Bedrock is a technical upgrade on Optimism, making it more compatible with Ethereum and reducing the amount of code in the OP Stack. This is crucial to attract developers to Optimism as they are the key agents driving ecosystem development.
OP Stack is not just a Rollup Software Development Kit (SDK) equivalent to the plain EVM. It includes all the infrastructure capable of supporting Optimist, Superchain, and Ethereum upstream.
Optimism deployed the Bedrock Upgrade on June 6th after being fully prepared on all fronts.
The top priority for the Bedrock update by the OP Labs engineering team is to reduce the amount of code in the OP Stack. Each line of code incurs costs to maintain, and it also introduces the opportunity for errors. The fewer the code in the system, the less costly it is to maintain and the safer it becomes.
OP Stack achieves this minimal codebase by reusing as much code from Ethereum as possible. In fact, this also enhances the security of Optimism. The Layer 2 codebase is relatively new and is likely to have more bugs compared to the codebase that has been produced and tested in over 8 years of Ethereum.
To achieve nearly 100% Ethereum compatibility, it relies on reducing the amount of code and leveraging code from the mentioned mainnet. This is great for developers and the ecosystem, allowing a large number of Ethereum developers to switch to Optimism without having to learn additional code adjustments. OP Labs engineers can support both Ethereum and Optimism. There are no barriers between Layer 1 and Layer 2.
Module capability is a highlight of the Bedrock release, making it easy to swap different components within the OP Stack. This flexibility makes building on Optimism truly exciting because it opens the door to endless possibilities by customizing modules for specific purposes. In this way, Bedrock allows for testing and updating significant innovations in the future on the OP Stack protocol.
This upgrade took place with a 4-hour downtime on June 6th. During this time, transactions, deposits, and withdrawals were temporarily suspended. In addition to the mentioned three new improvements, Bedrock brings many benefits to the Optimism ecosystem, including:
- Approximately 47% cost reduction through the implementation of batch compression strategies and L2 compatibility for EIP-1559.
- Removal of gas fees related to EVM execution.
- Shorter time to transfer assets from L1 to L2.
- Improved module and node performance through a 15 gigabyte reduction in state growth per year, faster peer-to-peer network, and 50 times faster node synchronization.
- Support for certain related verification proofs (including Zero-Knowledge technology).
- Bringing benefits to project developers on the Optimism network, saving time on testing and upgrading.
However, Bedrock also has some drawbacks to consider. Due to its similarity to Ethereum, Optimism may face the risks that Ethereum is currently facing. Additionally, Bedrock needs to address issues to compete with other Layer 2 solutions in the market and maintain the network after Bedrock.
Not only Optimism has updates, but Ethereum will also have additional support updates for Optimism in particular and all Layer 2 solutions built on Rollup technology in general, including:
- EIP 4488: An update that increases block size and reduces fees for combined Layer 2s, along with Bedrock, transaction fees on Optimism will be significantly reduced.
- EIP 4844, also known as Proto Danksharding, when combined with Bedrock, has the potential to bring transaction fees on Optimism down to $0.05 per transaction, which is the ideal fee level that Vitalik Buterin has mentioned for Layer 2 solutions.
In the future, Optimism also plans to deploy Proto-Danksharding (EIP 4844) in the fourth quarter of 2023 on the mainnet. This is a significant upgrade aimed at reducing data storage costs for rollup protocols.
With Bedrock, Optimism not only improves performance and reduces operating costs but also provides favorable conditions for integrating EIP 4844 and benefiting from those improvements. This update represents a significant development for Optimism and contributes to the scalability of the Ethereum network.
Superchain is an important and ambitious development goal. A crucial part of this development is Coinbase actively contributing to building Superchain through the development of an op-chain called Base. Base has gained attention from the community since its announcement by Coinbase and is currently under development.
Coinbase has joined OP Labs as a major developer of the OP Stack, and their plan is to release an alpha version of a fraud-proof machine and a verification set by the end of this year. This sets the foundation for building and participating in Superchain. Coinbase recognizes that building on the OP Stack and participating in Superchain can bring significant profits. They will develop on-chain products exclusively for Coinbase, expanding their business beyond their existing user base of over 110 million customers.
Recently, Binance announced the integration of Tether (USDT) on the Arbitrum One and Optimism networks as part of their development strategy. Binance has successfully integrated Tether (USDT) on both networks and has enabled the deposit feature for Tether (USDT).
Overall, the development of Superchain and related projects such as Base and the integration of Tether (USDT) are important steps in expanding and developing the ecosystem. Companies like Coinbase and Binance are seizing this opportunity to create new products and services, while generating benefits and value for users and the blockchain community.
In conclusion, Bedrock represents a significant milestone for Optimism, providing improved user experience and attracting more developers. By addressing the limitations of the initial version, Bedrock aims to enhance the scalability of the Ethereum network.
Read more Imota Cryptopedia:
Follow us on social media channels👇