1 inch crypto platform announces integration with Optimism Ethereum – Money Times solution

The 1inch Aggregator is now available in four blockchains: Ethereum, Binance Smart Chain, Polygon and Optimism (Image: 1inch Network / Blog)

1 inch, Aggregation platform for decentralized broker (DEXs), whereby liquidity from multiple brokers, though integrated the Optimism Ethereum (OΞ), a solution to Scalability in the second shift.

Scalability“Refers to the ability of a system or network to expand in order to increase transaction speed and solve the challenges of large blockchains.

“Second Layer” is a secondary structure that is created on a system blockchain (first stage), with the main goal being to be more scalable and robust.

Ö Integration goal 1inch is supposed to lower gas charges – paid to miners from the web ether for its job of securing the blockchain – and increasing the processing rate or number of transactions per second (TPS) for users.

More specifically, Optimism Ethereum will be able to process two thousand TPS if an optimized version of its production net is started, called Anton Bukov, Co-founder of 1inch, to The Block.

Currently, however, Optimism Ethereum’s processing rate is limited to 0.6 TPS. This constraint prevents potential risks and failures during the alpha phase of development, said Bukov. Currently, Ethereum is able to hit around 15 TPS.

Regarding the reduced gas prices at Optimism Ethereum, Bukov said there will be two to ten times savings compared to Ethereum:

The reduced gas tariffs are made possible by the optimistic network architecture, which only has to transmit compressed status changes to the first layer (L1) and does not have to pay any calculations in L1.

Now 1 inch users can start migrating assets to the Optimism Ethereum network through the tool Optimism gateway, second to 1 inch. The network supports multiple wallets, including the MetaMask.

With the expansion of the Optimistic Ethereum network, 1inch is available in a total of four blockchains: Ethereum, Binance Smart Chain (BSC) and Polygon (formerly known as Matic Network).

Bukov says 1inch wants to be integrated with more blockchains – including Solana, avalanche, TRON, NEAR, xDAI – in addition to other second-tier solutions such as any and zkSync.

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