- Tezos has announced a revolutionary upgrade.
- The upgrade is the ninth upgrade to the Tezos protocol and it is named Ithaca 2.
- It is a revolutionary upgrade that promises faster transactions and smoother-running dapps, as well as preparing for highly anticipated scaling plans with rollups.
Tezos, a proof-of-stake blockchain, has announced a revolutionary upgrade that promises faster transactions and smoother-running dapps, as well as preparing for highly anticipated scaling plans with rollups.
According to a press release, the upgrade is the ninth upgrade to the Tezos protocol and it is named Ithaca 2. The Ithaca 2 upgrade replaces the current consensus algorithm, known as Emmy, with Tenderbake, which enables lower block times, resulting in faster transactions and smoother-running applications.
The Ithaca 2 upgrade is a first for blockchains and open-source decentralized software. It demonstrates the effectiveness of the Tezos governance framework, which was designed to allow for dramatic design changes.
Ithaca 2 prepares the Tezos protocol for ambitious scalability plans, such as rollups for WebAssembly and Ethereum Virtual Machine(EVM) compatibility with pre-checking, a lightweight validation scheme for the mempool that will increase overall throughput.
Finally, the Ithaca 2 upgrade will reduce the requirement to become a network validator (“baker”) by 25%, from 8,000 tez to 6,000 tez, further enhancing Tezos’ decentralized nature.
Tezos ecosystem developers made a scaling announcement in March 2022, outlining proposals for optimistic rollups modeled on Arbitrum, a popular roll-up system on Ethereum, and zk-rollups based on leading industry research. Tezos continues to provide best-in-class core technology as well as leading features in privacy, scalability, and security through these regular upgrades.
Tezos smart contract calls have skyrocketed from 100,000 per month in January 2021 to over 6.2 million in January 2022.