Developers layer-2 network Optimism proposed a protocol upgrade. The native OP token rose sharply.
We’re extremely excited to put this historical proposal in front of the Token House. 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.https://t.co/urk6U9aABj pic.twitter.com/ebxsvtBM8N
— Optimism (✨🔴_🔴✨) (@optimismFND) February 1, 2023
«Optimism Foundation с гордостью предлагает первое обновление протокола Bedrock», — говорится в сообщении.
According to the team, the upgrade will improve performance and functionality. Bedrock implements a modular architecture, splitting the OP Stack into three components:
- consensus;
- execution;
- settlement.
The Bedrock release implements a modular architecture, separating the OP Stack into 3 components: consensus, execution, & settlement.
This is a huge win—paving the way for a multi-client future, & allowing for maximal use of Ethereum’s battle-tested code.
Fancy diagrams abound! pic.twitter.com/33uRbjOQjF
— Optimism (✨🔴_🔴✨) (@optimismFND) February 1, 2023
If the community backs the initiative, Bedrock will be activated on March 15. Full node operators will need to prepare for the upgrade.
Meanwhile, BUSD developers announced the deployment of the stablecoin on the Optimism network.
#Binance completes the integration of Binance-Peg #BUSD on the @optimismFND $OP Network, with Deposits and Withdrawals now open.
— Binance (@binance) February 2, 2023
Optimism developers said they rescheduled the Bedrock vote to Cycle 11 (March 2 — April 5) to address bugs uncovered by vigilant community members.
Update for the Collective: We have rescheduled the Bedrock upgrade vote to Cycle 11 (March 2 — April 5) to resolve bugs uncovered by vigilant community members as part of the Bedrock bug bounty contest.
— Optimism (✨🔴_🔴✨) (@optimismFND) February 17, 2023
In the last 24 hours, the OP token fell 3.9% (CoinGecko). At the time of writing, the asset was trading at around $2.72.
Against this backdrop, OP rose 22.6% in the last 24 hours. Over a month, the gain reached 192.7%, according to CoinGecko. The asset briefly traded above $2.90, with the current price around $2.70.
In January, the daily transaction volume on the layer-2 network Optimism fell to 238,000 from a recent level of 800,000. The drop coincided with the end of the Optimism Quest incentive program for NFT users.
Earlier, the network surpassed Arbitrum in daily activity. However the latter remained the leader by the volume of assets under management.
As ForkLog noted in an analytical report, the rise of L2 solutions in 2022.