Fun

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March 

News Feed - 2023-02-03 05:02:33

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March 


The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in March. The upgrade, named “Bedrock,” aims to increase transfer speed, lower fees, and enhance compatibility with the Ethereum Virtual Machine (EVM). The Optimism Foundation stated in its proposal, “The Bedrock upgrade is a major step towards a multi-chain future.” Optimism’s Bedrock Upgrade: Optimizing Transfer Fees and Improving Node Performance


Optimism, the L2 Ethereum scaling solution, plans to upgrade its network in mid-March 2023 with a new ruleset change called Bedrock. On Feb. 1, 2023, the Optimism Foundation tweeted about the proposal, stating, “The Optimism Foundation has proposed the first protocol upgrade to the Optimism Collective: Bedrock.” In another tweet, the official Optimism Twitter account expressed excitement about presenting the proposal to the Token House. Optimism’s tweet adds: 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.


The Optimism Foundation’s upgrade proposal details the first official release of the OP Stack, a set of modular components powering Optimism. Bedrock aims to improve transfer fees through optimized data compression, reduce deposit times by handling L1 re-orgs more efficiently, enable modular proof systems, and enhance node performance. The proposal highlights that Bedrock aims to maintain close compatibility with Ethereum.


The Bedrock upgrade, the first official release of the OP Stack, will support Ethereum-centric design principles like EIP-1559 and modularity. According to Optimism’s Twitter account, the upgrade is expected to take approximately 4 hours and will not require a “regenesis.” End-users of Optimism do not need to take any action, and historic chain data will remain accessible after the upgrade. The Goerli testnet for Optimism has already undergone a successful upgrade to Bedrock without major issues, according to Optimism developers. Tags in this story Bedrock, compatibility, data compression, deposit times, design principles, Developers, EIP-1559, end-users, Ethereum, Ethereum Virtual Machine, Ethereum-centric, EVM, Goerli testnet, historic chain data, L1 re-orgs, L2, Layer two, lower fees, maintain compatibility, modular, modular components, multi-chain future, node performance, OP Stack, Optimism, proof systems, proposal, R&D, regenesis, scaling network, transfer speed, Upgrade


What are your thoughts on Optimism’s upcoming Bedrock upgrade and its potential impact on the future of the L2 network? Share your thoughts about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Ethereum Could Benefit From Stealth Addresses Implementation, Says Vitalik Buterin TECHNOLOGY | Jan 23, 2023 Ethereum Developers Prepare to Deploy Shanghai Public Testnet, Focus on Staked Ether Withdrawals TECHNOLOGY | Jan 10, 2023


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSmart Contract Token Market Soars to $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse Next articleOkx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players Show comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards


Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals

News Feed

Bitcoin, Ethereum Technical Analysis: Bitcoin Consolidates After Yesterday’s Rally
Bitcoin, Ethereum Technical Analysis: Bitcoin Consolidates After Yesterday’s Rally Hump-day provided a hurdle for cryptocurrency prices, which mainly consolidated, after a strong
Worst month since 2022 bear market? 5 things to know in Bitcoin this week
William Suberg14 hours agoWorst month since 2022 bear market? 5 things to know in Bitcoin this weekBitcoin is on course for 12% losses in April, and with the monthly close just days away, it could end up sparking the wea
Strategist at Southeast Asia’s Largest Bank DBS Says Bitcoin Is Unique Regardless of Price
Strategist at Southeast Asia"s Largest Bank DBS Says Bitcoin Is Unique Regardless of Price An investment strategist at Southeast Asia’s largest bank, DBS, says bitcoin is un
Bitcoin whales in accumulation phase, with BTC halving just a week away
Prashant Jha13 hours agoBitcoin whales in accumulation phase, with BTC halving just a week awayThe Bitcoin halving is scheduled for April 20, reducing the BTC block reward to 3.125 BTC per block.3839 Total views20 Total
Zhiyuan Sun7 hours agoBinance halts onboarding of new UK usersThe move comes after the Financial Conduct Authority imposed restrictions on its United Kingdom partner REBS.2860 Total views8 Total sharesListen to article 0
US manufacturing firms are flocking to the metaverse — WEF
Ciaran Lyons7 hours agoUS manufacturing firms are flocking to the metaverse — WEFAccording to the World Economic Forum, the automotive, energy, software, aerospace and defense industries are leading the way for industr
Ciaran Lyons18 hours agoCZ challenges US gov’t attempt to restrict travel before sentencing dateFormer Binance CEO Changpeng “CZ” Zhao has contested the U.S. Department of Justice’s assertions that he is a flight
Capital One Files Patent for Cryptocurrency Market AI Prediction System
Capital One Files Patent for Cryptocurrency Market AI Prediction SystemMajor U.S. financial services company Capital One has filed a new patent application for a cryptocurrency anal
Crypto investment funds intake $130M, while filings reveal new spot BTC ETF purchasers
Nancy Lubale2 hours agoCrypto investment funds intake $130M, while filings reveal new spot BTC ETF purchasersInflows to crypto investment funds top $130 million, and 13F filings reveal new institutional investors’ spot
Derek Andersen6 hours agoBinance shutting down European Visa debit card in DecemberMastercard ended its partnership in Latin America and Bahrain with Binance in September, possibly due to the regulatory environment.1820
Report: Quebec’s Mohawk Council of Kahnawake Seeks Energy to Power Crypto-Mining Opportunities
Report: Quebec"s Mohawk Council of Kahnawake Seeks Energy to Power Crypto-Mining Opportunities According to a report from Canada’s Local Journalism Initiative, members of th
Analyst Reveals Key Ethereum Support Zone Amid $4,000 Price Struggle
Este artículo también está disponible en español. Following a market rebound, Ethereum (ETH) has shown only sideways movement in the past few days as the battle to break