Tezos Completes Major Upgrade that Increases Decentralization and Improves DApps
2 min read

Tezos Completes Major Upgrade that Increases Decentralization and Improves DApps

By News Desk

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.

Image via Shutterstock

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.”

Newsletter Inline

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Latest Posts

Trader Joe Review
Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche
Trader Joe Review

Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche

July 2, 2022 30 min read
Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
Raydium Review: Solana’s DeFi Liquidity Mammoth

Raydium Review: Solana’s DeFi Liquidity Mammoth

June 11, 2022 17 min read

Related Posts

Trader Joe Review
Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche
Trader Joe Review

Trader Joe Review 2022: Complete Guide to the Top DEX on Avalanche

July 2, 2022 30 min read
Huobi Global Review
Huobi Global Review 2022: Good Exchange with DEEP Liquidity
Huobi Global Review

Huobi Global Review 2022: Good Exchange with DEEP Liquidity

June 29, 2022 37 min read
FTX vs FTX US Review
FTX vs FTX US: Which one is BEST for You?
FTX vs FTX US Review

FTX vs FTX US: Which one is BEST for You?

June 27, 2022 14 min read
Bancor Review
Bancor Review: Impermanent Loss Protector?
Bancor Review

Bancor Review: Impermanent Loss Protector?

June 22, 2022 15 min read
Bridge Mutual Review
Bridge Mutual: Insurance for your Crypto
Bridge Mutual Review

Bridge Mutual: Insurance for your Crypto

June 22nd, 2022 22 min read
Serum Review
Serum Review: Solana’s One-Stop DeFi Toolbelt
Serum Review

Serum Review: Solana’s One-Stop DeFi Toolbelt

June 16, 2022 17 min read
crypto com
Crypto.com Exchange Review 2022: A World-Class Crypto Exchange
crypto com

Crypto.com Exchange Review 2022: A World-Class Crypto Exchange

June 14th, 2022 30 min read