Optimism

Optimism MultiSig Cold Wallet

Optimism (OP) MultiSig Wallet

Download Ownbit wallet to secure your ERC20 assets now! Store OP and ERC20 tokens in Ownbit cold wallet now.

OP/ERC20 MultiSig Wallet

About Optimism (OP)

What is

Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Transactions take place on Optimism, but the data about transactions get posted to mainnet where they are validated. It’s like driving in a less crowded side street while benefiting from the security of a highway.

Features

Optimism uses a technology called rollups, specifically Optimistic rollups.

They’re called rollups because they roll up (or bundle) the data about hundreds of transactions – non-fungible token (NFT) mints, token swaps … any transaction! – into a single transaction on Ethereum mainnet (layer 1). When so many transactions are rolled up into a single transaction, the blockchain transaction, or "gas," fee required to pay comes down to only one transaction, conveniently distributed across everyone involved.

And they’re called Optimistic rollups because transactions are assumed to be valid until they are proven false, or in other words, innocent until proven guilty. There’s a time window during which potentially invalid transactions can be challenged by submitting a “fraud proof” and running the transactions’ computations with reference to available state data. Optimism reimburses the gas needed to run the computation of the fraud proof.

Recovering

Different wallets may implement Optimism support (generating OP address) in a different way. Ownbit uses uses the same address of ETH for OP address. i.e. BIP44 path: m/44'/60'/0'/0/0 for generating the OP address. For recovering ETH / ERC20 assets in other wallets, or vice versa, you may export / import by ETH private key.

Website

https://optimism.io/