The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in March. The upgrade, named “Bedrock,” aims to increase transfer speed, lower fees, and enhance compatibility with the Ethereum Virtual Machine (EVM). The Optimism Foundation stated in its proposal, “The Bedrock upgrade is a major step towards a multi-chain future.”
Optimism’s Bedrock Upgrade: Optimizing Transfer Fees and Improving Node Performance
Optimism, the L2 Ethereum scaling solution, plans to upgrade its network in mid-March 2023 with a new ruleset change called Bedrock. On Feb. 1, 2023, the Optimism Foundation tweeted about the proposal, stating, “The Optimism Foundation has proposed the first protocol upgrade to the Optimism Collective: Bedrock.” In another tweet, the official Optimism Twitter account expressed excitement about presenting the proposal to the Token House. Optimism’s tweet adds:
We see Bedrock as the culmination of years of R&D—and the next crucial step towards a modular, simplified, and performant multi-chain future.
The Optimism Foundation’s upgrade proposal details the first official release of the OP Stack, a set of modular components powering Optimism. Bedrock aims to improve transfer fees through optimized data compression, reduce deposit times by handling L1 re-orgs more efficiently, enable modular proof systems, and enhance node performance. The proposal highlights that Bedrock aims to maintain close compatibility with Ethereum.
The Bedrock upgrade, the first official release of the OP Stack, will support Ethereum-centric design principles like EIP-1559 and modularity. According to Optimism’s Twitter account, the upgrade is expected to take approximately 4 hours and will not require a “regenesis.” End-users of Optimism do not need to take any action, and historic chain data will remain accessible after the upgrade. The Goerli testnet for Optimism has already undergone a successful upgrade to Bedrock without major issues, according to Optimism developers.
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Bedrock, compatibility, data compression, deposit times, design principles, Developers, EIP-1559, end-users, Ethereum, Ethereum Virtual Machine, Ethereum-centric, EVM, Goerli testnet, historic chain data, L1 re-orgs, L2, Layer two, lower fees, maintain compatibility, modular, modular components, multi-chain future, node performance, OP Stack, Optimism, proof systems, proposal, R&D, regenesis, scaling network, transfer speed, Upgrade
What are your thoughts on Optimism’s upcoming Bedrock upgrade and its potential impact on the future of the L2 network? Share your thoughts about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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