Optimism Bedrock Upgrade Fuels 67% Surge

Jun 26, 2023

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In the ever-evolving landscape of the blockchain universe, a recent development has made a seismic impact. The Optimism network, renowned for its Ethereum layer 2 scaling solution, has witnessed a 67% surge in its transactions post the implementation of the Bedrock upgrade. With transactions swelling to over half a million, the network has etched a new high-water mark in its ledger.

The Bedrock Upgrade: A New Dawn

The , a significant milestone for Optimism, was not just an isolated tweak but part of a grander vision. The upgrade was an integral component of an ambitious set of proposals aimed at creating a ‘Superchain’ – a cohesive network melding multiple networks together. As the Superchain’s cornerstone, the Bedrock upgrade has undeniably changed the landscape of the Optimism network, propelling it into a realm of increased activity and engagement.

Since Optimism’s Bedrock upgrade on June 6

Its daily transactions have increased by about 67% to ~500k

And gas fees are reduced by about 50% to ~$50k

— Nansen 🧭 (@nansen_ai)

The Immediate Aftermath: A Hard Fork Drives Hard Numbers

In the immediate aftermath of the upgrade, Optimism experienced a precipitous rise in transactional activity. The numbers were a testament to the transformative power of the upgrade, with transactions catapulting to over 400,000 from approximately June 5 to 9, a period directly succeeding the hard fork. This exponential increase post-upgrade underscored the immediate acceptance and adoption of the Bedrock upgrade by the network’s users.

The Ebb and Flow of Transactions

Although the initial surge was meteoric, the following weeks witnessed a more measured pace of growth. The volume of transactions ascended slower after the initial spike, reaching an apex of over 550,000 on or around June 15. Subsequently, the transactional activity started a gradual descent, ultimately stabilizing at around 500,000 transactions per day by the conclusion of the data collection period on June 23. This pattern of rise and fall not only illustrated the network’s dynamism but also highlighted the sustained interest and continued use of the network despite the initial excitement tapering off.

The Optimism Network: A Beacon of Innovation

The Optimism network, with its Bedrock upgrade, has undoubtedly proven itself as a beacon of innovation in the blockchain space. The striking increase in transactions is a testament to its success, demonstrating the potential for groundbreaking improvements to significantly enhance the user experience. With its eyes set firmly on the future, Optimism continues to push the boundaries of what’s possible in the blockchain universe, fostering an environment of continual growth and innovation.

The astounding surge in transactions reaffirms Optimism’s commitment to creating robust solutions for scalability issues that plague blockchain networks. As the network continues to evolve and innovate, the world waits with bated breath to witness the next wave of breakthroughs from this dynamic entity in the blockchain cosmos.

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Micky Gene
I am a crypto expert, blockchain analyst. I am diving deep in digital world for finding the most promising projects, looking for a better future. Being from a Finance background, I efficiently write Price Analysis. Apart from writing, I am playing football.