CryptoMediaClub
Thursday, July 31, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

VC Giant a16z Unveils New Rollup Client for Optimism Called Magi

20.04.2023
A A
0
122
VIEWS
ShareShare

On April 19, the VC giant announced Magi, a new rollup client for the Ethereum layer-2 ecosystem, Optimism.

It stated that client diversity is important for Ethereum, and it is critically important for layer-2 and rollups.

“Multiple independent client implementations can help ensure the safety and liveliness of the network,” the firm noted.

Magi is an OP Stack rollup client written in the Rust programming language.

The software acts as the consensus client feeding new blocks to the execution client in order to advance the chain.

A16z’s motivations behind the release were to advance client diversity in the rapidly expanding layer-2 ecosystem.

ADVERTISEMENT Optimism Ecosystem Growth

The firm said that there was one rollup client implementation at the moment; op-node. Magi will be an independently developed, drop-in replacement for op-node, adding to the rollup’s client diversity, it said before adding:

“We hope that building out this new, Rust-based client will encourage greater safety and liveliness throughout the OP Stack, and bring more contributors into the ecosystem.”

Optimism is the second most popular Ethereum layer-2 scaling solution behind Arbitrum. According to L2beat, it has a total value locked of $2.09 billion which is currently an all-time high.

Furthermore, TVL on the network has increased by 83% since the beginning of the year. The EVM-compatible Optimistic Rollup chain has a layer-2 market share of 21%. Its native OP token has retreated 6.8% on the day to trade at $2.50 at the time of writing.

Arbitrum One is the L2 market leader with a share of 66% from a TVL of $6.58 billion.

TVL for the entire L2 ecosystem is just below $10 billion and cooling from an all-time high this week as crypto markets correct.

Crypto Markets Retreat

Crypto markets commenced their long-overdue correction during the Thursday morning Asian trading session. As a result, total market capitalization had declined by 5% to $1.26 trillion, according to CoinGecko.

Bitcoin had been beaten by resistance at $30K, falling 4.5% to $28,857 at the time of writing. Solid support for BTC lies just above the $28,000 price zone.

Ethereum had taken a larger 6.7% hit in a slide to $1,949 and many of the rest of the altcoins were deeper in the red.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share9Tweet6ShareSharePin2

Related Posts

Comprehensive Reform of Digital Asset Regulation Proposed in U.S.
All news

Comprehensive Reform of Digital Asset Regulation Proposed in U.S.

31.07.2025
0

The administration of President Donald Trump introduced a comprehensive plan to reform the regulation of digital assets in the United...

Read moreDetails
Will Siton’s DOGE Surpass XRP in the Future? Siton Mining Launches DOGE-Exclusive Contracts, Unlocking Daily Passive Income

Will Siton’s DOGE Surpass XRP in the Future? Siton Mining Launches DOGE-Exclusive Contracts, Unlocking Daily Passive Income

31.07.2025
Why Is Crypto Up Today? – July 31, 2025

Why Is Crypto Up Today? – July 31, 2025

31.07.2025
10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

31.07.2025
Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

31.07.2025
Load More
Next Post
Venom Foundation’s Testnet to Go Live Next Week

Venom Foundation’s Testnet to Go Live Next Week

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Binance Executive Who Fled Nigerian Custody Found in Kenya Facing Extradition: Reports

Binance Executive Who Fled Nigerian Custody Found in Kenya Facing Extradition: Reports

1 year ago
January 2025 Crypto Report: Trump’s Inauguration, Bitcoin’s New Excessive, and Solana’s AI Rise

January 2025 Crypto Report: Trump’s Inauguration, Bitcoin’s New Excessive, and Solana’s AI Rise

6 months ago
DeFi Data Firm API3 Launches OEV Network for DeFi Projects EthCC 7

DeFi Data Firm API3 Launches OEV Network for DeFi Projects EthCC 7

1 year ago
U.S. debt ceiling crisis: bullish or bearish for Bitcoin?

U.S. debt ceiling crisis: bullish or bearish for Bitcoin?

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

[LIVE] Crypto News Today: Latest Updates for July 31, 2025 – Bitcoin Holds $118K After Fed Keeps Rates Steady, ETH Trades Above $3.8K

ChatGPT Predicts the Price of XRP, Shiba Inu and Cardano by the End of 2025

Prosecutors Investigating Ex-South Korean President Yoon Quiz ‘Crypto Fraudster’

Solana’s xStocks top $1.6B in first month of trading, largely driven by centralized exchanges

Trending

Comprehensive Reform of Digital Asset Regulation Proposed in U.S.
All news

Comprehensive Reform of Digital Asset Regulation Proposed in U.S.

31.07.2025
0

The administration of President Donald Trump introduced a comprehensive plan to reform the regulation of digital assets...

Will Siton’s DOGE Surpass XRP in the Future? Siton Mining Launches DOGE-Exclusive Contracts, Unlocking Daily Passive Income

Will Siton’s DOGE Surpass XRP in the Future? Siton Mining Launches DOGE-Exclusive Contracts, Unlocking Daily Passive Income

31.07.2025
Why Is Crypto Up Today? – July 31, 2025

Why Is Crypto Up Today? – July 31, 2025

31.07.2025
10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

31.07.2025
Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

31.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz