Optimism, the Layer 2 scaling protocol, has announced that June 6th will mark the launch date for the highly anticipated Bedrock upgrade to its mainnet.
The Bedrock upgrade has been a topic of discussion since the beginning of this year, and it is scheduled to take place at 16:00 (UTC) on June 6th. During this process, the network will experience a temporary suspension of operations lasting 2-4 hours, rendering transactions and deposits/withdrawals temporarily unavailable.
According to Optimism’s announcement on Twitter, Bedrock aims to enhance the security and sustainability of the OP Mainnet bridge while significantly reducing costs. The project has promised to release additional information on its website, providing further details about the upgrade. One of the primary goals of this upgrade is backward compatibility.
🚨The official date of OP Mainnet’s upgrade to Bedrock has been set: June 6, 2023 at 16:00 UTC!
The upgrade will require 2-4 hours of downtime for OP Mainnet.
Visit Mission Control for full details on what to expect:https://t.co/o6UjKZaVKy
— Optimism (✨🔴_🔴✨) (@optimismFND) May 15, 2023
The Bedrock project has been designed to introduce minimal deviations from the Ethereum network. By minimizing divergence and reducing complexity, the blockchain is expected to encounter fewer errors, making it easier for developers to contribute to the ecosystem.
“If you are running a node, you will need to deploy an entirely new node for Bedrock,” noted the project in its announcement.
Optimism revealed that Bedrock is the first major upgrade approved through a vote by Optimism Collective’s Token House. In April 2022, Optimism Collective was launched to test large-scale governance voting on the blockchain. Token House was established following an airdrop event, enabling OP token holders to participate in decision-making processes such as protocol upgrades on the Optimism platform.
Before announcing the Bedrock update, Optimism required approval from Token House. Furthermore, Bedrock needed to meet criteria such as compatibility with OP Goerli, completing the Sherlock audit, conducting three successful internal testnet migrations, and ensuring stable testnet operation for two weeks.
Information available on the Optimism website reveals that Bedrock will implement a modular structure, separating the OP Stack into three components: consensus, execution, and processing. One of the major advantages of Bedrock is its improved security. Optimism believes that this latest update holds the promise of attracting a significant number of users and maximizing the use of open-source code.
Optimism is one of the leading Layer 2 solutions built on Ethereum. The network utilizes optimistic rollups, a technology that allows the system to process transactions off-chain before “packaging” the data back into the Ethereum mainnet. Currently, Optimism has a total value locked (TVL) of approximately 863 million USD on its platform.
The Bedrock upgrade represents a significant milestone for Optimism and the Ethereum ecosystem as a whole. With improved security, enhanced scalability, and reduced costs, the mainnet release on June 6th holds the potential to attract a wave of new users and further solidify Optimism’s position as a prominent Layer 2 scaling solution on Ethereum.
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