Synthetix on L2 is a demonstration of the power of Layer 2 for Ethereum--Web2 UX, Web3 features, and a backend ready for mass adoption. With Optimistic Ethereum, this power comes to the fingertips of any Ethereum dApp with just a few lines of code.
Optimistic Ethereum is a layer 2 scaling solution powered by The Happy Stack: the OVM [link to OVM explainer] running on ORU [link to ORU article]. Together, the two make for web3 magic.
Optimistic Ethereum is the Ethereum you know and love--just with:
Instant cryptoeconomic confirmations
Orders of magnitude better cost & throughput.
Support for native meta-transactions/account abstraction
No painful gas UX
Full EVM support--any Ethereum dApp works with just a few lines of code
No moon math. (SNARKS, STARKS, etc.)
Not a sidechain. (Data availability on ETH 1.0)
Smart contracts (Generalized, interoperable)
Simple infrastructure. (No consensus)
ETH 1.0 (today): ~200 tps
ETH 1.0 (optimized): ~2,000 tps
ETH 2.0 (sharded): 2,000 * # of shards
Yes. Data availability on mainnet Ethereum guarantees anyone can challenge invalid transactions.
Layer 2 deposits and withdrawls. Instead, we airdrop testnet tokens to your wallet.
Alpha code and documentation for the OVM can be found here! It's not ready for mainnet yet... but stay tuned!