The Optimism layer-2 network, which is built on top of Ethereum, implemented its Bedrock hard fork on June 6 to improve the network’s security and reduce deposit times and fees. According to a recent report by blockchain analytics firm Nansen, the daily fees have fallen from $80,000 worth of Ether right before the upgrade to only $50,000 in late June.
The report also shows that transactions on the Optimism network increased by 67% following the upgrade, rising to over 550,000 at its peak. The top apps on the network included Galaxe, US Dollar Coin, Stargate Finance, Perpetual Protocol, and Gnosis Safe multi-sig wallet.
The Bedrock upgrade was part of a larger effort to create a “Superchain” consisting of multiple blockchain networks that rely on the same software for security and interoperability. Coinbase confirmed that its Base network would join Optimism as part of this Superchain.
Overall Impact
Overall, the Bedrock upgrade has had a positive impact on the Optimism network, with reduced fees and increased transaction volume.