Is Optimism Network a Trustworthy and Reliable Blockchain Solution for Ethereum?

Optimism token has a great reputation. The Optimism Foundation raised 150 Million Dollars in a Series B financing round. Tokens that raise this amount of capital from venture capital firms are pretty trustworthy. Optimism is a scaling solution for Ethereum.

Many cryptocurrencies on the internet end up being scams or Ponzi schemes. This is why it is important to be cautious about which cryptocurrencies are purchased. Some cryptocurrencies raise money and end up losing 99% of their value over the years, especially in a bear market. Thus, it is critical for someone to do their research. In this article, we'll go over whether or not Optimism has a great reputation.

The Optimism Token does have a great reputation, however firstly, we must explain exactly what Optimism as a token is.

Optimism token is the token from the Optimistic network. The optimistic network is a layer 2 scaling solution for Ethereum. The Optimism network is an extension of the Ethereum network. The Optimism token represents the Optimism ecosystem and its network.

People use the Optimism network to use Ethereum. Optimism offers lower transaction fees and faster confirmation times. People can use this network to take advantage of these benefits. We cover the Optimism network and how it works in another one of our articles.

Since Optimism is a behemoth of a network, the token by relation has a great reputation. More than 150 applications are being built and improved on the Optimism ecosystem. Optimism, as a token, allows users to participate in the governance of the Optimistic protocol. It allows the community to decide where the optimistic ecosystem goes in the future.

Since Optimism gives the token owners special governance voting rights, it also allows the community to decide which projects get funded. The token has a great reputation because people can vote on how millions of dollars are allocated, and which project receives these funds.

Optimism has a great reputation because it is known and because many people are using it. Every day more than 200 thousand transactions are submitted on the Optimism network. More than 25 Million transactions have been submitted in the entire lifetime of Optimism.

Optimism is also trusted by centralized exchanges. Optimism is currently being traded at Binance, Coinbase, Kucoin, and Huobi Exchange. This is why Optimism also has a great reputation.

It takes millions of dollars to integrate a cryptocurrency into an exchange. If they are willing to integrate Optimism tokens into their exchanges, then it's fair to say that it has a pretty good reputation.

One of the important details to note is that some exchanges, like Kucoin, will list even the worst coins in existence. By this metric alone, we can’t conclude that Optimism has a great reputation. We need other sources of evidence.

The Optimism token also has had many investors in the past. This is why it also has a great reputation. When investors put their capital on the line, it signifies that the protocol has great value and can be trusted.

The Optimism Foundation raised 150 Million dollars in a series B financing round. 17% of the total tokens in the initial token supply are going towards investors from this phase.

Private investors seem to like Optimism enough to devote 150 Million dollars to the project. Retail investors also seem to like the Optimism token. In late July, Bitcoin went up about 30%.

In the same period, Optimism went up a staggering 340%. This dramatic price appreciation was higher than most of the cryptocurrencies in the world at the time.