Optimism, big upgrade “Bedrock” scheduled for June

Upgrade Optimism

Ethereum (ETH) Layer 2 (L2) network Optimism announced on the 16th that a major upgrade “Bedrock” will be implemented on June 7, 2023 at 1:00 (Japan time).

The official date of OP Mainnet’s upgrade to Bedrock has been set: June 6, 2023 at 16:00 UTC!

The upgrade will require 2-4 hours of downtime for OP Mainnet.

Visit Mission Control for full details on what to expect: https://t.co/o6UjKZaVKy

— Optimism (_) (@optimismFND) May 15, 2023

This upgrade is an attempt by Optimism to deepen its compatibility with Ethereum while minimizing system complexity. This will reduce system bugs and create an environment where ecosystem developers can contribute more easily.

Bedrock is the first major protocol upgrade to be voted on by Optimism’s governance token, ‘OP’, and marks a significant milestone in Optimism’s progress.

The Optimism mainnet will experience 2-4 hours of downtime during this upgrade. During this time, trading, deposits and withdrawals will be temporarily suspended. App and wallet developers are encouraged to display banners during downtime to inform users.

connection:Ethereum L2 “Optimistic” Testnet Moves to “Bedrock” Completed

Contents of Bedrock

The Bedrock upgrade is a massive improvement to Optimism’s rollup architecture, introducing a new architecture that reduces the block generation interval to 2 seconds. This is expected to improve the efficiency of transaction processing and improve the scalability of the Optimism network.

Additionally, Bedrock aims to reduce protocol costs and security fees by approximately 47% overall. This is purportedly achieved by introducing new techniques such as efficient compression and transmission techniques for data.

Specifically, it introduces a new “system transaction” that manages data transmission between L1 and L2. This is expected to improve the efficiency of the entire network by allowing users to make deposits and update data more smoothly.

connection:Coinbase L2 ‘Base’ Testnet Hard Fork Postponed

Improved security performance

It is also expected that the security level of the Optimism network will be improved and the protection of users’ assets will be strengthened.

With this upgrade, Optimism’s mainnet (OP Mainnet) and other chains that adopt the Optimism protocol (OP Stack chains) will be able to support multiple clients. This is expected to greatly improve network durability and adaptability.

Welcome, Magi!

This announcement marks a significant milestone for L2 client diversity. @noahcitron, @eddylazzarinand @a16zcrypto for this contribution to the Optimism ecosystem.https://t.co/5gErl0pbcv

— OP Labs (@OPLabsPBC) April 19, 2023

So far, execution clients such as “Magi” and “Op-Erigon”, which were contributed by a16zCrtypto, a major US VC, have already been released to OP Goerli.

The upgrade also introduces a new two-step withdrawal process. This aims to improve the security of the bridge and prevent attacks. The new process splits the withdrawal process into two steps: a “verification” step and a “finalization” step. This process has the advantage of increased security for the user, although the latency remains the same.

Finally, Bedrock says it will push the construction of Superchains, facilitating development such as “Base” built on Optimism’s OP Stack codebase.

The super chain concept is a new form of blockchain advocated by Optimism. We are aiming for a system in which multiple chains operate in parallel and interact like a single blockchain. We aim for a future where launching L2 is as easy as deploying a smart contract.

As part of this vision, Optimism has welcomed US cryptocurrency exchange Coinbase into the ecosystem as the core developer of the OP Stack codebase. A unique L2 blockchain “Base” is being built.

connection:Ethereum’s L2 technology “Optimistic Ethereum” can be operated with one click

The post Optimism, big upgrade “Bedrock” scheduled for June appeared first on Our Bitcoin News.