Optimism network transactions surged 67% following Bedrock upgrade — Nansen

Transactions on the Optimism community surged 67% following its June 7 “Bedrock” improve, in line with 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 day by day transactions have elevated by about 67% to ~500k

And gasoline charges are diminished by about 50% to ~$50k pic.twitter.com/9ACIMMFHbl

— Nansen (@nansen_ai) June 26, 2023

Optimism, a layer 2 of Ethereum, applied its Bedrock onerous fork on June 6. It was meant to cut back deposit instances and costs, in addition to improve the community’s safety. In response to the June 26 Nansen report, day by day charges have fallen from $80,000 value of Ether (ETH) straight earlier than the improve to solely $50,000 as of late June.

Optimism noticed a pointy improve 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 tip of the time information was collected round June 23, in line with 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 through the week. The USD Coin (USDC) stablecoin had the second-highest transaction depend 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 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 be part of Optimism as a part of the Superchain. The Base workforce introduced its “Path to Mainnet” preliminary roadmap on Might 24.