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Over 300,000 Unique Addresses Are Recorded By Ethereum Layer-2 Network Optimism

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In the last year, the Ethereum side-chain has made headlines and has set its eyes on even more ground-breaking achievements.

While many cryptocurrency investors are focused solely on major blockchains such as Bitcoin, Ethereum, Ripple, and others, other networks have quietly recorded key milestones.

Optimism, an Ethereum Layer-2 blockchain that delivers low-cost, rapid transactions, has released some of its significant achievements over the past year since its mainnet launch.

Since the network’s mainnet opened, over 300,000 unique addresses have been established on the platform, according to the Ethereum side-chain. Optimism, which focuses on providing quick and low-cost transactions to its growing user base, claims to have saved more than $1.1 billion in gas fees.

Optimism’s lower transaction costs have attracted more users, according to the project’s developer, who claims that the network has processed more than $17.4 billion in transactions since its mainnet launch.

In approximately the course of a year, over 6,800 smart contracts have been deployed on Optimism. Helping users save money on petrol taxes had no effect on Optimism’s revenue; instead, more users flocked to the site, contributing to the project’s team generating a staggering $24.5 million in revenue.

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In addition to the network’s triumphs, Optimism has grown in terms of its operations. The company reported a rise in the number of its personnel, who now number more than 40 and are strategically situated throughout the world.

Andreessen Horowitz (a16z) and Paradigm led a $175 million fundraising round for the initiative, according to the project.  

“The network has grown by leaps and bounds, and it’s only getting better by the day. Our baby has learned to walk, and it’s nearly time to run. We’re nearing the end of a chapter and the beginning of the next––one driven by community ownership and governance,” In a blog article, optimism was mentioned.

As previously reported, Optimism was among the top blockchains with the most active addresses in March 2022, including Polygon, Ethereum, Binance Smart Chain, and others.