Tezos Completes Major Upgrade that Increases Decentralization and Improves DApps
Decentralized proof-of-stake blockchain Tezos has announced the completion of a major new upgrade that has a number of positive implications on its network.
In a press release, Tezos says that the long-awaited “Tenderbake” upgrade revolutionizes the blockchain by promising faster transactions and smoother-running decentralized apps (DApps), and prepares it for highly anticipated scaling plans with rollups.
After being voted in by the Tezos community, “Ithaca 2,” the ninth major upgrade to the network will replace the current consensus algorithm with “Tenderbake,” which the project describes as a revolutionary upgrade that “sets the stage for a new era of innovation for the Tezos Protocol.”
The new upgrade also prepares Tezos’ scalability plans for rollups, WebAssembly, and Ethereum Virtual Machine (EVM) compatibility by utilizing pre-checking, which is a lightweight validation scheme for the mempool which will increase throughput, according to the announcement.
Ithaca 2 will also lower the requirement to become a staker, known as a “baker” on Tezos, by 25%, from 8,000 tez to 6,000 tez.
Tezos’ latest upgrade comes following a number of different partnerships from big enterprises, including one with GK8, a crypto custody platform that acquired Celsius for $115 million last year.
GK8 was able to add support for Tezos on its platform after a grant from the Tezos Foundation, which the company plans to help contribute new infrastructure to the blockchain.
“High security and scalability are crucial for mainstream blockchain adoption. Tezos brings those features to the table, and we are thrilled to be expanding support to their network. We look forward to delving deeper into the bustling Tezos ecosystem,” GK8 CEO Lior Lamesh said in a press release.
Tezos also locked in a partnership with leading esports giant Misfits Gaming Group (MGG) to launch a new arm of the company called Black Born, which will be MGG’s blockchain gaming platform.
Vas Roberts, EVP Partnerships, of Misfits Gaming Group, said:
“Gaming can do a lot better, and blockchain technologies will help get us there. By building new practices upon a decentralized, indexed platform, we’ll reimagine how we work with our community, peers, and partners.
Tezos will help us share new levels of access, equity, and decision-making, and we’re thrilled to pioneer how blockchain can help gaming organizations redefine how they operate.”
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.