The Optimism network recently announced the successful conclusion of its “Bedrock” upgrade, which promises to reduce deposit times, lower layer-1 fees, and tighten security features on the network. The upgrade forms part of a series of network overhauls intended to create a “Superchain” of scalable Web3 networks built using Optimism’s OP Stack software.
According to an announcement from the network’s developer, OP Labs, the Bedrock upgrade implements multiple gas optimizations that significantly reduce the network’s data availability fees on Ethereum by 40%, which are then passed on to the users in the form of lower gas fees on Optimism.
One of the key features of the upgrade is that it enables Optimism to recognize chain reorganizations (reorgs) on Ethereum while reflecting these reorgs in the user’s Optimism balance. Consequently, deposit times have been reduced to just one minute. Previously, deposits from Ethereum to Optimism used to take an average of 10 minutes since they needed to gain finality on L1.
Bedrock also introduces a two-step withdrawal process intended to help prevent bridge exploits. Besides, OP Labs CEO Karl Floersch has stated that this upgrade opens the door for further development of the OP Stack in the future, with the ultimate goal of building a multi-network “Superchain”. The software’s validator component, called “op-geth,” has less than 1,000 lines of code that differ from Ethereum’s version, which makes it convenient for validators to switch to using the OP Stack software.
Coinbase’s Base network announced on February 23 that it would become part of the Superchain, while on May 24, it announced plans for its mainnet launch. The Superchain features “modular proof systems” that give developers the flexibility to create and customize their own blockchain networks, thereby improving the overall interoperability of the network.
In a conversation with Cointelegraph, Floersch emphasized that the Bedrock upgrade is a significant milestone, considering it paves the way for the development of a more extensive “Superchain” architecture. He added that this upgrade would enable more efficient data transmission, faster transaction processing, and increased security, leading to more practical applications of Web3 technology.
Floersch believes that scaling is a crucial piece of the puzzle for the web3 ecosystem, and the Bedrock upgrade, alongside other upgrades, will enable the building of more layers of infrastructure to support a variety of use cases. In this way, he believes this will foster the development and growth of the ecosystem as a whole.
The Bedrock upgrade is expected to initiate a new wave of innovation in the blockchain community, with developers increasingly building on the Optimism network. As more developers adopt the OP Stack software, the broader blockchain community’s vision of a more versatile, interconnected, and efficient superchain becomes closer to reality. This would, in turn, enable a vast range of Web3 applications to thrive through faster, cost-effective, and secure transactions.
The success of this Bedrock upgrade comes amid increasing concerns about high gas fees, network congestion, and slow transaction processing on the Ethereum network. These issues have spurred a wave of development activities aimed at improving the overall efficiency of the network. However, Optimism’s Bedrock upgrade is uniquely positioned to address many of these efficiency-related drawbacks, thereby paving the way for the growth and adoption of Web3.
In conclusion, the Optimism network’s “Bedrock” upgrade promises to revolutionize the scalability, efficiency, and security of the Web3 ecosystem. Its implementation of multiple gas optimizations, ability to recognize chain reorganizations, modular proof systems, and the two-step withdrawal process all contribute to increasing the efficiency and security of the network. With the successful completion of the upgrade, the stage is now set for a new wave of development activities that could take the Web3 ecosystem to greater heights.