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Major Tezos (XTZ) Upgrade Proposal Unveiled by Nomadic Labs

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Tue, 17/01/2023 - 18:55
Major Tezos (XTZ) Upgrade Proposal Unveiled by Nomadic Labs
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Nomadic Labs, the leading blockchain developer in the Tezos community, has unveiled the Mumbai upgrade proposal, which is set to usher in a whole new level of scaling capabilities within the Tezos network and beyond.

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Tezos co-founder Arthur Breitman claims that this is one of the most "transformative" upgrades for the popular proof-of-stake blockchain.  

The main features revealed by Nomadic Labs include the activation of smart rollups, the arrival of Epoxy on Mainnet that will further bolster instant finality due to SNARKs proof-of-validity, reduction of block time to 15 seconds, ticket transfers between accounts and two new RPC endpoints for improved visibility into ticket ownership.

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Smart rollups constitute a powerful scaling solution that is now available on the mainnet. It allows individuals to deploy decentralized WebAssembly applications with dedicated computing and networking resources.

Moreover, with Epoxy making its debut in the Mondaynet testnet, users can now benefit from quicker finality validation mechanisms via SNARK’s proof-of-validity technology.

All these upgrades are expected to greatly ramp up scalability, leading to more efficient transactions and processing power for users within the Tezos network.

The reduced block time feature will also prove crucial in terms of guaranteeing swift transactions coupled with comprehensive ticket transfer support between user accounts. 

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