Achieving Decentralization Milestones in Optimism Mainnet

The recent unveiling in Optimism Mainnet marked the successful integration of the 'permissionless fault proofs' mechanism. This milestone signifies a crucial advancement towards complete decentralization.

The implementation of this mechanism plays a pivotal role in ensuring the legitimacy of transactions and the overall state of the blockchain. It has propelled OP Stack to the initial phase of decentralization, a parameter outlined by Ethereum co-founder, Vitalik Buterin.

The Fault Proof System, now operational on OP Mainnet, empowers users to withdraw tokens from the network without reliance on trusted third parties like central bridges. This enhancement is anticipated to fortify the security and autonomy of transactions within the platform.

In addition to OP Mainnet, the forthcoming upgrades in other OP Stack Chains such as Base, Mode, and Zora will further extend the influence and effectiveness of this cutting-edge technology.

The Security Council, recognized as multi-sig, retains the capacity to restore the system to an admissible state in case of malfunctions or to safeguard against network assaults. Nonetheless, the ultimate objective is to accomplish complete decentralization by diminishing the influence of the Security Council and endorsing multiple proof systems through the Proof-of-Fault System.

As part of the transition towards the next phase of decentralization, novel proof systems such as Asterisc and Kona are scheduled for evaluation. This progression aligns with Buterin's strategy of progressively decentralizing Layer 2 solutions (L2s).

Buterin himself expressed enthusiasm for this evolution by stating:

'Welcome to the tier 1-plus tier 2 club, Optimism. I look forward to many more L2s joining this club soon, especially some ZKs.'

This does not constitute investment advice.