Dex Aggregator 1inch to use optimism of Ethereum scaling solution – bitcoin tech news

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On August 17, the decentralized exchange (dex) aggregator 1inch announced that the platform would take advantage of the Layer 2 solution called optimistic rollups provided by Project Optimism. The collaboration with Optimism aims to “dramatically increase transaction speeds and reduce gasoline costs for users by 1 inch.”

1 inch to use the optimistic totals of the L2 solution via Optimism Gateway

Since the Ethereum network faces transaction congestion and much higher fees in 2021, innovations revolving around Layer 2 (L2) and side chain scaling solutions have been brought to the forefront. plan of conversations. For example, side chains such as Binance Smart Chain (BSC) and Polygon (formerly Matic) have been used to avoid high ether gas charges. Other concepts include protocols that are not as proven as the major side chains, but that promise to reduce ether charges and network congestion.

A specific concept called “optimistic clusters” has been a very popular L2 solution and two teams are looking to provide the solution to the general public. Arbitrum and Optimism are the two main projects that have developed optimistic cumulative solutions. Bitcoin.com News reported on the upcoming launch of Arbitrum this month and Arbitrum One, which will provide users with real-time information on all blockchain projects using Arbitrum. Additionally, Bitcoin.com News reported on Reddit’s decision to also use Arbitrum for the company’s community tokens.

Co-founder of 1inch: Optimistic Ethereum is a very promising L2 solution focused on scalability

A number of projects will also take advantage of the solution offered by Optimism, as the dex 1inch aggregator explained on Tuesday, the protocol would use Optimism’s optimistic stacking technology. On the Optimism web portal, the project notes that Uniswap uses the project’s solution and that users can access a gateway from the website. 1inch’s announcement on Tuesday explains that the goal is to increase transactions and lower fees for 1inch users. 1inch co-founder Sergej Kunz is a fan of optimistic stacks and highly praised Ethereum’s L2 solution.

“Optimistic Ethereum is a very promising scalability-focused L2 solution, and the 1-inch launch on Optimistic will facilitate a dramatic increase in transaction speed,” Kunz noted during the announcement. 1inch clarified that the initial throughput offered by Optimism will allow 0.6 transactions per second. “However,” said the 1inch team. “Trading on Optimistic is expected to accelerate as the project team tests and optimizes its infrastructure as part of a strategy to create a low-cost, high-speed solution ideally suited for DEX trading. “

How do you feel about choosing the dex 1inch aggregator to take advantage of the optimism and optimistic rummages? Let us know what you think of this topic in the comments section below.

Keywords in this story 1 inch, 1 inch co-founder, 1 inch DEX, Arbitrum, DeFi, DEX aggregator, ETH, Ethereum, L2, layer 2, Optimism, optimistic rollups, Sergej Kunz

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