Optimism has “soft launched” its solution to Ethereum’s transaction problem, the Optimistic Virtual Machine (OVM).
The startup announced Friday that OVM is now live, at a time when gas fees have reached near all-time highs for decentralized finance (DeFi) traders. Indeed, the cost to send a single Ethereum transaction has hovered in the low single-digit dollars for the last month – a bit steep for the “internet of money.”
First on the docket is DeFi exchange Synthetix, which has been working on an integration for some weeks now. The platform allows traders to exchange Ethereum-based synthetic contracts of real-world assets including oil futures.