{"id":8104,"date":"2021-08-17T16:49:04","date_gmt":"2021-08-17T15:49:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8104"},"modified":"2021-08-17T16:49:04","modified_gmt":"2021-08-17T15:49:04","slug":"1inch-reveals-deployment-to-the-optimistic-ethereum-network","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/1inch-reveals-deployment-to-the-optimistic-ethereum-network\/","title":{"rendered":"1inch reveals deployment to the Optimistic Ethereum Network"},"content":{"rendered":"\n
According to 1inch, the company's launch on the Optimistic Ethereum <\/a>network would result in speedier confirmation times and lower transaction fees.<\/h5>\n\n\n\n
\"1inch<\/figure>\n\n\n\n

1inch, a decentralised exchange aggregator, has announced its launch on the Optimistic Ethereum \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(OE) mainnet, claiming a significant reduction in transaction costs and confirmation times for users.<\/p>\n\n\n\n

According to Sergej Kunz, co-founder of the 1inch Network, “the 1inch launch on Optimistic will enable a dramatic increase in transaction speed.”<\/p>\n\n\n\n

While deposits made through the OE network are expected to be credited virtually instantaneously, withdrawals will be subject to a seven-day hold. When the quick withdrawal service is activated, it is anticipated that these wait times would decrease in the future.<\/p>\n\n\n\n

In its initial phase, the Open Exchange network<\/a> will be capable of processing only 0.6 transactions per second. The team, on the other hand, anticipates that after testing and optimising the infrastructure, transaction speeds will gradually increase. <\/p>\n\n\n\n

The update will be compatible with the vast majority of Ethereum wallets<\/a>, including MetaMask and WalletConnect, according to the developers.<\/p>\n\n\n\n

It is built by the Optimism team and operates at the layer 2 scalability level of the blockchain. On the Ethereum network, the Optimism team is a Public Benefit Corporation that conducts research into scalability solutions. The OE solution itself is an Optimistic Rollup chain that is compatible with the EVM.<\/p>\n\n\n\n

The 1inch exchange is not the only one to incorporate Optimism's layer-2 technology. On July 13, AMM Uniswap <\/a>launched the alpha version of their V3 exchange on the same Optimistic Ethereum mainnet<\/a> as the rest of the Optimistic Ethereum community.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to 1inch, the company’s launch on the Optimistic Ethereum network would result in speedier confirmation times and lower transaction fees. 1inch, a decentralised exchange aggregator, has announced its launch on the Optimistic Ethereum (OE) mainnet, claiming a significant reduction in transaction costs and confirmation times for users. According to Sergej Kunz, co-founder of the […]<\/p>\n","protected":false},"author":13,"featured_media":8142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23,21],"tags":[2262,128,2102],"class_list":["post-8104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","category-news","tag-1inch","tag-ethereum","tag-mainnet"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-191.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8104"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8142"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}