Research Summary
On June 6, Optimism executed the Bedrock upgrade, a crucial milestone for Coinbase’s Base mainnet and Optimism’s Superchain vision. The upgrade introduced several enhancements to the OP Stack. Bedrock optimized data compression, making transaction fees up to 50% cheaper, giving Optimism an edge over Arbitrum. It also enhanced node performance, enabling the rollup to execute multiple transactions per block. Bedrock implemented additional defense against withdrawal proof validation exploits, crucial for a network holding nearly $1B in value. Deposit times have also been significantly shortened.
Actionable Insights
- Cost Efficiency: The Bedrock upgrade has made transactions up to 50% cheaper, making Optimism more competitive.
- Performance Enhancement: The upgrade has improved node performance, enabling multiple transactions per block.
- Security Measures: Bedrock has implemented additional defenses against withdrawal proof validation exploits, crucial for a network holding nearly $1B in value.
- Shortened Deposit Times: The upgrade has significantly shortened deposit times.
- Future Developments: The next major catalyst for OP will be the launch of Coinbase’s Base mainnet, expected by the end of the summer. Base plans to share 10% of sequencer revenue with the Optimism Collective.
