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- Optimism efficiently migrated its Goerli Testnet to Bedrock on 13 January
- The community witnessed a development 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 & working.
Huge due to all our companions for his or her help in making this migration doable!
— OP Labs (@OPLabsPBC) January 12, 2023
Reasonable 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 carry 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, help for a number of execution purchasers, and two-step withdrawals for property 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 crew. The aim 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 enables 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 likely 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 growth 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 necessary milestones.
Because the 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 createdAnd counting… @0xpolygondevs are floored by the Ethereum neighborhood’s help.
— Polygon ZK (@0xPolygonZK) December 23, 2022
Additional, Arbitrum, the most important L2 options supplier by way of whole worth locked (TVL), is anticipated to conduct its token AirDrop and allocation this yr. It will 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.
Supply: 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 check however improve as traction has began selecting up during the last 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% for the reason that begin of 2023. As of 12 January, transactions accomplished on the community exceeded 800,000.
Furthermore, OP additionally noticed some development in worth for the reason that yr started. Based on knowledge from CoinMarketCap, OP’s worth has since rallied by 75% till press time.
Supply: CoinMarketCap
