Hacker behind $2M crypto heist receives job offer from victim protocol

Despite losing $2 million in a smart contract exploit, Bedrock offered the hacker a role to help secure its protocol and recover stolen funds.

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Anthropic's Claude 3 Haiku Now Fine-Tunable in Amazon Bedrock

Anthropic introduces fine-tuning for Claude 3 Haiku in Amazon Bedrock, enhancing model performance and customization for specialized business tasks. (Read More)

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Optimism's major mainnet upgrade to Bedrock set for June 6

The much needed upgrade will provide a number of improvements across the network, and come at a time when competition in the Layer 2 space has been heating up.

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Optimism Reveals Date for Bedrock Upgrade: Here’s What It Changes

Bedrock will improve the security and resilience of the Optimism bridge, among other things.

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Optimism Layer-2 Is Upgrading: Is This What Bulls Want?

Optimism, one of the most popular Ethereum layer-2 platforms, will release the Bedrock upgrade on June 6, 2023. Optimism Upgrading Via Bedrock In Early June The layer-2 provider on Ethereum says the release is “highly anticipated” by the community and will introduce some changes that make the protocol even more scalable, reducing transaction fees. As it is, [...]

The post Optimism Layer-2 Is Upgrading: Is This What Bulls Want? appeared first on Crypto Breaking News.

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$BTC Airdrop Soon? These Bitcoin-Based Protocols Have Ongoing Crypto Points Farming

Here are the five protocols on Bitcoin that are currently hosting a point system, hinting at a future airdrop.

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Optimism Bedrock Upgrade: Transaction Fee Savings Hit $150,000 And Counting

The Optimism Bedrock marks a significant milestone in the network’s evolution. This groundbreaking upgrade, successfully launched on June 7, ushers in a plethora of major advancements, most notably an impressive reduction in network costs. By implementing a so-called optimized batch compression and leveraging Ethereum as a data availability layer, the Bedrock upgrade has achieved a remarkable 56.1% decrease in transaction fees. These findings, meticulously compiled by OP Labs, Optimism’s core developer, highlight the tangible benefits that users have already begun to experience. In just a matter of days, the Bedrock upgrade has resulted in nearly $150,000 in savings for users, showcasing the immediate impact and financial advantages brought forth by this transformative enhancement. Optimism’s expected total user savings since migration, or during the first month in US dollars, is around $210,929. Bedrock upgrade has drop in transaction fees. Source: Dune.com This development has brought about a significant cost advantage for Optimism, facilitating the swift confirmation of transaction batches on the Ethereum network. As a result, the average transaction fees on Optimism have experienced a substantial decrease, plummeting from $0.57 to a mere $0.16. Bedrock Upgrade: Paving The Way For Superchain Revolution While the reduction in transaction fees is undoubtedly a remarkable improvement, the Bedrock upgrade holds greater significance as a crucial component of the developer’s ambitious vision—the creation of a groundbreaking “Superchain.” This visionary concept revolves around establishing an interconnected network of chains, leveraging Optimism’s OP Stack software. To commemorate the Bedrock upgrade, we’re releasing an open-edition NFT with our friends at @manifoldxyz. Minting will close on Friday, June 16th at 11:59 PM UTC, so you have just over a week to collect this piece of Optimistic history! https://t.co/Wszqu3PA5h pic.twitter.com/jsOgGLl88L — Optimism (???_???) (@optimismFND) June 8, 2023 The Superchain aims to integrate these individual chains into a cohesive ecosystem, enabling seamless communication and fostering collaboration within a unified environment. By harnessing the power of the Bedrock upgrade, Optimism takes a significant stride towards realizing this revolutionary vision, setting the stage for a new era of interconnected blockchain innovation. Optimism Makes Strides In Market Share And TVL Optimism’s impressive performance in the market has recently come to light, with L2 Beats unveiling its significant standing. At present, Optimism holds the second-largest market share, commanding approximately 18% of the market, showcasing its growing influence and acceptance. Moreover, Optimism has achieved a substantial Total Value Locked (TVL) figure, surpassing $1.6 billion. This noteworthy metric signifies the platform’s robust engagement and high level of activity, underlining the trust and confidence users have placed in Optimism.   Source: L2Beat Meanwhile, on-chain data on Optimism has revealed a decline in the 30-day active addresses metric. As of the current reporting period, the number of active addresses within this timeframe hovers around 147,000, indicating a noticeable decrease. These figures offer valuable insights into the level of interaction and user participation on the platform at the time of reporting. It will be interesting to see how the introduction of the Bedrock upgrade might influence these metrics, potentially shaping the future trajectory of user engagement on Optimism. Featured image from TokenInsight

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Now That Optimism ‘Bedrock’ Hard Fork Is Done, What Can We Expect?

