Optimism Integrates Ethereum Block Explorer Etherscan On the Layer Two Platform
Ethereum's popular block explorer Etherscan has been integrated into the Optimistic Ethereum layer-two platform. This was made known by Optimism in a post yesterday.
What Optimistic Ethereum's Etherscan Collaboration Means For Users
According to Optimism, the new collaboration with Etherscan is a major milestone for usability on Optimistic Ethereum and would benefit users in many ways.
The Etherscan integration would make highly technical information about Ethereum easily searchable and human-readable., according to Optimism.
In addition, Optimistic Ethereum users can now monitor deposits and withdrawals alongside view when L2 transactions are pre-confirmed and when they have been posted and finalized in batches on L1.
Users would also be able to verify and publish the source code of OVM-compiled contracts and others. The announcement added that the withdrawal completion feature would be added on L1 soon.
Etherscan is a leading block explore and analytics platform for the Ethereum network. The platform allows customers to search and easily look up Ethereum transactions. The platform exists as an independent entity and is not funded or operated by the Ethereum Foundation.
The DeFi project, known as a liquidity protocol for synthetic assets, had been running on Optimism's testnet for several months before it was launched on the L2.
Going forward, Optimism intends to integrate more protocols to enable liquidity transitions to this new L2 infrastructure.
Optimism Thriving On the Back of Ethereum's Scalability Issues
The Ethereum blockchain has had its scalability problem for years. Most times, transactions take forever to clear, and gas fees could be incredibly expensive. For savvy investors building massive projects to be used by the masses, Ethereum isn't quite ready.
This has given rollups like Optimism the avenue to thrive. Optimism is a Layer 2 solution that keeps transaction data on-chain but runs computation off-chain, thereby saving fees and increasing transactions per second. Since computation data stays on Ethereum, this scaling solution doesn't sacrifice or tamper with Ethereum's security.
Optimism was scheduled to launch its mainnet before April 2021, before pushing it forward to July. According to the team, there are too many risks involved in rushing its layer-two scaling solution too early. It highlighted the need to further educate DApp developers on how to launch projects on the network.