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.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

XRP Ledger Reaches 3 Billion Transactions Milestone

chest

The XRP Ledger has achieved a remarkable milestone by crossing 3 billion cumulative transactions.

user avatarNguyen Van Long

Cardano's Blockchain Verification Infrastructure Deployed by Major Retail Group

chest

A major retail group has successfully deployed blockchain verification infrastructure built around Cardano's ecosystem, enhancing the verification of authenticity, origin, and sustainability claims within supply chains.

user avatarSatoshi Nakamura

MoonPay Introduces PayBox: A New Era for Crypto Payments in Chatbots

chest

MoonPay has launched PayBox, a payment tool designed to let crypto transactions happen directly inside Grok AI chatbot workflows.

user avatarJesper Sørensen

Defillama Releases New Report on Industry Metrics

chest

A new report has been released by Defillama, focusing on key metrics in the industry. This report aims to provide insights into the current trends and developments.

user avatarRajesh Kumar

Farside Enforces a Rigid Editorial Policy.

chest

Farside has announced a strict editorial policy focusing on accuracy, relevance, and impartiality to enhance reporting quality and build audience trust.

user avatarLucas Weissmann

New SEC Report Published.

chest

A report has been released based on information provided by the SEC, aimed at informing the public and increasing transparency regarding its activities.

user avatarFilippo Romano

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.