2023-05-17 21:10:10
© Reuters Optimism reveals blockchain update date
CriptoFácil – The Bedrock release – which is a complete rewrite of the entire rollup framework – is expected to be the biggest update ever released on the Optimism mainnet, with a focus on reducing fees and improving compatibility with .
According to the official announcement, the upgrade will require two to four hours of downtime for the OP Mainnet, during which time there will be an outage to the blockchain and infrastructure while the old sequencer is shut down and the Bedrock sequencer is started.
Transactions, deposits and withdrawals will also remain unavailable during this period, and the blockchain will not move forward. Although read access on most OP Mainnet nodes remains online, users may encounter a slight decrease in performance during the migration process.
Optimism
Bedrock seeks to improve on its predecessor by reducing transaction fees with the help of optimized batch compression and Ethereum as a data availability layer. In addition, it focuses on reducing delays in including layer 1 transactions in rollups, handling their reorganizations in a more “elegant” way.
In addition to improving node performance by removing technical debt, the upgrade will also enable modular proofing systems through code reuse.
“We are extremely excited to bring Bedrock to OP Mainnet. The OP Labs protocol team has been working very hard for over a year to bring this complete restructuring of the OP Stack into production,” said the project team.
The development had no impact on the price of its native OP token, which was down nearly 4% over the last 24 hours.
blockchain update
This move comes as competition within the Ethereum layer 2 ecosystem intensifies. Optimism has enjoyed success, taking an early lead over the layer 2 industry with its Optimistic rollup solutions that offer high compatibility with the Ethereum Virtual Machine (EVM).
However, its market dominance has been threatened by the EVM-compliant zero-knowledge rollups (ZkEVMs), which have gained great prominence lately.
Optimism has not seen significant growth in its total locked-in value (TVL) over the course of this year and currently sits at around $1.71 billion.
In addition to emerging competition from ZkEVMs, the buzz around the recent Arbitrum airdrop could be another factor in Optimism’s share decreasing.
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