Are you ready for Optimism’s Bedrock upgrade? Hold onto your hats because Optimism, the widely-used Layer 2 blockchain, is about to rock your world with the highly anticipated official release of their Optimism stack, known as Bedrock! Scheduled for June 6, 2023, at 16:00 UTC, this game-changing release is an event you won't want to miss.
Bedrock sets the stage for a Cambrian explosion of layer twos. If everything goes as planned, we could see many new layer twos being released in the near future. And you know what? Each of these L2s will likely accrue value back to Optimism. Besides this, Bedrock is packed with a lot of mind-boggling enhancements that will blow your socks off!
First up, let's talk about fees. You know how those transaction costs can dent our crypto dreams. But fear not! Bedrock introduces optimized batch compression that slashes fees to new lows. Transactions on Bedrock are organized into sequencer batches, grouped into channels, and compressed before being submitted to the Ethereum network.
And here's the exciting part! The channels are submitted to Ethereum using something called channel frames. These frames are independent chunks of data. Since the ordering of these channels is already established, they can be submitted in parallel to Ethereum!
By submitting these channel frames simultaneously, Bedrock significantly boosts the overall efficiency of the network., meaning faster transaction processing, reduced congestion, and improved user experience. It's all about optimizing the throughput and making the most out of every block. Say goodbye to high transaction costs and hello to a more budget-friendly blockchain experience!
Now, Bedrock not only removes Layer 1 execution gas but also reduces fees. What's more, it supports layer 1 re-organizations in the node software, slashing deposit times. Earlier versions took up to 10 minutes to confirm deposits, but with Bedrock, deposits are expected to be confirmed within just 3 minutes. Yes, you heard it right. No more long waiting times!
What makes Bedrock truly remarkable is its extensive code reuse from Ethereum. Think of Bedrock as the cool cousin of Ethereum, designed with minimal differences from the popular Go Ethereum (Geth) client. Geth has been the go-to choice for Ethereum for years, known for its toughness and reliability. By reusing most of the code from Geth, Bedrock minimizes the attack surface of the Optimism Network.
The modular approach introduced with Bedrock is another key highlight. The Optimism Labs has designed Bedrock like a set of Lego blocks, allowing for easy swapping of individual pieces like the execution, consensus, and settlement layers. This modular approach makes upgrading the protocol a breeze and opens up exciting new possibilities. It also means that once zero-knowledge proofs prove their worth, Optimism can seamlessly transition to them. That's the beauty of it!
One of the coolest things about this modular approach in Bedrock is the OP Stack is open-source! Developers will soon have the power to deploy their very own layer 2 networks. It's like having a box of Lego blocks to play with! Developers can mix and match these Lego-like blocks to create their own unique layer 2 networks. It's all about customization and experimentation!
Whether you're a tech-savvy developer or want to run your own node, Bedrock is here to simplify things for you. Bedrock reuses a lot of code from Geth, which is a big deal for developers already working on Ethereum. It means that moving to Optimism becomes a smooth and seamless process, without any unnecessary hurdles or complications.
But wait, there's more! Bedrock is all about supercharging your nodes. The technical debt has been eliminated and the node software has been improved, resulting in lightning-fast querying of transaction data. Your nodes will be zooming past the competition in no time!
Brace yourself for a reunion with Ethereum's finest features! Bedrock brings back all the things you love, including EIP-1559, chain reorgs, and more. It's like a family reunion but with blockchain magic!
And there you have it, folks! The Bedrock upgrade on OP Mainnet is set to revolutionize the crypto world. With reduced fees, lightning-fast transactions, enhanced security, and Ethereum compatibility, Optimism's Bedrock is a game-changer that will shape the future of blockchain technology.
Stay tuned for announcements of upcoming online events such as CryptoZombies Live Workshops and special guest online meetups.