Altcoin News: Vitalik Buterin Welcomes Major Update from Optimism (OP) Mainnet
Ethereum founder Vitalik Buterin has expressed his support for the latest update from Optimism (OP) Mainnet, which has successfully implemented a “permissionless fault proofs” mechanism. This development is a significant step towards achieving full decentralization within the platform.
The Fault Proof System, which is now live on OP Mainnet, allows users to withdraw tokens without relying on trusted third parties like central bridges. This enhancement is expected to enhance the security and autonomy of transactions on the network. Additionally, other OP Stack Chains such as Base, Mode, and Zora are set to undergo upgrades, further extending the impact of this innovative technology.
While the Security Council, or multi-sig, still maintains the ability to revert the system in case of failure or to defend against network attacks, the ultimate goal is to move towards full decentralization by decreasing the reliance on the Security Council and supporting multiple proof systems through the Proof-of-Fault System.
In line with the roadmap towards “Phase 2” decentralization, new proof systems like Asterisc and Kona will be tested, following Buterin’s strategy of gradually decentralizing Layer 2 solutions (L2s). Buterin himself has applauded this development, welcoming Optimism into the tier 1-plus tier 2 club and expressing anticipation for more L2s, particularly ZKs, to join soon.
Disclaimer: This article does not constitute investment advice. For those interested in investing in over 300 cryptocurrencies, registration with Binance exchange is available with a 20% COMMISSION DISCOUNT through this link. For exclusive news, analytics, and on-chain data, follow our Telegram and Twitter accounts.