Coinbase Wallet will support Optimism's Layer 2 testnet

Ethereum • October 13, 2020, 2:09PM EDT
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.

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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."

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Mike is a Senior Editor at The Block. Previously he was a senior reporter at MIT Technology Review, where he covered a range of topics from solar cells to smart contracts.

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