Ethereum layer-2 platform Optimism has announced that it will release the highly anticipated Bedrock upgrade on June 6, 2023. The release will introduce changes to the protocol to make it even more scalable, reducing transaction fees. Optimism is an off-chain platform where users can deploy smart contracts and launch decentralized applications in a low-cost, highly scalable, and secure environment. The Bedrock upgrade will be a hard fork, requiring validators to update to the latest version. The changes brought by the upgrade will improve scalability, usability, and security. Bedrock will introduce a new fee structure that makes fees more predictable and efficient, dropping transfer or smart contracts deployment fees. Furthermore, developers expect a better Ethereum Virtual Machine equivalence with Optimism remaining compatible with the Ethereum base layer. The native token of Optimism, OP, is down nearly 50% from its February 2023 high. Still, ahead of the June 6 Bedrock upgrade, OP prices could recover and align with the primary trend set in motion in Q1 2023.
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