Vitalik Buterin Praises Another Altcoin, Sparks a Price Spike

Ethereum co-founder Vitalik Buterin expressed his admiration for Optimism (OP), the layer-2 scaling solution for Ethereum, and its Retroactive Public Goods Funding (RetroPGF) program.

RetroPGF is a program that rewards contributions that support the development and adoption of Optimism, such as creating decentralized applications, providing grants, creating educational content, and engaging with the community.

Buterin stated in his statement that more than 100 million dollars were distributed to projects in the third round of this program. The Ethereum founder said he was impressed by Optimism's help to developers and ETH contributors.

After Buterin's statements, there was a sudden upward movement in the OP price.

Buterin wrote:

“Optimism (OP) RetroPGF 3rd round distributed over $100 million. I'm really impressed to see their continued commitment to funding public products, helping developers and others contribute to Ethereum even if it doesn't have a business model. We hope to see more projects doing QF and RPGF tours in the future!”

Optimism claims to offer fast and cheap transactions on Ethereum using optimistic rollups, a technique that combines multiple transactions into a single proof that is verified by the main chain.

*This is not investment advice.