Optimism’s Bedrock Upgrade Has Been Set For 6th June

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Optimism
Optimism

Optimism, a Layer 2 scaling solution, is all set to go through its highly anticipated upgrade of Bedrock on 6th June. This move is anticipated to result in a significantly reduced transaction fee, which would also provide far greater network security, along with enhanced compatibility with Ethereum.

The team for the scaling solution stated in a Twitter thread on 15th May that the network would be down for a few hours on 6th June with the upgrade going through. An accompanying blog post also read that on upgrade day, deposits, transactions, and withdrawals would be unavailable for the downtime duration, with the OP Mainnet chain not progressing. 

Optimism’s Bedrock Will Be Quite Useful For The Upgrade

Optimism’s Bedrock was announced back in May 2022, and it would mark the first-ever upgrade of the major network that was voted through by the Token House- the governing council of the company. 

Optimism will also be benefiting heavily from the lower fees of the transaction, which OP Labs– the protocol development unit for the scaling solution- estimates will be dropping by 47%. The Bedrock explainer for the community stated that Bedrock would be improving on the predecessor by reducing the fees of transactions by using optimized batch compression and Ethereum as a data availability layer. Added to that, it is also expected that the network would be seeing shorter deposit times, with the scaling solution going from around 10 minutes to confirm a deposit to around three minutes. 

With Bedrock, Optimism will be removing several deviations from Ethereum, and the EVM that are present currently in Optimism, such as design patterns, differing code, and transaction per block models.