- Their number has grown from 300,000 to over 500,000 per day
- At the same time, gas prices fell by half.
The number of transactions on the Optimism network increased by 67% after the Bedrock update. This is reported by Nansen analysts. Prior to the upgrade, the network averaged less than 300,000 transactions per day. By mid-June, that metric had risen to over 550,000 transactions. And gas prices have been cut in half.
The experts also ranked the Top 10 projects on Optimism by 7-day transactions. Here he is.
Probably, the decrease in commissions was one of the reasons for the increase in transactions. Most of the cost of using Optimism came from the fees required to publish transfer data on the Ethereum mainnet. However, the Bedrock update brought important changes. It lowered transaction fees with an intelligent batch compression strategy that uses Ethereum as the layer of data availability.
The approach taken by Optimism is as follows. It combines multiple transactions that are recorded on the Ethereum blockchain as a single transaction. This strategy uses OP Stack, a modular blockchain tool that allows developers to create their own blockchains.
The Bedrock update was released on June 7th. Read more about it in this article.