Announcing Ruby Protocol Deployment on Optimism
Fellow Rubies,
We have some exciting news to kick off the year 2023! Ruby Protocol amplifies its reach by deploying our privacy and access control solutions on Optimism.
Thanks to Optimism’s higher transactions per second and cheaper usage fees, it is an essential scaling solution for Ethereum and many others. Due to this development, many of the most used Web3 protocols are working with scaling solutions to offer a more significant user experience. We want to provide more.
Ruby Protocol is dedicated to building a private data management framework for Web 3.0 that proposes and implements a privacy layer interacting with the multi-chain ecosystem. We envision it as a fine-grained private data access-control gateway across different entities and organizations in the decentralized and traditional financial world.
To realize our Web3 vision in this super-connected space, Ruby Protocol must work with and learn from the most advanced Web3 projects. After all, in today’s technical landscape, combined endeavors often produce synergies and make superior products for partners and end customers. So, again, we’re thrilled to announce Ruby Protocol is finally ready to go live on Optimism!
What is Optimism?
Optimism is one of the layer 2 scaling solutions. It is powered by a technology called Optimistic rollups, which bundle large amounts of transaction data into digestible batches. Optimism is much cheaper than Ethereum, and it’s increasingly becoming popular with other layer 2 solutions.
Optimism is a layer 2 chain that functions on top of the Ethereum mainnet. Transactions take place on Optimism, but the data about transactions get posted to the mainnet, where they are validated. It’s like driving on a less crowded side street while benefiting from the security of a highway.
Why Deployment to Optimism？
Besides the advantages mentioned above, Optimism also makes technical integration easy and smooth for any partner.
With OVM(Optimistic Virtual Machine), their fully-featured, EVM-compliant execution environment designed for the Layer 2 system, Optimism brings a different level of compatibility within the Layer 2 ecosystem. The Optimistic Virtual Machine is equivalent to the EVM, so the decision to move a dApp onto L2 is no longer architectural and complicated. It’s simply a matter of deployment.
In addition, it has been observed that the network is excellent at attracting users, partners, and integrations while keeping its users loyal and satisfied. Statistically, many dApps are now deployed on Optimism pushing its TVL to increase to more than $500 million.
Ruby Protocol & Optimism
Ruby Protocol’s deployment on Optimism will enable our community users and many privacy-conscious crypto enthusiasts to benefit from all the advantages mentioned above. However, in light of our PoC Launch, our tech team will primarily focus on access to cheaper and faster transactions.
One of our many plans is to join a diversified network of applications and communities. This milestone marks an important milestone in our journey toward complete decentralization.
If you’re interested in our deployment and becoming a part of our community, be sure to reach out to us on Twitter or Telegram, we’d be happy to answer any questions you may have.
About Us
Ruby Protocol is a private data management framework for Web 3.0 that proposes and implements a privacy layer interacting with the multi-chain ecosystem. It is a fine-grained private data access-control gateway across different entities and organizations in the decentralized and traditional financial world.
