December 9, 2023

Ethereum layer 2 scaling solution Optimism is preparing to roll out its “Bedrock Edition” upgrade today (6 June).

The step is considered a major leap towards a utility-oriented “superchain,” featuring lower gas fees and significantly faster transaction finalization and block rendering. With these planned enhancements, the Ethereum-based protocol takes a step closer to its technologically progressive vision of becoming a superchain, that is, an interconnected network of interoperable and highly composable blockchains that is approaching accomplish.

Optimistic Bedrock Update

The Bedrock update is expected to go live via Optimism’s mainnet today at 16:00 UTC. “Bedrock is named Bedrock for a reason. It is the foundation of the superchain,” shared Karl Floersch.

Floersch currently serves as CEO of OP Labs and is a co-founder of OP Labs, the development organization behind Optimism and its suite of blockchain products.This move is considered to be a step towards A shift in optimism.

With the upgrade, all chains of associations and integrations built or designed within the OP technology stack (developer tools, APIs, and SDKs) will be linked, enabling smooth communication through a unified ecosystem. Floersche further emphasized that the “Super Chain” status is not just a nickname, it is essentially a long-term vision to set industry standards based on the OP Stack. One of the main features outlined in the upgrade anticipation is a 40% reduction in gas costs through an optimized data compression strategy.this means bedrock Internal mechanisms will be introduced to reduce reliance on block reorganization, which consumes a lot of resources on the side of layer 2 chains such as Optimism. Block-based reorganizations (reorgs) are instances where a blockchain produces two blocks at the same time, thus producing a duplicate blockchain. The code change stipulated in Bedrock will effectively reduce the confirmation interval for deposits to approximately 60 seconds, which is lower than the average interval of 600 seconds for the same typical transaction.

Key Improvements to the Optimism Cornerstone renew

Another bona fide upgrade brought about by the Bedrock update is a series of enhancements to proofs of modularity in the OP stack. This open-source toolkit provides developers with the ability to provide a customizable environment on the Optimism blockchain, opening up the structure and experience for users wishing to utilize validity proofs and error proofs in the OP stack. In addition to transaction upgrades, this feature set will provide performance improvements to node-related functions across the Optimism ecosystem. Another major advancement brought by Bedrock is facilitating Optimism’s transition to a multi-client ecosystem. Floersch claims that Optimism will be the first Layer 2 protocol to have multiple clients, increasing system resiliency by eliminating potential single points of failure. Client software is used to operate the blockchain, and Layer 1 blockchains like Ethereum rely on multiple clients to keep the network secure.

The upgrade process is expected to last two to four hours. During this period, deposit and withdrawal will be suspended, and the chain will be suspended.

What is optimism?

As a scaling solution for Ethereum, Optimism allows users to transact on the blockchain at a lower cost while retaining the underlying security of Ethereum. It leverages a technique called “optimistic rollups” to combine multiple transactions into one, resulting in faster transactions and lower gas fees.

Tier 2 view from above Ethereum Recent months have witnessed stiff competition. L2Beat statistics show that Optimism’s closest competitor, Arbitrum, leads with a total value locked (TVL) of $5.69 billion, followed by Optimism with a TVL of $1.68 billion. However, bedrock upgrades are expected to improve Optimism’s competitiveness.

Alternative solutions for optimistic rollups, such as Zero Knowledge Summary, is becoming more and more popular. Polygon and Matter Labs recently introduced their zkEVM, a Ethereum Virtual Machineproviding users with more options for faster and cheaper transactions on Ethereum.

Disclaimer: This article is for informational purposes only.It does not provide or intend to use as legal, tax, investment, financial or other advice.