Optimism’s ‘Bedrock’ Hard Fork Achieves Success, Significantly Shortening Deposit Times and Lowering Layer-1 Fees

Optimism's 'Bedrock' Hard Fork Achieves Success, Significantly Shortening Deposit Times and Lowering Layer-1 Fees

The Optimism Network’s “Bedrock” Upgrade

The Optimism network concluded its “Bedrock” upgrade on June 7, achieving significant improvements in deposit times, layer-1 fees, and additional security features, as announced by OP Labs, the network developer.

Reduced Deposit Times and Lowered Fees

According to OP Labs CEO Karl Floersch, the Bedrock upgrade incorporates various gas optimizations, resulting in a 40% reduction in data availability fees on Ethereum. As a result, users will experience lower gas fees on the Optimism network.

Improved Deposit Times

With the upgrade, the network can now recognize chain reorganizations (reorgs) on Ethereum, reflecting these changes in the user’s Optimism balance. This advancement has enabled deposit times to be reduced to just one minute. Previously, it took an average of 10 minutes for deposits from Ethereum to finalize on L1.

Enhanced Security Measures

Bedrock also introduces a two-step withdrawal process, enhancing security and mitigating potential bridge exploits.

Future Development and the Superchain

Aside from the immediate improvements, the Bedrock upgrade paves the way for further development of the OP Stack. The ultimate goal is to build a multi-network “Superchain” by utilizing Optimism’s OP Stack software. This software includes modular proof systems that empower developers to create and customize their own blockchain networks. The validator component, known as “op-geth,” contains less than 1,000 lines of code that differ from Ethereum’s version, potentially enabling a seamless transition for validators.

Base Network’s Integration

In related news, Coinbase’s Base network announced on February 23 that it will join the Superchain. They have also outlined their roadmap for the mainnet launch on May 24.