Optimism network transactions surged 67% following Bedrock upgrade — Nansen

Transactions on the Optimism community surged 67% following its June 7 “Bedrock” improve, in response to a June 26 Twitter thread from blockchain analytics agency Nansen. The community had been seeing lower than 300,000 transactions per day earlier than the improve, however this determine elevated to over 550,000 by the center of June.

Since Optimism’s Bedrock improve on June 6

Its every day transactions have elevated by about 67% to ~500k

And fuel 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 cut back deposit occasions and costs, in addition to enhance the community’s safety. In line with the June 26 Nansen report, every day charges have fallen from $80,000 price of Ether (ETH) instantly earlier than the improve to solely $50,000 as of late June.

Optimism noticed a pointy enhance in transactions instantly following the onerous 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 top of the time information was collected round June 23, in response to a chart posted in Nansen’s Twitter thread.

Associated: Binance’s BNB Chain introduces layer-2 testnet powered by Optimism

The highest Optimism app main as much as the report was the decentralized credential protocol Galxe, which noticed over 528,000 transactions throughout the week. The USD Coin (USDC) stablecoin had the second-highest transaction rely at over 170,000. The remaining prime 5 apps on Optimism included the Stargate Finance cross-chain bridge, the Perpetual Protocol futures buying and selling app and the Gnosis Secure multisignature pockets.

The Bedrock improve 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 community would join Optimism as a part of the Superchain. The Base workforce announced its “Path to Mainnet” preliminary roadmap on Might 24.