Following the ChatGPT launch at the end of November, excitement about artificial intelligence has grown exponentially. OpenAI’s AI chatbot has also significantly impacted cryptocurrencies. We have seen projects in this field achieve gains of over 500% in just a few months. Now, a different altcoin is rising due to Sam Altman’s decision.
Optimism (OP)
The popular scaling solution for Ethereum, which was transferred to the project founded by OpenAI’s CEO, is experiencing significant increases in network activities. According to Etherscan data, the daily transaction volume on Optimism Mainnet exceeded 600,000 twice in July. Data from L2Beat also shows that the layer2 network conducted 15.95 million transactions in the last 30 days, with an average of 6.12 transactions per second.
The increase in transaction volume for Optimism coincided with Worldcoin recently adopting the platform. Earlier this week, the crypto project supported by Sam Altman announced the transition of World ID and World App to the OP Mainnet.
Following the transition of the underlying technology, user migration has now begun. The transition means that the Worldcoin protocol is now on Ethereum with bridges for Optimism and Polygon POS. The Worldcoin Foundation stated:
“Bringing World ID to OP Mainnet means we will further strengthen our capabilities with Optimism’s features.”
Worldcoin mentioned that the migration is part of their efforts to implement Superchain. Optimism Superchain is a network consisting of L2 chains known as OP Chains, which share security, a communication layer, and an open-source technology stack.
OP Token Commentary
Meanwhile, various developments are taking place in the Optimism ecosystem. Two proposals for implementing zero-knowledge proof systems for OP chains were approved by O(1) Labs and RISC Zero. This move means that the network will soon have its own ZKP layers similar to Polygon and ZKSync.
We have been talking about how zero-knowledge proofs will receive more attention in the future since the end of 2021. Now, many layer2 networks are revealing their visions in this regard. Polygon has already taken action.
Positive developments in the Optimism ecosystem have led to an increase in the price of the OP Token.
If the price continues to close above $1.57, it could lead to a rise above $2. The medium-term target is to surpass $2.8 once again.
