Base Engineer Proposes Fjord Network Upgrade for OP Stack

Base engineer Roberto Bayardo has proposed a Fjord network upgrade to the OP Stack. The upgrade includes the introduction of EIP-7212, which utilizes secp256r1 elliptic curves for secure and efficient signature verification, significantly reducing gas costs for smart wallet applications. In addition, the upgraded version also incorporates Brotli compression technology to reduce data availability costs. EIP-7212 has been implemented on Polygon and is expected to be supported by other L2s such as Arbitrum and zkSync. The Fjord upgrade is designed to further reduce overall transaction fees on the OP Stack chain. The upgrade is scheduled to be implemented on July 10, 2024 and is currently awaiting approval from the Optimism Governance Board.