Optimism Races Ahead in Layer 2 Competition with Bedrock Upgrade

In a recent announcement, Optimism, a prominent blockchain scaling solution, revealed its plans to deploy the highly anticipated Bedrock upgrade on June 6th. This upgrade is touted as the largest enhancement in Optimism’s history and marks the dawn of the Superchain era for the network.

According to the announcement, the Bedrock upgrade on the Optimism mainnet is scheduled to occur on June 6th, with a temporary network suspension lasting between 2 to 4 hours. During this period, all transactions, deposits, and withdrawals will cease operations. Karl Floersch, the co-founder of Optimism, promises that Bedrock will significantly reduce transaction costs and decrease deposit times to under one minute.

“This is a significant milestone for the OP stack, bringing us closer to the vision of a Superchain,” said Floersch.

The term “Superchain” refers to a chain network built on the OP stack, integrating all aspects of bridging, governance, upgrades, and cross-chain messaging into a unified network.

Unlike multichain approaches, where applications are deployed on their own chains, Optimism aims to establish a standard framework through Bedrock, enabling developers to deploy everything on a Superchain.

Optimism hopes to gain a competitive edge in the Layer 2 race against Arbitrum and other zk-rollup-based Layer 2 solutions. Arbitrum recently launched Arbitrum Orbit, an infrastructure that allows developers to build Layer 2 or Layer 3 on Arbitrum Nova or Arbitrum One, further strengthening its ecosystem and unlocking new development avenues for Layer 2.

Meanwhile, Optimism has secured an advantage by attracting the deployment of its network on Superchain from major players such as Coinbase, a prominent cryptocurrency exchange, and Andreessen Horowitz (a16z), a well-known investment fund.

The deployment of Bedrock coincides with Optimism’s largest token unlock to date. As reported by Interlock, 386.5 million OP tokens, valued at $591 million, equivalent to 9% of the total supply, were released into circulation on May 31st.

The implementation of the Bedrock upgrade represents a significant step forward for Optimism and the broader blockchain ecosystem. As the Superchain era unfolds, developers and users can expect enhanced scalability, reduced costs, and improved efficiency, paving the way for the next wave of decentralized applications and financial innovations.

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