Optimism ushers in a new era with the successful completion of its highly anticipated “Bedrock” upgrade. This transformative enhancement, announced by OP Labs, the network’s developer, brings forth accelerated deposit times, decreased layer-1 fees, and fortified security measures.
The implementation of these advancements marks a pivotal step in the developer’s ambitious mission to establish a “Superchain” comprised of scalable Web3 networks, leveraging the cutting-edge Optimism OP Stack software.
Optimism Bedrock: Revolutionizing Efficiency & Security
According to an announcement by Optimism on Twitter, the network now possesses the ability to identify chain reorganizations occurring on Ethereum, seamlessly reflecting these reorgs in users’ Optimism balances.
This revolutionary development has paved the way for deposit times to be dramatically reduced to a mere one minute, in stark contrast to the previous average wait time of 10 minutes.
✅OP Mainnet’s migration to Bedrock has concluded and the Bedrock sequencer has started up.
Key external OP Mainnet infrastructure is starting to come back online. You can track infrastructure status here:https://t.co/XTtaArdI03
— Optimism (✨🔴_🔴✨) (@optimismFND) June 6, 2023
The significant time savings are achieved by eliminating the need to achieve finality on L1 before processing deposits from Ethereum to Optimism.
Streamlined Gas Optimization
Recognizing the importance of affordability and accessibility, the Bedrock upgrade takes a stride towards a more user-friendly ecosystem. By leveraging the network’s innovative gas optimization techniques, the development team behind Bedrock has successfully slashed data availability fees on Ethereum by a remarkable 40%.
This momentous reduction is seamlessly passed on to Optimism users in the form of significantly lowered gas fees. As a result, participants can now transact on the network with increased efficiency and cost-effectiveness, making Optimism an even more attractive platform for decentralized activities.
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Fortifying Security With 2-Step Withdrawal Process
Ensuring the utmost security of user assets has always been a paramount concern for the Optimism team. With the implementation of Bedrock, the network introduces a robust two-step withdrawal process, explicitly designed to mitigate the risk of potential bridge exploits.
By implementing this comprehensive security measure, Optimism takes a proactive stance in safeguarding user funds and fortifying its infrastructure against potential vulnerabilities. As a result, participants can engage with the network confidently, knowing that their assets are shielded by cutting-edge security features.
A Promising Future
With the arrival of the Bedrock upgrade, Optimism sets a new benchmark for efficiency, affordability, and security within the realm of decentralized networks. The remarkable reduction in deposit times, coupled with substantial gas fee optimizations, ensures that users can interact with the platform seamlessly while enjoying cost savings.
Furthermore, the implementation of a robust two-step withdrawal process offers an additional layer of protection, solidifying Optimism’s commitment to maintaining a secure and trusted environment.
As the network continues its journey towards building a Superchain of scalable Web3 networks, powered by the state-of-the-art OP Stack software, the future looks promising for Optimism and its growing community of users.
Featured image from Optimism Docs