Crypto News

Now That Optimism ‘Bedrock’ Hard Fork Is Done, What Can We Expect?

Now That Optimism ‘Bedrock’ Hard Fork Is Done, What Can We Expect?
© Copyright Image: NewsBTC

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. 

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.

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

Read more: https://www.newsbtc.com/news/now-that-optimism-bedrock-hard-fork-is-done-what-can-we-expect/

Text source: NewsBTC

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
Buy & sell Crypto in minutes

Join BINANCE!

The world's largest crypto exchange

You're just steps away from receiving your reward.

The most complete Crypto News Center.

Search Stories:

Latest top stories