On June 7, the Optimism network completed its “Bedrock” upgrade, which OP Labs, the network developer, states will help build a “Superchain” of scalable Web3 networks running on the OP Stack software. This upgrade decreased deposit times, reduced layer-1 fees, and implemented further security measures.
In an interview with Cointelegraph, Karl Floersch, CEO of OP Labs, revealed that Bedrock has implemented multiple gas optimizations which the team discovered, decreasing the data availability costs on Ethereum by 40%. These savings are then passed on to the user in the form of lower gas fees on Optimism.
The upgrade of the network also enables it to detect Ethereum chain reorganizations (reorgs), which are reflected in the user’s Optimism balance. This leads to a decrease in deposit time to a mere one minute, which is a great improvement from the previous 10 minutes it took to transfer from Ethereum to Optimism due to the necessity of gaining finality on L1.
Bedrock implements a two-stage withdrawal process to safeguard against bridge exploits.
Hundred Finance has suffered a loss of $7 million due to a hack on Optimism.
The new upgrade not only brings about immediate changes, but also lays the groundwork for further development of the OP Stack in the future, with the intention of constructing a multi-network “Superchain,” according to Floersch. It includes “modular proof systems” that enable developers to craft and personalize their own blockchain networks. In addition, the validator component of the software, referred to as “op-geth,” has fewer than 1,000 lines of code that contrast with Ethereum’s version, potentially making it effortless for validators to switch over.
On February 23, Coinbase’s Base network declared its intention to join the Superchain. On May 24, the network provided a roadmap that outlined its plans for mainnet launch.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments