Learn more about the OP public chain leading project in this article! How is the development of OP chain?

As one of the important solutions for the second layer of Ethereum, OP chain has recently become a hot topic in the currency circle due to the rising price of its token OP coin. OP chain is an off-chain expansion solution, aiming to solve the dilemma and derive two directions: on-chain expansion and off-chain expansion. Currently, the progress in EVM compatibility is relatively significant, and it is also the only one in L2 to achieve EVM equivalence. rollup.

#What are the leading projects on the OP chain?

The leading projects on the OP chain are mainly UNI, OP, LINK, SNX, AAVE, etc. The following is a detailed introduction:

1, UNI

The current market value of UNI is $3.609 billion, Uniswap is the first automated market-making trading protocol built on the Ethereum blockchain. Designed to promote automatic exchange transactions between ETH and ERC20 token digital assets (any ERC20 trading pair will be supported after the V2 version is released). Uniswap is fully deployed on the chain, and any individual user can freely deposit tokens for exchange and withdraw them freely, without the registration, identity verification and withdrawal restrictions of centralized exchanges.

2. OP

OP’s current market value is US$2.08 billion. Optimism is a low-cost, lightning-fast Ethereum secondary blockchain. Optimism Ecosystem is an overview of the applications and integrations in the Optimism ecosystem. Optimism solves the actual needs of developers and users. The Optimism Foundation is a non-profit organization dedicated to developing the Optimism Collective. OP is its native governance token and is mainly used for governance protocols.

3. LINK

The current market value of LINK currency is 8.554 billion US dollars. LINK is an ERC20 standardized token based on the Ethereum blockchain, used to pay Chainlink node operators in order to move from off-chain Retrieve data from the data, format the data into a blockchain-readable format, perform off-chain computing and ensure uptime. Chainlink tokens are used as part of running nodes to protect against bad actors.

4. SNX

SNX’s current market value is US$857 million. Synthetix (formerly known as: Havven) is designed for engineers to build a decentralized and trustless network. Synthetix Network Token (SNX) token supports a variety of comprehensive assets, including: fiat currencies pegged to the US dollar, precious metals, indices and even other cryptocurrencies.

5. AAVE

The current market value of AAVE is US$1.286 billion. Aave passed the improvement proposal (AIP1) and transferred the Aave platform token LEND on October 3, 2020 (block height 10978863). Convert to AAVE at a 100:1 ratio.

Aave is an open source decentralized lending protocol that provides users with deposit and lending services. The deposit interest rates and loan interest rates of both borrowers and borrowers are calculated through algorithms based on the platform's borrowing volume and deposit volume, and the platform uses Chainlink's oracle to ensure the fairness of collateral prices.

How is the development of OP chain?

The OP chain is currently developing well. The OP chain is a Layer 2 expansion solution for the Ethereum network. It aims to solve the on-chain congestion and high gas problems of the Ethereum chain. It uses the Optimistic Rollup protocol to transfer the Ethereum master to The calculation and storage of online transactions are transferred to Layer 2 for processing and compression, and then the compressed data is uploaded to the Ethereum main network to expand Ethereum performance.

The main feature of the OP chain is to make transactions on Ethereum applications very cheap. By moving transactions from a blockchain to another blockchain, the miner fees are greatly reduced and the throughput is also reduced. increased. At the same time, it provides Ethereum developers the opportunity to use all the tools available on Ethereum without making changes.

OP chain is designed to allow users to send arbitrary messages between OP chain and smart contracts on Ethereum. This makes it possible to transfer assets, including ERC20 tokens, between the two networks. The exact mechanism by which this communication occurs depends on the direction in which the message is sent. The OP chain uses a standard bridge to allow users to deposit assets (ERC20 and ETH) from Ethereum into the OP chain, and allows the same assets to be withdrawn from the OP chain back to Ethereum. Standard Bridge consists of two main contracts: L1 Standard Bridge (for layer 1) and L2 Standard Bridge (for layer 2).

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