What are Layer 2 expansion schemes Arbitrum and Optimism?
We've explained what Layer 2 and Ethereum are in previous posts, and this time we're going to analyze which of the two Layer 2 scaling schemes, Arbitrum and Optimism, is better. A lot of people compare Arbitrum and Optimism because they both use Optimistic Rollup (a Layer 2 scaling scheme), but they both have their own unique features, so we will try to look at them from different perspectives to see what their advantages are.
If you want to learn more about Layer 2, you can click on the following articles
What is Layer 2? Top Layer 2 Projects to Watch
What is Arbitrum?
Arbitrum (ARB) is an Ethereum (ETH)-based Layer 2 scaling solution developed by Offchain Labs, Inc. The ARB currency utilizes Optimistic Rollups technology, which is designed to address some of the shortcomings of the Ether host network, such as low transaction speeds, congestion, and high Gas fees.
Its main function is to move more transactions outside of the Ethernet chain (Layer 2) for validation and packaging, thus improving the scalability of the blockchain and increasing efficiency.
What is Optimism?
Optimism is an innovative Layer 2 Expansion SolutionsIt utilizes a technology called Optimistic rollups to efficiently process large amounts of transaction data and bundle it into manageable batches. This approach has made Optimism a cost-effective alternative to the Ethernet network, and is popular alongside other Layer 2 solutions such as Arbitrum.
Technical Differences
Optimism uses single round fraud proofs while Arbitrum uses multi-round fraud proofs. This means that Optimism is faster than Arbitrum, but more expensive.
As for programming languages, Optimism is limited to Solidity, while Arbitrum supports all Ethernet Virtual Machine (EVM) languages. This means that Optimism is less compatible, so engineers and developers need to spend more time and resources to move different smart contracts to the Optimism chain, while Arbitrum facilitates developers.
Total Locked Position
According to Defi's analytics platform, Defillama, Arbitrum has a higher locked position than Optimism. Arbitrum's lockup is as high as $2.962 billion, while Optimism has a lockup of $728 million. However, the level of lockup is not a positive indicator of whether a chain is good or bad. A high lockup is just a sign that the chain is used by more people, and more money in the chain can mean that the chain has a better reputation, which is why a lot of users put their money in the chain.
safety
Although Optimism is faster and more efficient, it is less secure than Arbitrunm because Arbitrum uses multi-round fraud proofs, a technique where each transaction is verified and confirmed in multiple rounds, which allows for better detection and prevention of potential fraudulent behavior. This allows for better detection and prevention of potential fraudulent behavior. Compared to Optimism's single-round verification, Arbitrum's multi-round fraud proofs provide stronger security.
Active Users
According to Dune above.DashboardArbitrum's active users are 3-4 times higher than Optimism's, and the total number of addresses for both is on the rise, proving that both chains have different audiences and target groups.
Gas Fee Charges
As shown in the Dune dashboard above, Arbitrum's highest Gas Fee is 1.68 Gwei, while Optimism's is only 0.172 Gwei (2023), so Optimism's fee is lower.
1.68 Gwei = 1.682 $ETH ^(-9) = 0.0092 $ETH
0.172 Gwei = 1.72 $ETH ^(-10) = 0.0044 $ETH
ecology
While both chains have a number of protocols and applications, the Arbitrum ecosystem is more diverse. In the NFT market, for example, more projects are issued in Arbitrum. Excluding Domain Service, Arbitrum's highest volume program, GMX Blueberry Club, has more than 1,800 ETH, while Optimism's highest volume program, Velodrome, has only 485 ETH. It is clear that Arbitrum has an advantage in the NFT market.
Let's take GameFi as an example, Arbitrum's Gamefi development is more mature, Arbitrum has different Gamefi ecosystems, such as Treasure's ecosystem, which has different games and NFT series, etc., and there are no outstanding GameFi projects in Optimism.
The above does not mean that Optimism is bad, it just means that the ecology of Arbitrum is more mature and there are more projects developed on Arbitrum, which also means that Optimism has higher potential and more room for development.
Conclusion
Both chains are very promising Layer 2 solutions, and both have different advantages and clientele. Although Optimism is generally inferior, Optimism's speed and fees are actually better than Arbitrum, so different developers will use different public chains according to their needs.
Disclaimer
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