Optimism’s major ‘Bedrock’ upgrade set for June 6
Layer 2 scaling solution Optimism is set to undergo its highly anticipated Bedrock upgrade on June 6. The move is expected to result in significantly reduced transaction fees, provide greater network security and enhanced compatibility with Ethereum.
The Optimism team stated via a May 15 Twitter thread that the network would be down for two to four hours on June 6 as the upgrade goes through.
“On upgrade day, transactions, deposits, and withdrawals will be unavailable for the duration of the downtime, and the OP Mainnet chain will not be progressing,” an accompanying blog post reads.
The official date of OP Mainnet’s upgrade to Bedrock has been set: June 6, 2023 at 16:00 UTC!The upgrade will require 2-4 hours of downtime for OP Mainnet.Visit Mission Control for full details on what to expect:https://t.co/o6UjKZaVKy
Bedrock was announced back in May 2022, and it marks the first major network upgrade that was voted through by the Optimism governance council’s Token House.
Optimism is slated to benefit from lower transaction fees, which OP Labs — the network’s protocol development unit — estimates wildrop by 47%.
“Bedrock improves on its predecessor by reducing transaction fees using optimized batch compression and Ethereum as a data availability layer; shortening delays of including L1 transactions in rollups by handling L1 re-orgs more gracefully,” the Optimism community’s Bedrock explainer reads.
The Bedrock upgrade will bring a 47% reduction in protocol costs and security fees to Optimism Mainnet Engineer extraordinaire @trianglesphere explains how in the latest dev blog post https://t.co/MvcG04shEB
Adding to that, the network will also see shorter deposit times, with Optimism going from roughly 10 minutes to confirm a
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