1inch crypto platform announces integration to 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)

1inch, aggregating platform for decentralized brokers (DEXs), which obtains liquidity from several brokers, if integrated The Optimism Ethereum (OΞ), a solution of scalability in second layer.

Scalability” refers to the ability of a system or network to expand in order to increase transaction speed and solve challenges faced by large blockchains.

“Second layer” is a secondary structure created on top of a system blockchain (first tier), where the main goal is to be more scalable and robust.

O integration goal 1inch is to lower gas fees — paid to miners from the Web Ethereum for its task in 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 when an optimized version of its production net is launched, said Anton Bukov, co-founder of 1inch, to The Block.

However, at the moment, the processing rate of Optimism Ethereum is limited to 0.6 TPS. This limitation prevents possible risks and failures during the alpha stage of development, explained Bukov. Currently, Ethereum is capable of approximately 15 TPS.

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

The reduced gas rates are made possible by the Optimistic network architecture, which only needs to transfer compressed state changes to the first layer (L1) and does not have to pay for calculations in L1.

Now 1inch users can start migrating assets to the Optimism Ethereum network through the tool Optimism Gateway, second to 1inch. The network supports several 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 arbitum and zkSync.

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