Announced in May 2022, the Bedrock Upgrade is the first official release of OP Stack, a set of free and open-source modular components of the Optimism network scheduled for Q2 of 2023 to power Optimism. The Optimism team announced on Twitter on May 15 that the network will be down for an estimated 2 to 4 hours on June 6, 2023, with the Bedrock Upgrade taking place. According to the posts, deposits and withdrawals will not be made3 on the day of the upgrade, and the progress of the OP Mainnet blockchain will also be halted.
Bedrock is built to reuse the existing code on Ethereum and to be modular and upgradable to make Optimism as close to 100% Ethereum equivalent as possible.
With the Bedrock Upgrade, the following will be possible:
- Lower transaction costs,
- Faster processing times,
- Better compatibility with the Ethereum Virtual Machine (EVM).
New Features to Be Added to Optimism With the Bedrock Upgrade
With the Bedrock Upgrade, deposit times on the network will be significantly shortened, and Optimism will reduce the time it takes to confirm a deposit from about 10 minutes to 3 minutes. OP Labs states that transaction fees will drop by an estimated 47%.
One of the goals of the Bedrock Upgrade is to make Optimism the maximum equivalent of the Ethereum Virtual Machine (EVM). Multiple deviations between the EVM and Optimism, such as different transaction code and per-block transaction models, will be eliminated. For example, unlike the old network that generates a block for every transaction, the Bedrock network will generate new blocks every two seconds. This will result in a significant improvement in EVM compatibility, the network’s core software component that drives Ethereum smart contracts.
Unlike the old network, Bedrock validator blocks always derive from L1. This means that if L1 experiences rearrangement, L2 will rearrange itself to fit L1’s state. Bedrock will also add support for EIP-1559, chain refactorings, and other Ethereum features found in L1.
What Is Optimism (OP)?
Optimism is a Layer-2 scaling solution for the Ethereum mainnet. It helps reduce transaction fees and times on the Ethereum blockchain.
What Does Optimism (OP) Offer?
Optimism was created to reduce transaction fees and process transactions faster while taking advantage of the security of the original Ethereum chain. Optimism, a Layer-2 scaling solution built on Ethereum to provide a smoother user experience, is an Optimistic Rollup project. Optimism uses the Fraud Proof mechanism. Fraud Proof is a verification method that works to ensure system security. In this method, which is used in Optimistic Rollups, assertions are “primarily” considered correct and are sent directly to the Ethereum blockchain if there is no objection that they are not correct.