Layer-2 scaling solution Optimism will roll out the much-anticipated Bedrock upgrade on June 6th.
This highly anticipated upgrade will deliver a number of network-wide improvements. The Bedrock update is expected to significantly lower transaction fees, provide greater network security and improve compatibility with Ethereum.
Bedrock Update Will Bring Many New Features to the Network
The Optimism team said on Twitter on May 15 that the network will be down for two to four hours on June 6th.
Announced in May of 2022, Bedrock represents the first major network upgrade voted on by the Optimism governance council’s Token House. Optimism is planned to benefit from 47 percent lower transaction fees than OP Labs, the network’s protocol development unit, estimates.
In a statement from the Optimism community regarding the update: “Bedrock reduces transaction fees through Ethereum as an optimized layer of bulk compression and data availability. It handles Layer-1 reorganizations more elegantly, reducing the delays to include these operations in the totals.”
In addition, deposit times on the network will also be shortened, reducing the time it takes for Optimism to confirm a deposit from around 10 minutes to just three minutes. Another key development will be regarding the network’s compatibility with the Ethereum Virtual Machine (EVM), the core piece of software that drives Ethereum smart contracts.
With Bedrock, the network will eliminate multiple aberrations from Ethereum and EVM such as different code, design patterns, and transaction-per-block models currently available with Optimism.
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