{"id":5426,"date":"2023-06-06T19:45:23","date_gmt":"2023-06-06T23:45:23","guid":{"rendered":"http:\/\/leadingcryptonews.com\/optimism-successfully-completes-bedrock-hard-fork-reducing-deposit-times-layer-1-fees\/"},"modified":"2023-06-06T19:45:23","modified_gmt":"2023-06-06T23:45:23","slug":"optimism-successfully-completes-bedrock-hard-fork-reducing-deposit-times-layer-1-fees","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/optimism-successfully-completes-bedrock-hard-fork-reducing-deposit-times-layer-1-fees\/","title":{"rendered":"Optimism successfully completes \u2018Bedrock\u2019 hard fork, reducing deposit times, layer-1 fees"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-06\/7a78ecc8-f1a7-4b1e-b52a-6dded5504b2d.jpg\" \/><\/noscript><\/p>\n<div data-v-2dafa29c=\"\">\n<p>The Optimism network concluded its \u201cBedrock\u201d upgrade on June 7, reducing deposit times, lowering layer-1 fees and enacting additional security features, according to an announcement from network developer OP Labs. The upgrade is part of a series of reforms the developer says will help create a \u201cSuperchain\u201d of scaleable Web3 networks based on Optimism\u2019s OP Stack software.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#x2705;OP Mainnet\u2019s migration to Bedrock has concluded and the Bedrock sequencer has started up.<\/p>\n<p>Key external OP Mainnet infrastructure is starting to come back online. You can track infrastructure status here:https:\/\/t.co\/XTtaArdI03<\/p>\n<p>\u2014 Optimism (&#x2728;_&#x2728;) (@optimismFND) June 6, 2023<\/p><\/blockquote>\n<p>In a conversation with Cointelegraph, OP Labs CEO Karl Floersch stated that Bedrock implements multiple gas optimizations the team discovered, reducing the network\u2019s data availability fees on Ethereum by 40%. These reductions are passed on to the user in the form of lower gas fees on Optimism.<\/p>\n<p>In addition, the upgrade allows the network to recognize chain reorganizations (reorgs) on Ethereum, reflecting these reorgs in the user\u2019s Optimism balance. This allows deposit times to be reduced to one minute. Previously, deposits from Ethereum to Optimism took an average of 10 minutes due to the need to gain finality on L1.<\/p>\n<p>Bedrock also implements a two-step withdrawal process to help prevent bridge exploits.<\/p>\n<p><strong>Related: <\/strong><strong>Hundred Finance loses $7 million in Optimism hack<\/strong><\/p>\n<p>In addition to these immediate changes, the new upgrade paves the way for further development of the OP Stack in the future, with the ultimate goal of building a multi-network \u201cSuperchain,\u201d Floersch stated. It features \u201cmodular proof systems\u201d that allow developers to create and customize their own blockchain networks. And the software\u2019s validator component, called \u201cop-geth,\u201d has less than 1,000 lines of code that differ from Ethereum\u2019s version, potentially making it easy for validators to switch to.<\/p>\n<p>On Feb. 23, Coinbase\u2019s Base network announced that it will become part of the Superchain as well. On May 24, it laid out a roadmap detailing its plans for mainnet launch.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/optimism-successfully-completes-bedrock-hard-fork-reducing-deposit-times-layer-1-fees\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Optimism network concluded its \u201cBedrock\u201d upgrade on June 7, reducing deposit times, lowering layer-1 fees and enacting additional security features, according to an announcement from network developer OP Labs. The upgrade is part of a series of reforms the developer says will help create a \u201cSuperchain\u201d of scaleable Web3 networks based on Optimism\u2019s OP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-5426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Optimism successfully completes \u2018Bedrock\u2019 hard fork, reducing deposit times, layer-1 fees - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/optimism-successfully-completes-bedrock-hard-fork-reducing-deposit-times-layer-1-fees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Optimism successfully completes \u2018Bedrock\u2019 hard fork, reducing deposit times, layer-1 fees\" \/>\n<meta property=\"og:description\" content=\"The Optimism network concluded its \u201cBedrock\u201d upgrade on June 7, reducing deposit times, lowering layer-1 fees and enacting additional security features, according to an announcement from network developer OP Labs. 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