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Tezos Activates Mumbai, Introduces Smart Rollups

  • March 30, 2023
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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Tezos, a self-amending proof-of-stake blockchain, has activated its 13th core protocol upgrade, Mumbai, introducing Smart Rollups, a Layer-2 scaling solution, for faster transaction processing speeds.

Tezos Introduces Smart Rollups Via Mumbai

Smart Rollups enable decentralized applications (dapps) to utilize Tezos’ resources to process a high volume of transactions while ensuring the integrity and security of the rollup. This approach will allow the blockchain to process more than one million transactions per second, all without sacrificing decentralization.

Tezos aims to enhance its scalability and performance with Smart Rollups. Notably, the Mumbai upgrade brings several technical features that make it a developer-friendly platform.

There is a WebAssembly (WASM) execution environment, allowing developers to build using general-purpose programming languages like Rust, C, and C++. Accordingly, it is easier for developers to create and deploy dapps on the proof-of-stake blockchain.

The upgrade also includes decentralized and open interactive fraud proofs. This is an execution environment that allows flexible development and deployment of dapps and advanced rollup features that simplify interactions between different layers.

Further improvements to the mainnet include reducing block time from 30 to 15 seconds through pipelined validation. With this, the blockchain separates the validation from the application of blocks and operations, which allows blocks and operations to be propagated faster.

The enhancement also updates previously existing features, such as Tickets, which would enable direct transfers between users, making them more flexible.

A Collaborative Effort

The Mumbai upgrade comes after months of development collaboration between its blockchain developer and the Tezos community. Experts from, among others, Nomadic Labs, contributed to the upgrade.

Tezos is known for its on-chain governance process involving community participation in approving and validating upgrades. This is advantageous and prevents conflicts that may result in damaging hard forks like with Bitcoin and Bitcoin Cash or Ethereum and Ethereum Classic. As such, Mumbai was validated and approved by the community through the platform’s on-chain governance process before activation.

In December, the network activated Lima, which like Mumbai, aimed at improving general platform performance. During the last upgrade, developers ferried in Kernel-Based Optimistic Rollups and pipeline validation for faster block processing times. 

There were also improvements on Tickets, so it became easier to track tickets and Ghostnet fixes arising from the migration from Jakarta to Kathmandu testnets. 

A notable improvement in this upgrade was the introduction of Consensus keys which allows ‘bakers’, that is, validators, to change their “key” without necessarily changing their public address.

Despite this, XTZ, the native token of Tezos, is stable on the last day, trading at $1.11, according to CoinMarketCap.Tezos Price On March 30| Source: XTZUSDT On Binance, TradingView

XTZ Price On March 30 | Source: XTZUSDT On Binance, TradingView

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