Tuesday, October 3, 2023
HomeNewsCrypto Market Early June Trend- Bedrock Update What is Optimism ?

Crypto Market Early June Trend- Bedrock Update What is Optimism ?

· **What is Bedrock ?** Bedrock is an updated version of Layer-2 Optimism that was first introduced on the project Twitter in August 2022, and not until February 2, 2023. officially submit an upgrade proposal on its official twitter. Although it was only a proposed version, it was enough motivation to make Token OP set up ATH soon after, proving the attraction to those who believe that the Optimism project is extremely large with an ambitious vision to become a super trend where all existing blockchains can be interoperable. Optimism has introduced a new extensible structure called OP Stack, this is not just Optimism, one of the popular Layer-2 scaling solutions that we often know. OP Stack will improve even more when transforming The traditional cross chain to atomic cross-chain creates the highest synchronization when performing operations between different trends. Bedrock will be the first upgraded version of OP Stack’s codebase implementation. · **After the Bedrock update, what has changed in the Optimism network?** First and also what we will easily recognize is the transaction fee because it is a layer-2 so Optimism’s transactions also will be public on Etherum, each transaction of Optimism will include 2 costs, including layer-2(execution) fee and layer-1(security)fee, so the increase in layer-1 gas fee also causes Optimism gas fee to increase. . Bedrock will aggregate the information of jackson pages on layer-2 and then compress it accordingly before uploading it to the transaction on layer-1, so it will save a lot of costs, moreover compression and packaging. The data will also greatly shorten the time to deposit or confirm a deposit. Bedrock will help increase the efficiency of node usage when allowing the use of transactions in a block instead of each transaction in each block as before, minimizing memory consumption and transaction volume, which means Optimism network will be operating faster. Although it is not an upgrade that has a strong impact on the market like etherum shanghai and only focuses on upgrading to individual infrastructure, OP Stack or bedrock are really proving their worth when being used by the big guys. trust as a foundation to develop your own big project. So after completing the OP Stack and bedrok, I believe that optimism will get closer and closer to the ultimate goal of super trend and create great growth in the near future. · **What projects to watch out for before adding Bedrock?** Here are a few projects in the Optimism ecosystem that are likely to receive active development first with the upcoming Bedrock upgrade newsletter. -First: Velodrome: sealed from the Solidly project of the legendary project developer Andre Cronje, but Velodrome has solved the weaknesses of Solidy and took advantage of the model when the project lists tvl in the sport segment from numbers list and currently has a tvl protocol that goes beyond projects in the current optimism ecosystem -Monday: Sonne Finance: is a general decentralized lending protocol for individuals and organizations to help them continue access to financial services it is an open source protocol serving users based on Optimism platform users can deposit their assets through them using them as collateral and loans -Third: Perpetual Protocol: is a protocol that allows the issuance of perpetual futures contracts of any asset. Perpetual Protocol’s goal is to decentralize indefinite futures contracts allowing anyone, anywhere, anytime to access and use the trading platform without going through a 3rd party -Wednesday. :Kwenta: is a derivatives exchange with almost zero slippage, especially Kwenta is built mainly on the synthetix protocol. So the above liquidity makers on Synthetix can immediately access it on Kwenta. And those are the projects of optimism that I think will benefit if the Bedrock upgrade is successful. Thank you everyone for reading. Do you have any suggestions for me?

Source: Collector



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments