The Optimism team revealed! After Upgrade, Bedrock Reduces Network Fees by $150,000 and Benefits Primary-Secondary Networks in the Future
Following the recent upgrade dubbed “Bedrock” to the popular Layer-2 blockchain on Ethereum “Optimism” that completed on June 7th, the upgrade paves the way for the network. into a future superchain
By upgrading Bedrock, it reduces data and gas usage on Ethereum by 40% with its data compression strategy. Along with adding support for Reorgs, which is the name for chain restructuring. Which will happen only when the blockchain creates 2 blocks at the same time, which if it happens because of bugs or viruses There will be one more temporarily copied blockchain, the longer the Reorgs have been established. The more damage to the network.
Therefore, in the upgrade, Bedrock has modified its code to deal with Reorgs by shortening the deposit confirmation time from Ethereum to Optimism from 10 minutes to 1 minute. Exploitation of Bridge vulnerabilities as well
Latest yesterday at 8:33 p.m. in Thailand, The Block website reported that after the Bedrock upgrade, the cost of fees used on the network was greatly reduced.
According to the report, Most of the cost for Optimism users comes from the fees required to publish transaction data on the Ethereum core network. The upgrade has reduced network costs by more than 56%. As a result, Bedrock has saved network users nearly $150,000 over the past few days.
Users are also encouraged by average transaction fees on Ethereum, the network’s Layer-1, resulting in lower Optimism transaction fees. The average transaction fee dropped from $0.57 to $0.16.
However, Michael Silberling, an online data analyst at OP Labs, adds that the average cost per transaction. Depending on the volatility of the price of fees on Ethereum, this is beyond Optimism’s control. But that measurement is subject to adjustment as well.
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