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DeFi researcher Ignas has recently shared a detailed comparison of the two popular rollup solutions, Optimism and Arbitrum. Ignas delves into the current state and key growth catalysts in the companion.
24/ What's your take on it?
— Ignas | DeFi Research (@DefiIgnas) February 28, 2023
Follow me @DefiIgnas for more.
Like/Retweet the first tweet below if you can: https://t.co/Ki7fPKPALA
Optimism and Arbitrum are two platforms that are prominent when it comes to rollups, which are a type of layer 2 scaling solution that helps to process transactions off of the Ethereum network.
A look into the daily transactions reveals that Optimism and Arbitrum are still behind Ethereum in terms of numbers. However, Arbitrum had recently surpassed Ethereum for a short period of time. Optimism enjoyed a boost in daily transactions after its collaboration with Base.
Ignas mentioned that even though Optimism began its operation two years ago, Arbitrum gained the upper hand in terms of users and transactions. Both of these platforms have raised similar amounts, with Optimism raising $178 million at a $1.65 billion valuation and Arbitrum raising $143 million at a $1.2 billion valuation.
A look into the gas fees reveals that Arbitrum has cheaper gas fees. However, in May 2022, the gas fees of Arbitrum were higher than those of Ethereum.
10/ What’s more, Coinbase’s new L2—Base—will use Optimism’s technology.
Plus, Coinbase joins Optimism as a core dev to build the open-source OP Stack that powers Optimism.
It’s bullish for Optimism, although it’s unclear how different it will be from Base. pic.twitter.com/WfeDe3ASUs
— Ignas | DeFi Research (@DefiIgnas) February 28, 2023
Optimism recently bagged the Coinbase partnership, which is bullish for Optimism. A look at the ecosystems reveals that both of these DeFI ecosystems are growing quicker than any other major chain. Ignas stressed the fact that the tight competition between them is actually better for the users as they get better over time.