- Optimism revealed that the Bedrock upgrade would hit mainnet in a few weeks.
- Bedrock is set to improve the security and resilience of the Optimism bridge.
- Optimism mainnet will be down for 2-4 hours on upgrade day.
Ethereum Layer-2 scaling solutions have come a long way in recent years. Optimism is one of the most successful and popular L2s, with billions of dollars in TVL and a strong community.
But Optimism is set to become even more technologically efficient with the Bedrock update in the next few weeks.
Optimism Reveals Date for Bedrock Upgrade
Optimism (OP) has announced the date for its long-awaited Bedrock upgrade.
Optimism Foundation said on Monday that the Bedrock upgrade would hit Optimism mainnet on June 6, 2023, at 16:00 UTC. On upgrade day, Optimism will suspend transactions, deposits, and withdrawals for 2-4 hours, and Optimism mainnet will not be progressing.
But what will the Bedrock upgrade change for Optimism?
Security, Speed, and Other Improvements
Bedrock is the first major protocol upgrade that the Optimism DAO voted to pass. According to Optimism, the new upgrade will introduce a flurry of improvements.
“Bedrock will improve the security and resilience of the OP Mainnet bridge. Bedrock is designed with the most minimal diff on Ethereum possible. Ethereum equivalence + minimized complexity = less room for bugs, easier for ecosystem devs to contribute.”
Optimism also added that Bedrock “sets the stage for the Superchain, enabling more and more new OP Chains like Base.”
OP is down 3% in the past 24 hours. It’s currently trading at $1.62, according to data from CoinGecko.
Optimism is the second-largest Ethereum Layer-2 scaling solution. According to data from L2beat, Optimism has $1.9 billion in total value locked (TVL) and has a 19.52% market share.
On the Flipside
- Optimism is set to unlock over 154 million OP tokens, or 3.6% of the total supply, in a couple of weeks. This is set to decrease the price of OP significantly.
Why You Should Care
Optimism is one of the most important and used Ethereum Layer-2 scaling solutions. Optimism becoming more secure and resilient is a net positive for the whole crypto industry.
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