Can you explain the consensus mechanisms used by Arbitrum and Optimism in the context of digital currencies?

1 answers

• Dec 16, 2021 · 3 years ago
  In the context of digital currencies, the consensus mechanisms used by Arbitrum and Optimism play a crucial role in improving the scalability and efficiency of Ethereum. Arbitrum employs Optimistic Rollup, which allows for off-chain transaction processing while maintaining the security of the Ethereum mainnet. Validators are responsible for monitoring the transactions and ensuring their validity. On the other hand, Optimism also utilizes Optimistic Rollup, but with a focus on fraud proofs. This means that any invalid transactions can be challenged and proven incorrect. By implementing these consensus mechanisms, both Arbitrum and Optimism aim to provide faster and more cost-effective transactions for users, ultimately enhancing the overall user experience in the digital currency space.
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