INTRODUCTION

Advanced data compression methods are used by Optimism to speed up and lower the cost of Ethereum transactions. They do this via an approach called optimistic rollups, in which several transactions are "rolled up" into one and settled on a different, less expensive blockchain. Optimism, an Ethereum Layer 2 network, introduces a coin and a new kind of government. The Optimism team has disclosed that new users can still participate in the airdrops via which the token will be given. The primary Ethereum blockchain is then updated with the validated transactions. The fact that optimistic rollups do not compute by default, which might possibly result in scalability advantages, is their major advantage. According to estimates, optimistic rollups can increase scalability by 10-100x. The "challenge period," a window of time during which anybody can contest an allegation and lengthen the withdrawal period, is a drawback. One of the most exciting aspects of what Optimism has created is that, from its core principles to its technical architecture, it can be considered an extension of Ethereum. This strict adherence to Ethereum development paradigms makes the transfer for developers, wallets, and consumers relatively simple: no new programming languages are needed, existing contracts only need minor code modifications, and the bulk of Ethereum tools is supported out of the box.

A layer two protocol and smart contract platform, Optimism (OP), attempts to make Ethereum transactions inexpensive and nearly instantaneous. The Token House, a part of the Optimism Collective with the Citizens' House, is powered by the OP cryptocurrency. The Collective controls protocol updates, treasury distributions, and network settings.

METHODOLOGY

This dashboard will be foreseen with a number of queries to investigate the activities of the Optimism Network over time. Initially, the transaction count of the network over time is charted for time with a success rate and the failure rate over time with the label type. Now the transactions with the cumulative transactions over time are charted here with the status of the transaction. Now the bridged volume with different tokens is charted for the same period. Now the success rate of the transactions over time is charted for the number of transactions even to get an idea about the rate that the performance of the transactions. This is also followed by the weekly transactions and the success rate. Now the new users and the Cumulative number of users over time are charted for time. Also finally the success rate per second is also considered and queried here.

The total transactions in the optimism network is charted here with different label type over time and it is seen that most number of transactions are done by the dex label type.

The success rate and the failed transactions over time are charted here with the period. This takes into account the cumulative transactions too at the right side.

The success and failed transactions over time are charted here to display the trend and hence it is seen that the trend is the same with the failed and succeeded transactions even if the number of successful transactions is way higher than the failed ones.

The chart here indicates that the trend in the cumulative transactions with time and also with the success and failed transactions.

Here the bridged volume of the users over different tokens and period is charted here and this indicates that the USDC holds the highest amount in bridged volume.

The success rate of the transactions done by the users in the Optimism network is charted here and it is accounted that the highest rate of success in the transactions is 96% and the lowest is 85 % and the trend in the success of the transactions is decreasing over time.

The chart to the right displays the successful transactions over different networks with the 4 weeks in the month of July and the comparison yields a bad news that it is lowest for the optimism and Solana network has the highest.

The chart here shows the new users in the optimism network over time and the cumulative users and the period chosen here is the last month. As seen the trend is increasing but at a slow pace with a hike on July 27 followed by a drop.

The chart finally goes precisely into the transactions done in the optimism network with the need to understand the performance of the network as transactions account for the enrichment of the network. This chart shows the transactions done per second in the optimism network over time and the highest is more than 2.7 transactions in a second.