What is Optimism Bedrock? Optimism Bedrock is the next update and upgrade to the Optimism ecosystem with a new vision and mission. So, everyone will find out in the article below how Bedrock will improve and change Optimism.
To understand this article, people can refer to some of the following articles:
- What is Layer 2? Complete Guide to Layer 2 Solutions
- What is Optimism (OP)? Overview of Cryptocurrency Optimism
- What is EIP 4488? Pros & Cons Of EIP 4488 On Ethereum
- What is Danksharding? All About Danksharding & Ethereum’s EIP 4844
What is Optimism Bedrock?
Current context of Optimism
It can be seen that Optimism has certain advantages in the Optimistic Rollup race with their biggest competitor, Arbitrum, and is completely far ahead of weak competitors like Boba Network (which is essentially a fork of Optimism). ) or Metis DAO when proactively launching OP tokens and using it to bootstrap liquidity and TVL for the entire ecosystem. But up to now, Optimism is out of breath because:
- Upgrade delay. Arbitrum launched Arbitrum Nitro on August 31, 2022 and Bedrock is expected to be in Q4/2022 but it has not been completed yet, leading to higher network fees for Optimism compared to Arbitrum. Partly because Bedrock is much more complex than Nitro.
- The development strategy different from Arbitrum is also a factor that makes the Optimism ecosystem not so exciting.
But to say that Optimism has not made progress is certainly wrong because in the process, Optimism has released OP Stack – a toolkit to build an Optimistic Rollup similar to Optimism and is supported by Optimism in terms of upgrades. Future. From there, Optimism’s Superchain vision was gradually created as:
- Coinbase built Base a Layer 2 platform on Ethereum based on OP Stack.
- A16Z has also built Magi as an infrastructure piece for Superchain.
Overview of Optimism Bedrock
February 4, 2023: Optimism announced that it has completed testing on the Optimism Goerli Testnet. And submitted an upgrade proposal for the Optimism Mainnet network to Token House. This proposal will officially open on February 15, 2023. OP Token holders can then participate in voting. But until the day February 17, 2023the project suddenly announced to postpone the upgrade schedule to March to April to fix some errors.
Bedrock is a technical upgrade on Optimism, making it more compatible with Ethereum and reducing the amount of code in the OP Stack. This is really necessary to attract Developers to Optimism. They are the main agents helping to promote the development of the ecosystem.
After the proposal is approved, Optimism will perform the upgrade in the following weeks when it is ready in all aspects. To ensure the upgrade takes place most smoothly and safely.
Outstanding features of the Bedrock update
Reduce the amount of code
As noted above, the OP Labs engineering team’s top priority for the Bedrock update was to reduce the amount of code in the OP Stack. This goal is both practical and strategic. Quite simply, every line of code costs money to maintain and it also creates an opportunity for a bug to occur. The less code in the system, the less expensive it is to maintain and the more secure it is.
The way OP Stack achieves such a minimal codebase is by reusing as much code from Ethereum as possible. In fact, this also increases Optimism’s security. A new Layer 2 code base will certainly have more bugs than Ethereum’s code base that has been in production and tested for over 8 years.
Additionally, the maximum reuse of Ethereum’s codebase helps the protocol achieve great compatibility with the Ethereum Blockchain. This will be presented in the next section.
Fully EVM compatible
Achieving near 100% Ethereum compatibility requires reducing the amount of code and leveraging code from the mainnet mentioned above. This is great for developers and the ecosystem, making it possible for the masses of developers on Ethereum to switch to Optimism without having to learn some additional code tweaks.
Inheriting improvements from Layer 1 will help developers working on the Optimism Protocol have much less need to upgrade. It also reduces the pressure on the OP Labs engineering team and helps them build with the community better. Minimally modified executable clients make it easy for the protocol to stay up to date with Ethereum Mainnet changes as they are deployed.
This also makes it possible for OP Labs engineers to support Ethereum and vice versa. There is no barrier between Layer 1 and Layer 2.
Module calculation
Modularity is a highlight of the Bedrock release, making it simple to swap out different components in the OP Stack. It also prepares Optimism for future growth. Enables support for multiple execution layer clients and allows the use of Fault Proofs or Validity Proofs (e.g. zk-SNARK) as a proof mechanism. This flexible architecture can also adapt to future developments in the Ethereum ecosystem.
This flexibility makes building on Optimism really fun. Because it opens the door to endless possibilities that come from customizing modules for specific purposes. In this way, Bedrock enables testing and updates of important future innovations on the OP Stack protocol.
Evaluate the pros and cons of Bedrock
Besides the advantages that I have presented above, we will go to the advantages and disadvantages that have a direct impact on the user experience on Optimism.
|
Advantage |
Defect |
|---|---|
|
Bedrock continues to optimize data compression, helping to reduce storage fees on Layer 1 and transaction fees on Layer 2 by 10%. |
Being 100% similar to Ethereum also makes it easy for Optimism to encounter the problems that Ethereum is facing. |
|
Withdrawal time is shorter from 10 minutes to only about 3 minutes |
The construction time is so time-consuming that Optimism is being surpassed by Arbitrum in terms of TVL, Users, etc. |
|
Almost 100% compatible with Ethereum makes it easy for developers to develop on Optimism |
Bedrock has many important updates and still has many potential risks after a successful update. |
|
Increase performance for nodes |
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The Connection Between Ethereum & Optimism
Not only will Optimism be updated, Ethereum will also have updates to further support Optimism in particular and all Layer 2s built using Rollup technology in general including:
- EIP 4488: The update helps increase block size and reduce fees for Layer 2 combined with Bedrock, transaction fees on Optimism will be greatly reduced.
- EIP 4844 also known as Proto Danksharding If combined with Bedrock, the transaction fee on Optimism will likely reach $0.05/transaction, the ideal number that Vitalik Buterin once shared about appropriate fees for Layer 2.
Summary
Bedrock is an update worth waiting for on the Optimism ecosystem. Hopefully through this article everyone can understand what Optimism Bedrock is?
