Venture-Backed Ethereum Project Optimism Delays Launch

The throughput-boosting Layer 2 project said rushing its mainnet launch could have consequences for unprepared projects.

AccessTimeIconMar 26, 2021 at 1:27 p.m. UTC
Updated Sep 14, 2021 at 12:32 p.m. UTC

Ethereum-scaling system Optimism delayed its mainnet launch to July after the venture-backed startup’s promise of a debut in March proved to be “overeager,” the project announced Thursday.

  • In a blog post, Optimism, which last month raised $25 million from Andreessen Horowitz and others, admitted the original timeline was unworkable and took many projects by surprise.
  • Rushing its tech salve for raging Ethereum gas fees could have dangerous consequences. “There is a very real risk of” projects getting fraudulently forked by bad actors, the post said. 
  • Optimism called July a “rough estimate” for its mainnet launch. A hacker-ready testnet will debut in late April.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.