• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Optimism achieves successful implementation of 'Bedrock' hard fork, resulting in decreased deposit durations and layer-1 charges

Optimism achieves successful implementation of 'Bedrock' hard fork, resulting in decreased deposit durations and layer-1 charges

user avatar

by Max Nevskyi

2 years ago


This enhancement is a component of a sequence of reforms aimed at enhancing modularity in the OP Stack, empowering developers to establish their own networks by utilizing the software.

According to an announcement by OP Labs, the developers of the Optimism network, the "Bedrock" upgrade was successfully completed on June 7. This upgrade resulted in reduced deposit times, decreased layer-1 fees, and the implementation of additional security features. The upgrade is a part of a larger set of reforms aimed at establishing a "Superchain" of scalable Web3 networks utilizing Optimism's OP Stack software.

Optimism achieves successful implementation of 'Bedrock' hard fork, resulting in decreased deposit durations and layer-1 charges - news

During a discussion with Cointelegraph, Karl Floersch, the CEO of OP Labs, revealed that the Bedrock upgrade incorporates several gas optimizations that the team has discovered. As a result, the network's data availability fees on Ethereum have been reduced by 40%. These reductions are then transferred to the users in the form of decreased gas fees on the Optimism platform.

Furthermore, as part of the upgrade, the network now has the capability to detect chain reorganizations (reorgs) on Ethereum and accurately reflect them in the user's Optimism balance. This enhancement enables a significant reduction in deposit times to just one minute. Previously, depositing funds from Ethereum to Optimism took approximately 10 minutes due to the requirement of achieving finality on Layer-1.

In addition to the aforementioned improvements, Bedrock incorporates a two-step withdrawal process, which serves as an additional safeguard against potential bridge exploits.

Apart from the immediate modifications, the latest upgrade sets the foundation for the future advancement of the OP Stack, aiming to construct a multi-network "Superchain," according to Floersch. The upgrade introduces "modular proof systems" that empower developers to design and personalize their own blockchain networks. Additionally, the validator component of the software, known as "op-geth," has fewer than 1,000 lines of code that differ from Ethereum's version. This aspect potentially simplifies the process of transitioning validators to the new system.

Coinbase's Base network made an announcement on February 23, declaring its integration into the Superchain. Subsequently, on May 24, it presented a roadmap outlining its intentions for the mainnet launch.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Cash and Sui Show Market Strength Amidst New Opportunities

chest

Bitcoin Cash (BCH) and Sui (SUI) are being closely monitored by investors for their market performance and potential growth.

user avatarGustavo Mendoza

CAA Industries Inc Confirms Exclusive Use of BNB Tokens

chest

CAA Industries Inc has confirmed its exclusive use of BNB tokens in its digital asset strategy, holding a significant amount valued at millions.

user avatarRajesh Kumar

Aave Develops Mobile-Driven Onboarding for DeFi

chest

Aave is developing mobile-driven onboarding solutions to make DeFi more accessible.

user avatarMiguel Rodriguez

XRP and SUI Experience Minor Price Dips Amid Market Activity

chest

XRP and SUI have experienced minor price dips due to profit-taking and market corrections, with XRP at $2.14 and SUI at $1.67 in the last 24 hours.

user avatarLuis Flores

Two Long-Dormant Casascius Coins Activated, Unlocking 179 Million Bitcoin

chest

Two long-dormant Casascius coins, each backed by 1,000 Bitcoin, have just been activated, unlocking over 179 million Bitcoin that had been stashed away for over 13 years.

user avatarArif Mukhtar

Polkadot Shows Signs of Potential Market Reversal

chest

Polkadot is showing early signs of a market reversal after a significant retest of support, with analysts considering the possibility of it entering the Wyckoff Spring phase.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.