Optimism Network Transactions Skyrocket by 67% after Bedrock Upgrade, Reports Nansen

Vignesh Karunanidhi
Optimism Network Transactions Skyrocket by 67% after Bedrock Upgrade, Reports Nansen
Source: Crypto News

According to Nansen, Optimism’s Bedrock upgrade on June 6 has resulted in a significant surge in daily transactions. The tweet mentions a remarkable 67% increase, bringing the daily transaction count to approximately 500,000.

Additionally, the Bedrock upgrade has had a positive impact on gas fees, reducing them by around 50% to approximately $50,000. These improvements signify the enhanced scalability and cost-effectiveness of the Optimism network following the upgrade.

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Nansen also highlighted the top 10 entities on the network by 7-day transactions. These include Galxe, Circle (USDC), Stargate Finance, Perpetual Protocol, Safe, Optimism Foundation, Uniswap, VelodromeFi, 0x Project, and Tether (USDT).

Optimism bedrock upgrade shows notable signs of growth

Optimism, developed by the Optimism Foundation, is a layer 2 scaling solution for Ethereum that leverages optimistic rollups to enhance transaction throughput and decrease gas fees. Additionally, the recent launch of the Bedrock upgrade on June 6, 2023, introduced several noteworthy enhancements to the Optimism network.

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These improvements encompass reduced transaction fees, faster deposit times, enhanced proof modularity, improved node performance, and improved Ethereum equivalence, among others. The Optimism Bedrock upgrade signifies a significant advancement for the network, making it a compelling choice for developers and users seeking scalable solutions for Ethereum.