- Optimism efficiently migrated its Goerli Testnet to Bedrock on 13 January
- The community witnessed a progress in consumer exercise within the final month.
Following an preliminary announcement in December 2022, main layer 2 community Optimism [OP] accomplished the migration of its Goerli Testnet to Bedrock on 13 January.
We’ve accomplished the profitable improve of Optimism’s Goerli Testnet to Bedrock! 🥳
Deposits and withdrawals are re-enabled, and the Optimism Goerli Sequencer is again up & operating.
Huge due to all our companions for his or her assist in making this migration attainable!
— OP Labs (@OPLabsPBC) January 12, 2023
Real looking or not, right here’s XRP market cap in BTC’s phrases
Based on Optimism, the Bedrock improve,
“Is the most cost effective, quickest, and most superior rollup structure.”
The improve is anticipated to convey a number of enhancements to the community, together with providing decrease knowledge charges on the layer-1 Ethereum community, future-proofing of its proof-of-stake mechanism, assist for a number of execution purchasers, and two-step withdrawals for belongings bridged to the layer-2 system.
After efficiently migrating its Goerli Testnet, Optimism will submit a proposal for a mainnet improve to the community’s governance workforce. The objective is for the improve to be applied by the top of the primary quarter of 2023.
2023: A yr of Ethereum L2 wars
In October 2022, Optimism launched OP Stack, an open-source blueprint that permits anybody to make use of Optimism’s modular design and codebase to create their very own rollups. With a proposed mainnet improve to Bedrock earlier than the top of March, Optimism famous,
“After the Bedrock improve, our EVM equal, most-forked L2 code base will probably be even higher.”
As Optimism competes for a bigger share of the L2 market, the Bedrock improve, which guarantees decrease gasoline charges and different enhancements, is anticipated to draw extra exercise to the community.
The timing of Optimism’s Bedrock improve coincided with the ultimate phases of improvement for Polygon’s zkEVM, including to the aggressive panorama for market share amongst L2 options suppliers. Since its testnet launch final yr, Polygon zkEVM reached essential milestones.
For the reason that rollout of Polygon zkEVM’s public testnet in October, we’ve seen:
– 21,966 txs processed
– 14,930 ZK proofs generated & verified
– 10,508 pockets addresses created
And counting… @0xpolygondevs are floored by the Ethereum group’s assist.
— Polygon ZK (@0xPolygonZK) December 23, 2022
Additional, Arbitrum, the most important L2 options supplier by way of complete worth locked (TVL), is anticipated to conduct its token AirDrop and allocation this yr. This can undoubtedly drive extra customers to the community, additional intensifying the competitors inside the ecosystem.
As of this writing, with a TVL of $2.58 billion, Arbitrum ranked forward of Optimism, which has a TVL of $1.43 billion, per knowledge from L2Beat.
Is your portfolio inexperienced? Take a look at the Optimism Revenue Calculator
Elevated consumer exercise on Optimism
Optimism witnessed an uptick in its consumer exercise within the final month, surpassing Arbitrum.
Optimism simply accomplished their Bedrock take a look at however improve as traction has began selecting up over the past month, flipping Arbitrum… pic.twitter.com/aIfO23XT7q
— Avi (@AviFelman) January 13, 2023
Per knowledge from Nansen, the community’s every day transactions have grown by over 100% because the begin of 2023. As of 12 January, transactions accomplished on the community exceeded 800,000.
Furthermore, OP additionally noticed some progress in value because the yr started. Based on knowledge from CoinMarketCap, OP’s value has since rallied by 75% till press time.