Optimism Team Activates Bedrock Update

The developers of the Ethereum-layer-2 network Optimism completed the planned update named Bedrock.

✅OP Mainnet’s migration to Bedrock has concluded and the Bedrock sequencer has started up.

Key external OP Mainnet infrastructure is starting to come back online. You can track infrastructure status here:https://t.co/XTtaArdI03

— Optimism (✨?_?✨) (@optimismFND) June 6, 2023

According to the status page, the upgrade process started on June 6 at 22:00 (Kyiv/Moscow time) and finished on June 7 at 04:48. As of writing, all key network infrastructure was operating stably.

Among the improvements implemented via Bedrock are:

• Fees reduced by about 10% by reducing data fees for the L1 network to a theoretical minimum;
• Deposit confirmation time reduced to approximately 3 minutes — previously users could expect up to 10 minutes;
• Node performance improved by enabling transactions to be executed in a single consolidated block.

One of the upgrade’s aims was to achieve maximum parity with Ethereum. This includes using existing base-network code, infrastructure and modular architecture, which allows inheriting proven, secure solutions and improving interoperability.

The Optimism (OP) token, ahead of Bedrock activation, rose to $1.54. After a correction, the asset trades around $1.45. The daily gain was 3.5%, Bitcoin rose 4.1% over the period, and market capitalization increased by 3% (CoinGecko).

Earlier in February, developers submitted to the community a proposal to implement Bedrock. In response, the OP price jumped by more than 20%.