What is the difference between Optimism, Arbitrum, and Polygon?

Comparison between Optimism and Arbitrum

Optimism is not the only solution as two other networks are offering similar solutions namely Polygon and Arbitrum.
In terms of functionality and popularity, Arbitrum is the closest alternative to Optimism. We take a look at the biggest differences and similarities between them.

Arbitrum is a layer 2 solution that enhances the capabilities of Ethereum smart contracts and focuses on increasing the speed and scalability of smart contracts while adding additional privacy features.

The network allows developers to run unmodified EVM contracts and Ethereum transactions on a secondary layer while the first layer of Ethereum still has security and offers features similar to Optimism.

$ 2.50

Optimism (OP)

The primary difference between the two networks is that Optimism uses single-round fraud evidence while Arbitrum uses multi-round evidence.
A single round of Optimism’s FP fraud protection software relies on the first level to execute all second-level transactions and this ensures that verification is instantaneous.

Technical differences between Arbitrum and Optimism

Arbitrum uses a transaction pool to store a set of transactions submitted to the Ethereum main chain and the sidechain can be used to execute those transactions at a low cost while still leveraging Ethereum to ensure correct results.
This allows Ethereum to reduce storage and computation overhead and provides a second layer for decentralized distributed applications.

Arbitrum is based on the AVM while Optimism is based on the EVM.
This is the default sandbox that includes network consensus rules for each Ethereum node used to execute smart contracts, and Optimism requires a significant connection to the Ethereum network.

There is no scalable solution that addresses all Ethereum network issues.
But Arbitrum looks to improve the functionality of smart contracts for the Ethereum network and Optimism does the same but focuses on reducing the cost of transactions.

$ 0.972069

Arbitrum (ARB)

Is Polygon an alternative to Optimism?

The Polygon Network is one of the Ethereum development projects that is also worth talking about, as it is a layer 2 scaling solution.
It provides tools for developers to build scalable decentralized finance applications, and DApps prioritize security, performance, and user experience.

Polygon is a cross-chain platform that combines the best aspects of Ethereum and other blockchain networks
The platform addresses many of the issues associated with the Ethereum blockchain, such as high gas fees and transaction speed, while adhering to security rules.
This multi-chain system works in the same way as other systems like Cosmos, Polkadot, and Avalanche.

$ 0.682961

Polygon (MATIC)

Polygon and Ethereum are similar in principles and functionality, benefiting from a high level of security.
It also encourages collaboration with community participants as much of the code it uses is open source.

Does Optimism represent the future of blockchain?

We do not dispute the importance of the Optimism network as its services allow the scalable Ethereum network to be very popular, which means transactions are handled in a low-cost and timely manner.

The network allows for collaboration and improvements made by community members as decentralized applications can run on Optimism and benefit from the same features found on the Ethereum network.

The continued evolution of the network with increasing adoption of Ether is expected to make Optimism one of the prominent projects in the future.