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Friday, September 25, 2020

OPTIMISM, ETHEREUM SCALING STARTUP RELEASES LIMITED NETWORK TESTNET


 

Optimism, an Ethereum scaling startup that is building Layer-2 solutions using a tool called optimistic rollup, recently released a limited testnet.


Optimism chose this gradual release process. In the future, the network will be integrated with a small number of decentralized applications (dApps), one by one, in stages with the aim of finding the best way to suppress existing bugs.


The first dApp to be integrated with Optimism's limited testnet is the decentralized crypto asset exchange, Synthetix. More than that, the exchange will also reward users who test the Oprimism network with 200,000 SNX tokens or the equivalent of IDR 13 billion.


This step is also a good opportunity for Optimism before actually launching their own mainnet. Furthermore, other platforms that will test the Optimism network are the decentralized exchange UNISWAP and Chainlink.


Optimism Network Launch Stages


Optimism releases the testnet in four stages: Phase A, Phase B, Security testing, and Phase C.




In phase A, only Goerli L2 token airdrop transactions will allow participants to mint and burn sUSD (Stablecoins from Synthetix), and claim staking prizes.

Furthermore, in phase B, new deposits will be activated. After that is done, there will be an L1 Goerli SNX airdrop to participants who take part in this test. Later, users will be able to upgrade the SNX they have taken after they make a deposit.

In the network security test phase, the Optimistic Virtual Machine (OVM) contract will be upgraded to add verification capabilities.

"We will actively commit fraud and reward users who successfully submit evidence of fraud," said Optimism.

The last stage, the withdrawals feature will be activated and participants must successfully make withdrawals to be able to receive their testnet prizes on the mainnet network.


  There is no definite schedule related to the launch of the testnet and also the stages of the process.

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