Cryptocurrencies: 5,984
Markets: 542
Marketcap: $ 392.09 B
24h Vol: $ 55.19 B
BTC Dominance: 60.69%

Global market data

Cryptocurrencies: 5,984
Markets: 542
Marketcap: $ 392.09 B
24h Vol: $ 55.19 B
BTC Dominance: 60.69%

[THE BLOCK] Coinbase Wallet will support Optimism’s Layer 2 testnet

The Block

Coinbase’s non-custodial wallet service will today begin offering support for Ethereum scaling project Optimistic Ethereum’s testnet, according to an announcement by Optimism, the startup behind the project. It’s the first tie-up between a popular wallet service and an Ethereum “Layer 2” project based on a technology called Optimistic Rollup. 

Optimistic Rollup is a scaling approach that uses cryptography to reduce the amount of data that must be processed by the main blockchain, generally by doing most of the computation off-chain. Starting today, Wallet users will be able to view their balances and send transactions using Optimism’s testnet “safely and securely,” the announcement said.

On application already accessible via the tesnet is Synthetix’s Mintr staking platform. Recently, Synthetix announced an incentivized trial test with Optimism, allowing its users to stake and collect SNX token rewards via Mintr, using Optimistic Rollups.

Coinbase confirmed the news in a tweet, which said the aim of integrating support for the testnet is to “help early adopters test Optimistic Rollups.”

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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