BitGo is pleased to announce support for OP, the governance token of Optimism. Clients can now custody OP in Hot, Custodial, and Self-Managed Cold wallets.
What is Optimism?
Optimism extends Ethereum, offering users and developers the opportunity to leverage Ethereum’s robust security assurances at a reduced cost and faster pace. According to Optimism, it is a swift, reliable, and scalable Layer 2 (L2) solution crafted by Ethereum developers specifically for the Ethereum community.With an architecture equivalent to Ethereum Virtual Machine, Optimism ensures seamless scalability for Ethereum applications without unexpected hurdles. Dedicated to fostering a sustainable ecosystem, Optimism prioritizes retroactive public goods funding, scaling Ethereum’s current capabilities to secure funding for its future growth.
What sets Optimism apart?
Optimistic Rollups, that bundle hundreds of transactions into one and offload traffic from the ETH mainnet onto the L2 chains, is a feature that sets it apart. This is important as ETH still faces some limitations such as slow transaction speed and high gas fees. Optimistic Rollups work on the principle of optimistic execution, meaning it assumes that transactions are valid unless proven otherwise. This allows for faster transaction processing off-chain, with the ability to revert any invalid transactions on-chain if necessary.As a result, decentralized applications become more usable and scalable by reducing transaction costs and increasing throughput. This is why it has gained significant attention within the Ethereum community as a potential remedy to the network’s scalability issues.While some Rollups offer source availability, Optimism sets itself apart by providing open-source code under the MIT license. Its specifications are crafted to integrate with Ethereum, ensuring that everything operates identically to Ethereum right from the start. This enables developers to dive into innovation on Optimism without the need to learn new programming languages or extensively modify their existing codebase.
Does this launch include other tokens?
With the launch of the OP token, we’ve also added support for more tokens, including:
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Optimism Ethereum (OPeth): Bridged ether tokens on Optimism
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ChainLink (Opeth:Link)
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USDC: Can be added to Opeth wallet
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USDT: Can be added to Opeth wallet
Get started today
On the BitGo platform, builders and investors can now use and create fast, safe, and user-friendly services for OP.Click here to learn more about availability.Interested in building with OP? Review our developer docs.
About BitGo
BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.
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