Optimism ushers in a new era with the successful completion of its highly anticipated “Bedrock” upgrade. This transformative enhancement, announced by OP Labs, the network’s developer, brings forth accelerated deposit times, decreased layer-1 fees, and fortified security measures.  The implementation of these advancements marks a pivotal step in the developer’s ambitious mission to establish a “Superchain” comprised of scalable Web3 networks, leveraging the cutting-edge Optimism OP Stack software.  Related Reading: Polygon (MATIC) Large Transactions Explode 742% Amid Latest SEC Attack Optimism Bedrock: Revolutionizing Efficiency & Security According to an announcement by Optimism on Twitter, the network now possesses the ability to identify chain reorganizations occurring on Ethereum, seamlessly reflecting these reorgs in users’ Optimism balances. This revolutionary development has paved the way for deposit times to be dramatically reduced to a mere one minute, in stark contrast to the previous average wait time of 10 minutes.  ?OP Mainnet’s migration to Bedrock has concluded and the Bedrock sequencer has started up. Key external OP Mainnet infrastructure is starting to come back online. You can track infrastructure status here:https://t.co/XTtaArdI03 — Optimism (???_???) (@optimismFND) June 6, 2023 The significant time savings are achieved by eliminating the need to achieve finality on L1 before processing deposits from Ethereum to Optimism. Streamlined Gas Optimization Recognizing the importance of affordability and accessibility, the Bedrock upgrade takes a stride towards a more user-friendly ecosystem. By leveraging the network’s innovative gas optimization techniques, the development team behind Bedrock has successfully slashed data availability fees on Ethereum by a remarkable 40%.  This momentous reduction is seamlessly passed on to Optimism users in the form of significantly lowered gas fees. As a result, participants can now transact on the network with increased efficiency and cost-effectiveness, making Optimism an even more attractive platform for decentralized activities. BTCUSD trying to reclaim $27K territory. Chart: TradingView.com Fortifying Security With 2-Step Withdrawal Process Ensuring the utmost security of user assets has always been a paramount concern for the Optimism team. With the implementation of Bedrock, the network introduces a robust two-step withdrawal process, explicitly designed to mitigate the risk of potential bridge exploits.  By implementing this comprehensive security measure, Optimism takes a proactive stance in safeguarding user funds and fortifying its infrastructure against potential vulnerabilities. As a result, participants can engage with the network confidently, knowing that their assets are shielded by cutting-edge security features. Related Reading: Pepecoin Frenzy Fades: How Meme Token’s Price, Market Cap Were Cut In Half A Promising Future With the arrival of the Bedrock upgrade, Optimism sets a new benchmark for efficiency, affordability, and security within the realm of decentralized networks. The remarkable reduction in deposit times, coupled with substantial gas fee optimizations, ensures that users can interact with the platform seamlessly while enjoying cost savings.  Furthermore, the implementation of a robust two-step withdrawal process offers an additional layer of protection, solidifying Optimism’s commitment to maintaining a secure and trusted environment.  As the network continues its journey towards building a Superchain of scalable Web3 networks, powered by the state-of-the-art OP Stack software, the future looks promising for Optimism and its growing community of users. Featured image from Optimism Docs

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Optimism successfully completes ‘Bedrock’ hard fork, reducing deposit times, layer-1 fees

The upgrade is part of a series of reforms meant to increase modularity in the OP Stack, allowing developers to spin up their own networks using the software.

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Bedrock Upgrade: How Optimism Game-Changer Could Impact OP Price

Optimism is gearing up for its eventual mainnet upgrade next week. This upgrade will offer lower protocol and security fees for users on the platform. This led to the ecosystem’s governance token, OP, enjoying an increase in price, albeit a modest 3.7% in the past 24 hours. This price movement only came after last month’s dismal performance where OP dropped by over 30% in the monthly timeframe. With the promise of lower fees along with Ethereum-like security for the coming upgrade, we might see OP continue its present bullishness. Related Reading: XRP Climbs 12% As Crypto Celebrates 11-Year Milestone Optimism: Laying The Bedrock For Future Growth Touted as the Bedrock mainnet upgrade, it aims to improve efficiency to drive down costs for investors on the platform. According to Optimism’s recent blog post, it should be able to drive protocol and security costs by a whopping 47%. The upgrade will use channels that will be split again to further optimize data compression. ???? Layer2 network Optimism is gearing up for the Bedrock Upgrade soon! ???? Discover how this game-changing update boosts scalability, security, and efficiency for Optimism, and what it means for the future of #Ethereum.#Optimism $OP #Layer2 #EIP1559 — KuCoin (@kucoincom) June 2, 2023 This upgrade also corresponds to Ethereum’s Dencun upgrade, which will drive down on-chain costs as a result of danksharding. Danksharding is a process that makes data blobs available for use by Layer 2 protocols like Optimism. This improvement would make Optimism more attractive to developers. OP total market cap currently at $970 million on the weekend chart: TradingView.com Along with the Bedrock upgrade is the upcoming OP Stack Mods which are improvements on the OP Stack layer by community members. These modifications can be voted on by the community to be an official part of the OP Stack layer. The upgrade also opens a path for Optimism to include improvements on its fault proofs with incentives for the community to propose improvements in the system. At $1.50, How Can This Impact OP Price?  The token’s current trajectory puts it on a perfect path towards higher highs in the coming days. At the moment, OP bulls are targeting $1.70 in the medium to long term with a potential to break through toward the $2 range. If the momentum permits it, investors and traders should continue its current price movement for higher gains. Source: CoinMarketCap With Bitcoin gaining ground at the time of writing, the gains made by OP bulls should be boosted in the medium term. However, investors should be careful of any bearish advances that might come in the next couple of days. Related Reading: Floki Inu Gains Momentum As Chinese E-Commerce Giant Recognizes Its Utility The token’s current support at $1.3 has no backing which could pull OP to the sub-$1 range. If this happens, OP bulls should be able to endure a possible drop to $0.5 support. But the current momentum held by the token is enough for investors to confidently target higher highs in the coming days. -Featured image from Shutterstock

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