The developers of the Optimism layer 2 Ethereum network have completed a planned upgrade called 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 ended on June 7 at 4:48. At the time of writing, all key network infrastructure is stable.
Some of the improvements implemented through Bedrock include:
- reduction of commissions by approximately 10% due to the reduction of L1 network data fees to a theoretical minimum;
- reduction of the deposit confirmation time to approximately 3 minutes – previously the user could wait up to 10 minutes;
- improving the performance of nodes by implementing the ability to perform transactions in one summary block.
One of the goals of the upgrade was to achieve the maximum equivalence of Ethereum. This includes leveraging existing core network code, infrastructure, and modular architecture to inherit proven, secure solutions and improve interoperability.
The Optimism (OP) token rose to $1.54 ahead of the Bedrock activation. After the correction, the asset is trading at levels around $1.45. Growth per day was 3.5%, bitcoin added 4.1% over this period, market capitalization increased by 3% (CoinGecko).
Recall that in February, the developers submitted a proposal to the community to update Bedrock. Against this background, the price of OP jumped by more than 20%.
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