Tezos, a blockchain for Proof-of-Stake consensus and on-chain governance, has activated its thirteenth core protocol upgrade, Mumbai, introducing Smart Rollups, a new Layer 2 scaling solution built directly into the protocol. At block #3,268,609, on March 29, 2023, 16:40:29 UTC, the Mumbai proposal was successfully activated, resulting in an upgrade to the Tezos blockchain.
- Smart Rollups enable dApps to benefit from their own dedicated hardware resources to process a high amount of transactions, while the integrity and security of the Smart Rollup is guaranteed by the Tezos main chain, or Layer 1.
- The upgrade paves the way for Tezos to shatter the milestone of 1 million transactions per second in 2023 without sacrificing decentralization.
- Smart Rollups come with state-of-the-art technical features, including WebAssembly (WASM) execution environment, advanced rollup features, and custom data channels.
- Mumbai also introduces improvements to Tezos’ Layer 1, reducing block time from 30 to 15 seconds, enabling pipelined validation that reduces network latency and providing a smoother user experience.
- The protocol upgrade also includes updates to previously existing features, such as Tickets, which become more flexible by allowing direct transfers between users.
- Tezos is a self-upgradable, energy-efficient, and highly adaptable platform that can seamlessly integrate innovations without disrupting the network. With its on-chain governance system, the Tezos community can vote on and implement upgrades to the network in a smooth and efficient manner, without the need for hard forks or contentious debates.
- Tezos Foundation’s on-chain governance process validated and approved Mumbai, which marks the culmination of a months-long collaboration between developers teams and the broader Tezos community.
- With this upgrade, a new era of scalability has been ushered in with contributions from industry experts at Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori. Their work on the latest update for Tezos has opened doors for the deployment of exciting new applications on the platform.
- With its innovative Proof of Stake consensus mechanism, Tezos is able to maintain its decentralization while consuming far less energy than traditional Proof of Work blockchains.