- Optimism Network was founded in 2019 by Benjamin Jones, Jinlang Wang and Kevin Ho.
- Optimism’s nucleus is OVM, which is inspired by the Ethereum Virtual Machine (EVM)
Optimism Network has proved to be a path-breaking game changer in the Ethereum landscape. It has managed to provide scalable solutions and has also enhanced the overall security of dApps (decentralized applications). This article will delve deep into three outstanding projects on the Optimism Network
Forta Network
Forta Network is often credited as a leading decentralized security and monitoring network developed to enhance the overall security of Web3 projects. One of the biggest eye-opening events was in 2021, when around 130 Web3 projects fell victim to hacks by ill-conceived scammers, resulting in 2.3 billion in cryptocurrency losses. Farta aims to confront such hacks by enabling real-time Web3 threat detection and monitoring for every blockchain activity.
As the Web3 landscape strives to elevate from billions to trillions, the traditional form of conventional security is proving to be insufficient. One-time audits and bounties aren’t able to confront hacks. Farta comprises a detection network that can spot threats and anomalies in a dynamic and proactive Web3 system, which includes various innovations like DeFi (decentralized finance), NFTs, DAOs, and bridges.
Forta offers developers their complete will to design detection bots or machine learning models. It safeguards transactions significantly. One of the prominent strengths of Forta is its versatility. It has robust quality detection bots referred to as ‘threat intelligence,’ which provide data and information on Web3 threats specifically.
GoPlus Security
GoPlus Security has a very dynamic security infrastructure and it has played a pivotal role in safeguarding the Web3 ecosystem. It provides open, permissionless and user-friendly security services. It offers a wide range of security content and it is always one step ahead of the threats as it frequently updates and ensures that users can utilize the most relevant security information.
Real-time data updates keep the user informed and active about the dynamic security landscape in the Web3 space. Various detection tools built into the Goplus Security framework facilitate fast, reliable and convenient security services for its users, such as the Token Security API and the NFT Security API.
Shield Protocol
Shield Protocol is a layer-2 security platform that brings the concept of First Two Factor Authentication (2FA). It has a peer-to-peer architecture built on top of blockchain. It eliminates any data that could potentially harm the identity of an individual. Shield 2FA implies a tamper-proof system, enabling robust security for users.
There are various key features of the shield protocol, such as fault tolerance, which eliminates a single point of failure and ensures the robustness of the platform. Shield Protocol has strong encryption and it ensures the security of the data before backup. Though strong encryption is ensured, confidentiality and integrity of user data are also ensured.
Conclusion
Optimism Network facilitates low-cost and scalability solutions, which empower Ethereum-based dApps. Ethereum can reduce fees with its layer-2 infrastructure. Also, chances for other perks like higher transaction throughput and broader adoption get massively increased.
