Base engineers propose Fjord network upgrade for OP Stack

Base engineer Roberto Bayardo proposed an Fjord network upgrade for the OP Stack. This upgrade includes the introduction of EIP-7212, which uses secp256r1 elliptic curve for secure and efficient signature verification, greatly reducing gas costs for smart wallet applications. In addition, the upgraded version also uses Brotli compression technology to reduce data availability costs. EIP-7212 has already been implemented on Polygon, and is expected to be supported by other L2s such as Arbitrum and zkSync. The Fjord upgrade aims to further reduce overall transaction costs on the OP Stack chain. The upgrade plan will be implemented on July 10, 2024, and is currently awaiting approval from the Optimism governance committee.