Pocket Network and Optimism Align on Values, as Millions of Data Relays are Serviced

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POKT Network
Nov 20, 2023
Pocket Network and Optimism Align on Values, as Millions of Data Relays are Serviced

Pocket Network has recently announced support for Optimism, a Layer 2 network making its way to the top of the DeFi world by bringing out the full capabilities of Ethereum. Optimism is focused on offering a clean and attractive experience for users and developers at a low cost and with lightning-fast speeds. Discover more about Optimism, its exponential growth, use-cases, and how Pocket is working with the chain.

Building Public Goods in a Decentralized Environment

Optimism’s philosophy is to produce infrastructure that “promotes the growth and sustainability of public goods” under Ethereum.The concept of public goods in crypto resonates with Pocket, as we envision Web3 as a new standard built upon freedom for all people interacting with it. The fulfillment of Web3 as a new internet, open and accessible to everyone, is a prime public good that can move us towards the values of liberty, opportunity, and creativity.

Premium UX with Lightning-Fast Speed and Cost Efficiency

The Optimism Foundation is working to develop its collective based on several key pillars:

  • Security
  • Permissionlessness
  • Decentralization

Optimism is focused on being the simplest and easiest blockchain to deploy applications in a decentralized environment. Besides offering an easy UX for users and simplicity for developers, Optimism does it on a large scale, with low costs and superior speed.All while being Ethereum Virtual Machine (EVM) equivalent, enabling developers to launch Ethereum-ready applications seamlessly.

From 0 to Roughly 500K Daily Transactions in Six Months

The Optimistic Rollup launched in June 2019, with the full Mainnet release happening at the end of 2021 (December).Optimism went from zero to a record of roughly 500,000 daily transactions in six months, while the average daily number of transactions sits around 100,000 of late.The growth in the Optimism ecosystem is clear, with the number of unique addresses crossing 1.2 million in slightly over seven months since Mainnet launch.One of the biggest selling points of Optimism is the low-cost environment for developers to build popular applications. According to the project, Optimism has saved over $1 billion in gas for users.As a native Web3 project, Optimism is a revenue-generating protocol, boosting its development while rewarding all parties. Given its surge in recent months, the protocol is currently at a $6.38M annualized total revenue, according to Token Terminal.

From DeFi to DAOs, a Vibrant Ecosystem of Applications

The Optimism community and ecosystem of solutions are booming, from key infrastructure tools like wallets, to portfolio trackers, DeFi tools, NFTs, and DAOs.According to DeFi Llama, Optimism is currently the 14th largest chain in the DeFi ecosystem, representing over $430M in Total Value Locked (TVL) in the network. In the entire DeFi world, Optimism is the 10th largest ecosystem based on the number of protocols working under it.The ten biggest projects on Optimism include Synthetix, Velodrome, Uniswap, Perpetual Protocol, AAVE, Curve, Stargate, Beefy Finance, Beethoven X, and QiDao.The list of impressive applications doesn’t end there, with more applications across verticals bridging into Optimism to build a new suite of solutions in a decentralized world.

Pocket Supports Millions of Daily Data Relays for Optimism

Pocket announced support for Optimism on June 13th, serving the ecosystem’s growing collection of fast and scalable applications under Ethereum.The community around Optimism was eager to try Pocket, leading to a milestone of 1 million daily relays serviced in the first week of support. In fact, at the time of writing, Optimism has generated more than 7 million daily relays on Pocket Network in 3 consecutive days.This enthusiastic start from the Optimism ecosystem has placed Optimism as a top 15 chain in the Pocket sphere in no time (in terms of daily relays serviced).If you’re a developer building on Optimism, and looking to serve blockchain data to your users with constant uptime and high speeds, you can read up on how to create an endpoint on the Pocket Portal here.

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