Optimism Sets Bedrock Upgrade Date for June 6

Ethereum layer-2 solution Optimism has rescheduled its Bedrock upgrade to early June, nearly two months later than initially planned.

Optimism Sets Bedrock Upgrade Date for June 6

After several delays, Optimism (OP), the Ethereum layer-2 scaling solution, has announced the new date for its Bedrock upgrade, which is set for June 6, 2023.

According to the latest update from the Optimism team, the Bedrock upgrade will commence at 11:00 PM UTC+7 on June 6, 2023. The upgrade is expected to take approximately 2-4 hours to complete, during which transactions and token deposits/withdrawals on the Optimism mainnet will be temporarily suspended.

While users will not need to take any action and simply wait for the upgrade to be implemented on Optimism, node operators will need to update to the new version that supports Bedrock.

Bedrock is a significant upgrade for Optimism, marking the next major development since the layer-2 solution airdropped OP tokens in June 2022. Specifically, it will partition the project’s OP Stack architecture into three distinct layers: Consensus, Execution, and Settlement. Key changes expected with Bedrock include:

• Reducing transfer times from Ethereum to Optimism by up to 4x;
• Lowering data transfer costs to Ethereum by up to 20%;
• Minimizing the difference from Ethereum’s Geth client to just 500 lines of code, enhancing synchronization;
• Implementing EIP-1559 for transaction gas fee updates, mirroring Ethereum;
• Paving the way for other data-proof solutions like ZK-Rollups.

Bedrock is anticipated to enhance Optimism’s competitive edge in the Ethereum layer-2 space, a segment that has seen significant expansion with direct competitor Arbitrum and the rise of various zkEVM solutions such as Polygon zkEVM, zkSync, Linea, Starknet, and Mantle. Additionally, strengthening the OP Stack is expected to attract other projects to build their own layer-2 solutions, similar to Coinbase’s Base, which launched its layer-2 solution in February.

As reported by Coin68, Bedrock was technically completed in early February and received community approval for deployment by late March to early April. However, by mid-April, Optimism developers announced a technical issue and had to postpone the mainnet launch.

The price of OP has shown no positive movement following the announcement of the Bedrock upgrade date and instead continues to follow the overall market correction trend.

OP/USDT 1h Chart on Binance as of 08:50 AM, May 16, 2023