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News

Optimism Uses The On-chain Proof Protocol EAS To Promote OP Distribution

May 5, 2023 - Around 3 mins mins to read

Key Points:

  • Optimism will use the on-chain-proof protocol Ethereum Attestation Service to promote a fairer OP distribution and community voting system.
  • Users can use this technology to prove information they believe to be accurate.
  • The technology could also support the work of the Optimism Collective by providing the group with the information it needs to distribute OPs to community members.
Optimism will use the on-chain-proof protocol Ethereum Attestation Service (EAS) to promote a fairer OP distribution and community voting system on the blockchain.
Optimism Uses The On-chain Proof Protocol EAS To Promote OP Distribution

Optimism users can use this technology to prove information they believe to be accurate. Such as whether a person built or contributed to a particular project, whether a person made a profitable transaction, etc.

This could promote fairer OP token distribution and community voting systems on Optimism. EAS’ launch aims to enable Optimism users’ to allow them to verify on-chain content that could sway how the platform’s native OP tokens are distributed and how users interact with one another more broadly.

EAS serves as the base layer for coordinating, creating, and registering unique attestation schemas. This allows for interoperability and composability between various attestation protocols and solutions, enabling the attestation layer to evolve over time.

Using EAS, users can also post a publicly accessible, on-chain record of how the collective distributes tokens. This could allow on-chain analysts to more easily understand who is receiving OP tokens and for what purpose, promoting transparency across the entire ecosystem.

Optimism Uses The On-chain Proof Protocol EAS To Promote OP Distribution

The technology could also support the work of the Optimism Collective, an entity that rewards ecosystem contributors with cryptocurrency, by providing the group with the information it needs to distribute OPs to community members who actively contribute to the blockchain.

Developers will be incentivized to build critical infrastructure on Optimism and work on other projects to improve user experience in the ecosystem.

The technology will allow developers to create innovative identity products across Optimism, and other networks such as Base, Polygon, and Ethereum.

Such a service could include products such as an aggregated rating system for DeFi users’ reputations that could assign an individual a reputation score based on other users’ attestations of their interactions with that individual.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News

EAS

OP

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Optimism Collective

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.