Optimism, a Layer Two (L2) scaling community built on Ethereum, has announced plans to upgrade their network sometime in mid-March. The update, named ‘Bedrock’, is designed to improve network speeds, cut down on fees and make it more compatible with other Ethereum Virtual Machine (EVM) applications. The Optimism Foundation stated: “The Bedrock upgrade is a major milestone towards a multi-chain future.”
Optimism’s Bedrock Update: Speeding Up Transfer Rates and Improving Node Performance
Optimism, the Ethereum-based Layer Two (L2) scaling answer, plans to upgrade its network in mid-March 2023 with a brand-new rule set change known Bedrock. On February 1, 2023, the Optimism Foundation tweeted about the proposal, saying: “The Optimism Foundation has proposed the first protocol update for Optimism Collective: Bedrock.” In another tweet, the official Optimism Twitter account expressed delight at the idea of submitting it to Token House. The tweet added:
We are also excited because Bedrock is the result of years of research and development. It is a crucial step towards a future of high-performance, modular, multi-chain and simplified.
The Optimism Foundation’s upgrade proposal details the official launch of OP Stack, a set of modular parts that power Optimism. Bedrock aims to maximize data compression to reduce transfer fees, cut down on deposit times through more efficient Layer 1 reorganizations, introduce modular verification techniques, and improve node performance. The Proposal also highlights Bedrock’s goal to remain closely compatible with Ethereum.
The Bedrock Upgrade, along with the official launch of OP Stack, will help Ethereum implement EIP-1559, modularity and other user-centric design concepts. According to the Optimism Twitter account, the upgrade should take roughly 4 hours, known as “regenesis”. Optimism users don’t have to take any action and all historical chain data will remain accessible after the upgrade. Goerli’s testnet for Optimism has already been upgraded to Bedrock without any issues, according to Optimism developers.
What do you think of Optimism’s upcoming Bedrock Upgrade and its potential impact on the future of the L2 community? Share your thoughts and feedback in the comments section below.
