1inch announces implementation of Optimism’s Layer 2 solution

The decentralized trade aggregator 1inch has introduced an implementation within the mainnet of Optimistic Ethereum (OE), which highlights a big discount in transaction charges and consumer affirmation delays.

“The introduction of 1inch on Optimism will enable a significant increase in transaction speed,” stated Sergej Kunz, co-founder of 1inch Network.

While deposits made through the OE community are credited virtually instantly, withdrawals require a ready interval of 7 days. It is predicted that this ready time will enhance sooner or later when the fast withdrawal service is activated.

At the beginning, the OE community can solely course of 0.6 transactions per second. However, the group expects to regularly enhance transaction velocity after testing and optimizing the infrastructure. The replace will probably be appropriate with most Ethereum wallets, together with MetaMask and WalletConnect.

Optimistic Ethereum is a Layer 2 scalability solution developed by the Optimism group. The Optimism Team is a public curiosity firm researching scalability options on the Ethereum community. The OE solution itself is an EVM-compatible optimistic synthesis chain.

1inch is not the one trade that integrates Optimism’s Layer 2 solution. On July thirteenth, AMM Uniswap deployed the alpha model of the V3 trade on the identical optimistic Ethereum mainnet.