Transactions on the Optimism network surged 67% following its June 7 “Bedrock” upgrade, in keeping with a June 26 Twitter thread from blockchain analytics agency Nansen. The network had been seeing lower than 300,000 transactions per day earlier than the upgrade, however this determine elevated to over 550,000 by the center of June.
Since Optimism’s Bedrock upgrade on June 6
Its every day transactions have elevated by about 67% to ~500k
And gasoline charges are lowered by about 50% to ~$50k pic.twitter.com/9ACIMMFHbl
— Nansen (@nansen_ai) June 26, 2023
Optimism, a layer 2 of Ethereum, implemented its Bedrock hard fork on June 6. It was meant to scale back deposit occasions and costs, in addition to enhance the network’s safety. In accordance with the June 26 Nansen report, every day charges have fallen from $80,000 value of Ether (ETH) immediately earlier than the upgrade to solely $50,000 as of late June.
Optimism noticed a pointy enhance in transactions instantly following the exhausting fork, rising to over 400,000 from roughly June 5 to 9. Quantity rose slower after the preliminary spike, reaching a peak of over 550,000 on or round June 15. It then began to fall slowly, reaching 500,000 transactions per day by the tip of the time information was collected round June 23, in keeping with a chart posted in Nansen’s Twitter thread.
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The highest Optimism app main as much as the report was the decentralized credential protocol Galxe, which noticed over 528,000 transactions in the course of the week. The USD Coin (USDC) stablecoin had the second-highest transaction rely at over 170,000. The remaining high 5 apps on Optimism included the Stargate Finance cross-chain bridge, the Perpetual Protocol futures buying and selling app and the Gnosis Protected multisignature pockets.
The Bedrock upgrade was a part of a broader set of proposals to create a “Superchain” consisting of a number of blockchain networks that depend on the identical software program for safety and interoperability. Coinbase confirmed that its Base network would join Optimism as a part of the Superchain. The Base workforce announced its “Path to Mainnet” preliminary roadmap on Could 24.
