Ethereum Layer 2 scaling platform, altcoin Optimism, has set June 6 as the official date for a major upgrade on its mainnet called Bedrock.
Altcoin Optimism Plans Mainnet Bedrock Upgrade on June 6
The Optimism Foundation said in a post on Twitter yesterday that the upgrade discussed earlier this year will require a two to four hour downtime during which transactions, deposits and withdrawals cannot be made.
“Bedrock will increase the security and resilience of the OP Mainnet bridge,” the foundation said, adding that this would reduce fees significantly.
“Bedrock is designed on Ethereum with the least possible margin. The introduction of Bedrock marks an important milestone for Optimism, which aims to increase the scalability and efficiency of the Ethereum network.
As a Tier 2 scaling solution, Optimism aims to address network congestion and high transaction fees experienced on the Ethereum blockchain.
The foundation said additional information will be available on a mission control website. One of the key design goals of the upgrade is backward compatibility.
“If you are a node operator, you will need to create a brand new node distribution for Bedrock,” the foundation added.
Optimism uses optimistic rollups, a technology that allows multiple transactions to be aggregated into a single transaction, which are then recorded on the Ethereum blockchain. The network has approximately $863 million in locked assets on the platform.
As the upgrade approaches, users and developers using Optimism's services are advised to plan their activities accordingly and be aware of the temporary downtime.
The Optimism Foundation will provide further updates and information to ensure a smooth transition and keep the community informed throughout the upgrade process.
*Not investment advice.
