• 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

SEC Settles Case Against Crypto Entrepreneur Justin Sun

chest

The SEC has announced a settlement with crypto entrepreneur Justin Sun, requiring him to pay $10 million for violating securities laws.

user avatarEmily Carter

Solana Gains Ground in Stablecoin Transactions

chest

Solana has increased its stablecoin transaction volume, surpassing Ethereum last month with $66.064 billion compared to Ethereum's $54.882 billion.

user avatarTomas Novak

Solana Surpasses Ethereum in RWA Holders

chest

Solana has surpassed Ethereum in the number of real-world asset holders, reaching 157,112 compared to Ethereum's 153,592.

user avatarKaterina Papadopoulou

Political Landscape for Crypto Legislation Grows More Complex

chest

The political environment surrounding crypto legislation is becoming increasingly complicated, with banks leveraging their influence against digital asset firms.

user avatarMaya Lundqvist

US Crypto Legislation Faces Intense Lobbying from Banking Sector

chest

The US banking sector is launching a major lobbying effort against crypto legislation, aiming to influence lawmakers and complicate regulatory advancements for digital asset firms.

user avatarLeo van der Veen

Meta Platforms Introduces New AI Chips to Compete in the Market

chest

Meta Platforms has introduced four new AI chips to enhance its AI capabilities and compete in the chip market.

user avatarLi Weicheng

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.