• 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

3 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 Coinbase Premium Gap Turns Negative After 20-Day Positive Streak

chest

The Coinbase Premium Gap for Bitcoin has shifted to negative for the first time in 20 days, indicating a change in buying and selling behavior among American investors.

user avatarDiego Alvarez

Digital Asset Sector Sees Positive Net Capital Inflows

chest

The digital asset sector has experienced a significant shift with positive net capital inflows for the first time since December, with combined monthly netflows into Bitcoin, Ethereum, and stablecoins surging to a positive value of $3 billion.

user avatarKenji Takahashi

Bitcoin Options Market Shifts with IBIT Dominance

chest

Jeff Park discusses the impact of IBIT options on Bitcoin's volatility and potential price movements.

user avatarMaria Fernandez

Market Analyst Predicts Bitcoin Upside Before Potential Crash

chest

Market analyst Michael van de Poppe forecasts another strong upside move for Bitcoin before a significant downturn.

user avatarRajesh Kumar

Chainlink Traders Experience Largest Exchange Withdrawals Since December

chest

Chainlink traders have made significant exchange withdrawals, indicating potential accumulation trends.

user avatarGustavo Mendoza

Peter Schiff Warns of Potential Breakdown for MicroStrategy's Bitcoin Strategy

chest

Peter Schiff warns that MicroStrategy's financial model may not be sustainable due to increasing obligations and reliance on Bitcoin, potentially leading to negative effects on the broader Bitcoin market.

user avatarMiguel Rodriguez

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.