"No matter what, you have to get ready and do more detailed research."
Optimism, the Ethereum (ETH) scaling solution launched by the Security Council has revealed several factors that are capable of pushing the cryptocurrency it founded OP to climb high.
Here is the list:
Dencun Ethereum Upgrade
The upgrade, which was launched in March 2024, is important for Optimism as it will reduce the data requirements to maintain the ETH-based layer-2 chain.
Dencun will reduce the cost of transactions processed through blockchain layer-2 and make Optimism more cost-effective for users.
May further increase the demand for Optimism in the crypto ecosystem.
Delta Upgrade
Launched on February 22, 2024, the Delta upgrade will activate Span Batches for OP Mainnet and all other OP Chains
Span Batches is a feature that makes technical changes to the blockchain to reduce layer-1 costs by 97% for inactive chains.
Can increase OP's popularity among developers and community thus driving demand for OP in new Web3 projects.
OP Decentralization
Collective launched Security Council on February 9, 2024 then established 2/2 multisig authorized to sign protocol upgrades for OP mainnet.
The two signatories are the Optimism Foundation and the Security Council.
Optimism will advance decentralization on a technical, social and governance basis to re-achieve the decentralization Stage 1 achievement outlined by Vitalik Buterin in the 2022 roadmap.
Farcaster Migration To OP Mainnet
Project application and smart contract related to the migration of ETH to the popular layer-2 chain.
A key aspect of Optimism as the OP mainnet has seen a huge increase in active addresses with the arrival of applications such as Worldcoin and Farcaster.
User activity on Optimism increased significantly with the use of the two popular applications driving the OP mainnet to the top 60% of daily active addresses in Optimistic Rollups.
Unlock OP Tokens
A total of 24.16 million OP tokens worth $85.28 million will unlock on February 29, 2024 and if the trend repeats, the OP price could plummet in the week following the token unlock in March 2024.
