Ethereum-based Layer-2 (L2) blockchain protocol altcoin Optimism (OP), bedrock announced that the update voting process has been rescheduled.
The new upgrade will take place from March 2 to April 5, giving every interested community member a wide window of time to give them the opportunity to attend this important event.
Altcoin Optimism (OP) Rises 11% After New Update Announcement
We’ve rescheduled the Bedrock update vote to Cycle 11 (March 2 – April 5) to address bugs uncovered by community members as part of the Bedrock bug bounty contest.
Update for the Collective: We have rescheduled the Bedrock upgrade vote to Cycle 11 (March 2 – April 5) to resolve bugs uncovered by vigilant community members as part of the Bedrock bug bounty contest.
— Optimism (✨🔴_🔴✨) (@optimismFND) February 17, 2023
The planned update is designed to help remove or fix any bugs discovered by community members as part of the Bedrock Bug Bounty challenge.
The extended timeframe for the planned protocol fix will allow core team members to fix any bugs discovered when the voting period begins.
He noted that as a relatively new L2 protocol, this bug fix event is being taken seriously as it is the first event to be performed by the team.
“Our confidence in the Bedrock update remains strong. In our first proposal, we predicted that the prize competition would be productive.
However, this is Token House’s first raise vote. Setting the bar for rigor in all future protocol upgrades is critical.”
Effect on Price
Any bug fix in any protocol is aimed at increasing the usability of the blockchain across the board.
According to Optimism, the effect of the Bedrock upgrade is long-term, so the focus is on creating a protocol that works sustainably for everyone.
These plans are beneficial for the native token OP of the protocol. Because the more available Optimism, the more demand for the token will increase, which will help the price increase.
At the time of this writing, Optimism is down 2.33% to $2.70 but is up 11% in the last 7 days.
*Not investment advice.
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