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Definition: Optimistic Ethereum


A Layer 2 blockchain launched in 2021. Optimistic Ethereum (OE) executes the transactions much quicker than the main Ethereum chain. It uses Ethereum to store the transactions, which then become incontestable. As one of the main purposes of using a Layer 2 blockchain, OE execution fees are typically much less than the amounts charged on Ethereum. See Layer 2 blockchain.