Optimism Advances Superchain Development with Execution of Bedrock Hard Fork June 7, 2023 June 7, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJune 7, 2023 by Kelly Cromley

Optimism Advances Superchain Development with Execution of Bedrock Hard Fork

The Bedrock upgrade of Optimism, a scaling solution for Ethereum’s layer 2, has been successfully implemented, thereby advancing the blockchain’s goal of transforming into a “Superchain” composed of numerous interconnected mini-blockchains. According to Karl Floersch, the CEO and co-founder of OP Labs, the organization in charge of the blockchain, this represents a significant advancement for the OP mainnet.

The proposed upgrade, commonly referred to as a hard fork, aims to improve the chain’s performance by shortening deposit-confirmation periods from 10 minutes to 1 minute and by decreasing gas fees by 40 percent. As per the Optimism Foundation’s tweet, the software upgrade that took place on Tuesday commenced at 16:00 UTC (12:00 p.m. ET) and was completed by 18:50 UTC (2:50 p.m. ET). At present, a number of crucial components of Optimism’s external infrastructure are in the process of being restored. As per the Foundation’s assessment, the public endpoint is anticipated to become operational at 20:00 UTC (4:00pm ET).

Bedrock has the responsibility of improving the proof modularity of its OP Stack. The OP Stack is an open-source platform designed for developers to create customizable blockchains with Optimism. The improvements made to the OP stack enable the utilization of both validity proofs and defect proofs. Furthermore, Bedrock has converted Optimism into a multi-client ecosystem, offering a minimum of two alternatives for the client software utilized to manage the network.

As per Floersch’s analysis, Optimism is poised to become the inaugural layer 2 solution to operate on a multi-client ecosystem. This development bolsters the blockchain’s resilience by mitigating the risk of network disruptions. In the event of a software glitch in one client, the blockchain can depend on other users running different client software to sustain its functionality. After the implementation of the Bedrock upgrade, there was a 10% surge in the value of $OP, which is the native token for Optimism, within the last twenty-four hours.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.