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Layer 2 scaling solution Optimism is preparing for its much-anticipated Bedrock upgrade on June 6. This upgrade is projected to lead to significantly lower transaction fees, enhanced network security, and improved compatibility with Ethereum.
The Optimism team announced via a Twitter thread on May 15 that the network will experience downtime for two to four hours on June 6 during the upgrade process.
“On upgrade day, transactions, deposits, and withdrawals will be unavailable for the entire duration of the downtime, and the OP Mainnet chain will not be progressing,” a related blog post states.
The official date for OP Mainnet’s upgrade to Bedrock has been confirmed: June 6, 2023, at 16:00 UTC!
The upgrade will necessitate 2-4 hours of downtime for OP Mainnet.
Visit Mission Control for comprehensive details on what to expect: https://t.co/o6UjKZaVKy— Optimism (✨_✨) (@optimismFND) May 15, 2023
Bedrock was first announced in May 2022 and represents the initial significant network upgrade that received approval from the Optimism governance council’s Token House.
Optimism is expected to gain from reduced transaction fees, which OP Labs — the network’s protocol development team — anticipates will decrease by 47%.
“Bedrock enhances its predecessor by lowering transaction fees through optimized batch compression and utilizing Ethereum as a data availability layer; it also reduces delays in including L1 transactions in rollups by managing L1 re-orgs more effectively,” the Optimism community’s Bedrock explainer indicates.
The Bedrock upgrade will deliver a 47% reduction in protocol costs and security fees to Optimism Mainnet.
Engineer extraordinaire @trianglesphere elaborates on this in the latest dev blog post: https://t.co/MvcG04shEB— OP Labs (@OPLabsPBC) March 2, 2023
Additionally, the network will experience shorter deposit times, with Optimism reducing the confirmation time for deposits from approximately 10 minutes to just three minutes, according to the explainer.
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Node software performance will be “significantly enhanced by allowing the execution of multiple transactions within a single rollup ‘block’ instead of the previous ‘one transaction per block’ approach used in the earlier version.”
Another significant enhancement pertains to the network’s compatibility with the Ethereum Virtual Machine (EVM), the essential software that executes Ethereum smart contracts.
With Bedrock, the network will eliminate “multiple deviations” from Ethereum and the EVM that currently exist with Optimism, including variations in code, design patterns, and transaction per block models. “Bedrock also introduces support for EIP-1559, chain re-orgs, and other Ethereum features available on L1,” the explainer states.
The Bedrock upgrade will bring a 47% reduction in protocol costs and security fees to Optimism Mainnet.
Engineer extraordinaire @trianglesphere explains how in the latest dev blog post: https://t.co/MvcG04shEB— OP Labs (@OPLabsPBC) March 2, 2023
ZK Sync era overtakes Optimism?
The forthcoming transition to Bedrock occurs at a time when EVM-compatible zero-knowledge rollups (ZkEVMs) have been gaining attention over optimistic rollup solutions like Optimism.
Related: Ethereum’s Beacon Chain updated after finality issues
Data from L2beat indicates that Matter Labs’ recently launched ZkEVM ZKSync Era has surpassed Optimism in terms of network activity.
In the last 30 days, ZKSync Era recorded 7.85 million transactions, while Optimism had 7.66 million. In the past 24 hours, ZKSync Era also exceeded Optimism in average transactions per second (TPS), achieving 6.80 TPS compared to Optimism’s 2.98 TPS.
The only interesting trend in this uneventful mid-May on Ethereum is the growth of @zksync Era, which is now consistently processing more transactions than @optimismFND and will soon pose a challenge to @arbitrum.
Chart from: @l2beat pic.twitter.com/9dSNHtZMEC— funnyking.eth zkHODLER (@PaoloRebuffo) May 15, 2023
Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains, Polygon Miden founder
