computer science. Kevin Ho is the co-founder and product protocol manager at Optimism Development Lab. Jinglan holds a top position among leading women in the industry. She is a blockchain scaling solution expert who also serves as an angel investor and is on the advisory board of numerous blockchain technology companies. Jinglan Wang is the CEO and the founder of Optimism. The Optimism crypto project was founded by Jinglan Wang and Kevin Ho. If you plan to purchase Optimism coins, make sure to make a thorough analysis of the OP price. This means that OP holders have voting powers that enable them to vote on various matters.īesides that, OP coins are also used in the reward mechanism of Optimism to incentivize those building in the ecosystem, as well as those who contribute in any way possible. Holders of the Optimism token (OP) are a part of the governance system of the network. You can find both – the current and the previous OP price on this chart. Take a look at the Optimism price chart above. The core technology utilized by the network is called Optimistic rollups.īesides, Optimism has its own native token called OP. Using this method is like traveling on less congested side roads while still receiving protection from traceability of the journey. This L2 chain works in tandem with the mainnet – transactions take place on Optimism but are validated via the data posted onto the mainnet. It provides additional features to the existing Ethereum software, allowing dApps to scale on Optimism at a fraction of the cost as compared to when they run on the Ethereum mainnet. Optimism is a fast, reliable, and expandable Layer 2 blockchain designed by Ethereum developers.
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