2024-06-22
Ethereum Global News

Optimism’s major ‘Bedrock’ upgrade set for June 6

The much-needed upgrade will provide a number of improvements across the network, and come at a time when competition in the layer 2 space has been heating up.

Layer 2 scaling solution Optimism is set to undergo its highly anticipated Bedrock upgrade on June 6. The move is expected to result in significantly reduced transaction fees, provide greater network security and enhanced compatibility with Ethereum.

The Optimism team stated via a May 15 Twitter thread that the network would be down for two to four hours on June 6 as the upgrade goes through.

“On upgrade day, transactions, deposits, and withdrawals will be unavailable for the duration of the downtime, and the OP Mainnet chain will not be progressing,” an accompanying blog post reads.

Bedrock was announced back in May 2022, and it marks the first major network upgrade that was voted through by the Optimism governance council’s Token House.

Optimism is slated to benefit from lower transaction fees, which OP Labs — the network’s protocol development unit — estimates wildrop by 47%.

“Bedrock improves on its predecessor by reducing transaction fees using optimized batch compression and Ethereum as a data availability layer; shortening delays of including L1 transactions in rollups by handling L1 re-orgs more gracefully,” the Optimism community’s Bedrock explainer reads.

Adding to that, the network will also see shorter deposit times, with Optimism going from roughly 10 minutes to confirm a deposit to just three minutes, the explainer states.

Advertisement

Join Investors Demo Day hosted by Cipholio, Cointelegraph & Animoca Brands on 31st May

While node software performance will be “significantly improved by enabling execution of several transactions in a single rollup ‘block’ as opposed to the prior ‘one transaction per block’ model in the previous version.”

Another key improvement concerns the network’s compatibility with the Ethereum Virtual Machine (EVM), the core piece of software that executes Ethereum smart contracts.

With Bedrock, the network will remove “multiple deviations” from Ethereum and the EVM that are currently present with Optimism, such as differing code, design patterns and transaction per block models. “Bedrock also adds support for EIP-1559, chain re-orgs, and other Ethereum features present on L1,” the explainer reads.

ZK Sync era overakes Optimism?

The upcoming move to Bedrock comes at a time in which EVM-compatible zero-knowledge rollups (ZkEVMs) have been taking the spotlight from Optimistic Rollup solutions such as Optimism.

Related: Ethereum’s Beacon Chain updated after finality issues

According to data from L2beat, Matter Labs’ recently launched ZkEVM, ZKSync Era, has overtaken Optimism in terms of network activity.

Over the past 30 days, ZKSync Era had seen 7.85 million transactions, compared to Optimism’s 7.66 million. Over the past 24 hours, ZKSync Era had also outpaced Optimism in average transactions per second (TPS), at 6.80 TPS compared to 2.98 TPS.

Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains, Polygon Miden founder

Source : Cointelegraph.com