Tezos, a pioneering blockchain technology for proof-of-stake consensus and on-chain governance, has enabled Mumbai, its thirteenth core protocol upgrade. The Mumbai update introduces Smart Rollups, a new layer 2 scalability solution built directly into the protocol, which puts Tezos at the forefront of optimistic rollup technology.
Smart Rollups allow decentralized applications (dApps) to benefit from their own dedicated resources to process a large amount of transactions, while the integrity and security of the Smart Rollup is guaranteed by the Tezos main chain or layer 1.
Due to this approach, the Tezos ecosystem might surpass the milestone of one million transactions per second in 2023, without sacrificing decentralization.
Secure, flexible and developer-friendly
Smart Rollups come with state-of-the-art technical features, namely:
-
Fully decentralized and open interactive fraud proofing ensures the security and integrity of rollups (scalability solution) as long as there is at least one honest participant in rollup validation.
-
A WebAssembly runtime environment (WASM) enables flexible development and deployment of a wide range of decentralized applications. Developers can now use general purpose programming languages such as Rust, C, and C++ to create applications ranging from custom business solutions to open public platforms such as an EVM-compatible chain on top of Tezos.
-
Advanced features of rollups simplify interactions such as streaming Layer 1 for all rollups, calling Layer 1 Smart Contracts from Layer 2, or transferring assets between layers.
-
New data availability solutions are possible as Smart Rollups support custom data channels to interface with data providers external to the Tezos blockchain.
Lower latency, faster blockchain
In addition to rollups, Mumbai also features improvements to Tezos Tier 1. Blocking time is reduced from 30 to 15 seconds, which is possible with so-called piped validation. This change reduces network latency and provides an overall simpler user experience.
The protocol update also includes updates to previously existing features, such as Tickets, which become more flexible by allowing direct transfers between users.
Community driven evolution
As with all Tezos upgrades, Mumbai has been validated and approved by the community through the Tezos blockchain on-chain governance process.
The activation of Mumbai marks the culmination of a months-long collaboration between the developer teams and the wider Tezos community.
Experts from Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda and Functori contributed to this update, which ushers in a new era of scalability and opens the door for exciting new applications to be deployed on the Tezos blockchain.
About TEZOS
Tezos is smart money that redefines what it means to store and exchange value in a digitally connected world. A self-updating and energy-efficient proof-of-stake blockchain with a proven track record, Tezos seamlessly embraces the innovations of tomorrow, without the network disruptions of today. For more information, visit www.tezos.com.
About TEZOS FOUNDATION
The Tezos Foundation is a Swiss non-profit foundation that supports the development and long-term success of the Tezos protocol, an energy-efficient blockchain with the ability to evolve by upgrading. For more information, visit www.tezos.foundation.
The original language text of this announcement is the official authorized version. Translations are provided as a convenience only and must refer to the original language text, which is the only version of the text that is legally binding.
View the original version on businesswire.com:
Contact:
Randall Woods
[email protected]
Source: BUSINESS WIRE
