Optimism’s Bedrock upgrade has already saved $1 million in fees.

Following the recent upgrade of Bedrock Optimism, a layer 2 network that uses optimistic rollup, network costs have been greatly reduced.

Most of the cost for Optimism users comes from the fees required to propagate transaction data on Ethereum mainnet. Bedrock upgrades reduce transaction fees through optimized batch optimization and use of Ethereum as the data availability layer. Reduces network costs by 56% (from 6,890 to 3,000 gas units) according toinformationCompiled by OP Labs, the main developers of Optimism on Dune.

As a result, Bedrock upgrades have saved users nearly $150,000 over the past few days.

“A large part of the cost of all transactions, about 86%, comes from the cost of sending data to [Ethereum]said Michael Silberling, online data analyst at OP Labs.

Optimism’s average transaction fee also dropped from $0.57 to $0.16.

gas L1 fee per L2 transaction

Silberling clarified that the “average cost per transaction” is based on fluctuations in Ethereum transaction fee prices, which is beyond Optimism’s control. pleased But this number may vary.

The Optimism Network currently holds approximately $830 million in locked assets.

refer : LINK
picture LINK

The post Optimism’s Bedrock Upgrade Saves $5.1 Million in Fee Appeared First on Bitcoin Addict.

source site