Optimism’s major upgrade “Bedrock”, implementation complete

1 year ago 83

Significant improvement in fees, etc.

Ethereum (ETH) Layer 2 (L2) network Optimism announced on the 7th that it has completed a major upgrade, Bedrock. The price of OP token is up +8.3% from the previous day.

OP Mainnet’s migration to Bedrock has concluded and the Bedrock sequencer has started up.

Key external OP Mainnet infrastructure is starting to come back online. You can track infrastructure status here:https://t.co/XTtaArdI03

— Optimism (_) (@optimismFND) June 6, 2023

The biggest feature of “Bedrock” is the improvement of network fees, which reduces protocol costs and security fees by about 40% overall.

In addition, the point that it takes up to 7 days to transfer assets (withdrawal) from L2 to L1 was a bottleneck, but after Bedrock, this will be shortened by more than 4 times. Meanwhile, L1⇨L2 deposits will accelerate from the usual 10 minutes to 1 minute.

This upgrade is an important step in Optimism’s “superchain” initiative, minimizing system complexity while deepening compatibility with the Ethereum mainnet.

connection: Development of a new client for the “Magi” system Optimism

DeFi assets under management on Optimism are worth $870 million.