OP

Optimism Unveils 'Law of Chains' Paving the Way for Superchain Unity

by BSC News

July 26, 2023

chain

The Law of Chains outlines guiding principles for Optimism Governance and the Superchain, ushering in a new era of governance for multiple chains, fostering transparency and user protection.

Redefining Governance for Decentralized Superchain

Optimism, a leading Layer 2 scaling solution, has announced the release of the Law of Chains. This initiative aims to define the Minimum Viable Product (MVP) of the Superchain—a unified collective of chains dedicated to open, decentralized block space.

In this context, a "superchain" refers to an L2 network where OP Chains are individual chains managed by the Optimism Collective. All OP Chains, regardless of specific attributes, are considered part of the Superchain, sharing security, communication layers, and open-source technology stacks.

According to the Optimism team, currently, new OP Stack chains operate independently, lacking a straightforward way to share standards and improvements. This leads to challenges for users and builders who must individually assess various chains based on security, quality, and neutrality.

As per the protocol, the Law of Chains is a significant step towards creating a unified collective of chains committed to open and decentralized blockspace. It aims to solve problems once and for all, ensuring that improvements benefit everyone and preventing users from feeling overwhelmed by multiple choices.

Thus, with this new update, Optimism Governance moves from governing a single chain to governing a standard shared by many chains, which defines the properties that must be a part of the Super chain and prioritizes user protection during its traverse and transaction.

As part of the rollout, the Law of Chains is now open for community feedback, encouraging active participation from users, builders, and stakeholders. Optimism intends to introduce it alongside the first version of a governance process, enabling new chains to join the Superchain.

As the July 30th token unlock approaches, Optimism ($OP) is trading at $1.46, down more than 6.5% in 48 hours.

What is Optimism:

Optimism was established in 2019 by a team of Ethereum developers and operated as an L2 blockchain that leverages optimistic rollups to process transactions in batches. This technology offers users cost-effective and almost instantaneous transactions. Optimism is also a reliable, scalable, and secure platform for developers seeking to create Ethereum applications quickly.

Learn more about Optimism:

Website | Twitter | Docs | Governance

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