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Weekly insight into blockchains and Web3 apps<\/h2>\n

Optimism has already saved its users over $1 billion in gas fees and handled millions of transactions. Its usage has steadily increased since removing its whitelist and becoming fully open for deployment. Optimism is the only EVM equivalent Layer 2, meaning developer tooling \u2018just works, and all it takes is one click to deploy dapps.\u00a0<\/strong><\/p>\n

If you\u2019re looking for the next Spotify, Google, or Amazon on the blockchain, DappRadar can help with our weekly Dapp Trends articles. With so much happening across various categories and verticals, it\u2019s crucial to know which blockchains, dapps, and NFT projects generate value and build audiences for the right reasons.\u00a0<\/p>\n

Moreover, Ethereum Layer 2 solutions have seen a massive leap in traction and utility in 2021 and 2022. TVL across L2 platforms went up 130% in ETH terms since the beginning of this year.\u00a0<\/p>\n

There are arguably three leading platforms in this Layer 2 race, Loopring, Arbitrum, and Optimism. This week we shine a light on Optimism, its ecosystem of dapps, and significant milestones.\u00a0<\/p>\n

Optimism is an Optimistic Roll-up, a fancy way of describing a blockchain that piggybacks off another parent blockchain\u2019s security. In this way, Optimism possesses all of the benefits of the leading blockchain Ethereum, such as decentralization and security, with none of its drawbacks, such as high gas fees and slow execution.\u00a0<\/p>\n

Check out the most popular dapps on Optimism in our rankings<\/em><\/strong><\/p>\n

What is Optimism Network?\u00a0<\/h2>\n

Optimism is a Layer-2 scaling solution for Ethereum called an Optimistic Roll-up, or ORU. An ORU solves Ethereum\u2019s scaling dilemma by moving bulky transaction data off the main blockchain while retaining the security guarantees of Ethereum\u2019s base layer.\u00a0<\/p>\n

Moreover, Optimism is the only EVM equivalent L2, meaning developer tooling works straight away. It takes one click to deploy dapps to the network, helping projects find new audiences on multiple chains.\u00a0<\/p>\n

One particular category of dapp that\u2019s found success over Optimism has been DeFi and token exchanges. Primarily the experience on Optimism mirrors that on Ethereum, but the fees are far lower. Currently, 41 of the 60 dapps on Optimism tracked by DappRadar sit in the DeFi and Exchange categories, clearly showing the network\u2019s intentions as a viable alternative to Ethereum for DeFi.\u00a0<\/p>\n

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