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 day by day transactions have elevated by about 67% to ~500k
And fuel charges are decreased by about 50% to ~$50k pic.twitter.com/9ACIMMFHbl
— Nansen (@nansen_ai) June 26, 2023
Optimism, a layer 2 of Ethereum, carried out its Bedrock laborious fork on June 6. It was supposed to scale back deposit occasions and costs, in addition to improve the network’s safety. According to the June 26 Nansen report, day by day charges have fallen from $80,000 price of Ether (ETH) straight earlier than the upgrade to solely $50,000 as of late June.
Optimism noticed a pointy improve in transactions instantly following the laborious fork, rising to over 400,000 from roughly June 5 to 9. Volume 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 top of the time information was collected round June 23, in keeping with a chart posted in Nansen’s Twitter thread.
Related: Binance’s BNB Chain introduces layer-2 testnet powered by Optimism
The high 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 Safe 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 be a part of Optimism as a part of the Superchain. The Base crew introduced its “Path to Mainnet” preliminary roadmap on May 24.
