- The latest upgrade comes with a 25 percent reduction in requirements to become a network validator.
- Tezos also disclosed in a statement that its users’ activities have been booming since last year.
Tezos has officially completed its major ninth upgrade codenamed “Ithaca 2”. This introduces a new consensus mechanism, Tenderbake which comes along with major improvements including “near-instant finality”. This creates absolute certainty of the impossibility of reversing transactions after two block confirmation.
This upgrade also means that the old consensus mechanism, Emmy, has been replaced as the introduction of Tenderbake would facilitate high transaction speed and smooth running of applications on the network. It achieves a shorter block time of at most one second, bringing its open-source protocols to the transactions per second on average (TPS) level of VISA.
Ithaca 2 implementation also set the network up for a huge scalability plan according to the official release.
Ithaca 2 further prepares the Tezos protocol for ambitious scalability plans such as rollups for WebAssembly and EVM compatibility with pre-checking, a lightweight validation scheme for the mempool which will increase overall throughput.
Another advantage that comes with the latest upgrade is the reduction of the requirement to become a network validator by 25 percent. In order to strengthen the decentralized nature of the network, the requirement has been reduced from 8,000 tez to 6,000 tez.
Related: Why Tenderbake Is Such A Big Deal For Tezos
Tezos users’ activities booming since last year
The company disclosed in a statement shared with CNF that its users’ activity has been booming since last year.
Over the last year, Tezos has seen booming growth in user activity, with smart contract calls increasing per month from 100,000 in January 2021 to over 6.2 million in January 2022. Tezos continues to see adoption and momentum grow, with landmark technical integrations by leading sports franchises and global brands such as Red Bull Racing, Manchester United, The Gap, Kia, and more. By building on Tezos, industry leaders are showing their confidence in Tezos as the energy-efficient, low-cost blockchain of choice for the Web3 revolution.
Since its inception, Tezos has been evolving, and its advanced governance framework enables it to integrate innovations across the industry. In March 2022, the ecosystem developers came out with the scaling announcement highlighting a proposal for an optimistic rollup modeled on Arbitrum.
With these regular upgrades, Tezos continues to provide both best-in-class core technology and leading features across privacy, scalability, and security.
Tezos has enough avenues for growth as it deals with real-world use cases of Proof-of-Stake models. Besides these upgrades, the project recently completed a partnership deal with Misfits Gaming Group (MGG), a global eSports company. In addition, it also sealed a deal with Manchester United.
Read More: Tezos scores $27M deal with Manchester United as Baby Doge partners with TSG Hoffenheim
Mason Edwards, the Chief of Staff at Tezos Foundation in a statement mentioned that the project has the sustainability and the unique ability to adapt to a fast-evolving technology. And obviously, its marketing and branding activities have increased significantly this year.
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