Tezos recently rolled out its highly anticipated “Nairobi” upgrade, the fourteenth enhancement since the blockchain’s inception in 2018. With this latest upgrade, Tezos is poised to accelerate its transaction speed, now about eight times faster than its original state.
As an innovative blockchain platform, Tezos empowers developers to build decentralized applications (dApps) and execute smart contracts. Engineered to deliver a robust and adaptable infrastructure, Tezos caters to diverse use cases. Moreover, Tezos boasts its specialized smart contract language named Michelson.
Tezos boasts a key feature: its self-amendment capability. This means that the protocol can evolve and upgrade itself without necessitating a hard fork. Through a formal governance process, stakeholders have the power to propose and vote on changes to the protocol.
Tezos utilizes a Proof of Stake (PoS) consensus mechanism known as “Liquid Proof of Stake” (LPoS). In this system, token holders can actively participate in block creation and transaction validation by “baking” their tokens. Bakers are selected at random to generate new blocks, and they are duly rewarded for their involvement.
Details of Nairobi upgrade
The Nairobi upgrade, developed by Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori, was activated at block number 3,760,129 on June 24 2023 00:07:10 UTC.
In addition to increasing transaction speed by eight times, the Nairobi upgrade brings improvements to smart rollup integration with the Tezos blockchain. It also accelerates consensus reaching and mempool validation processes, among other enhancements.
Before the Nairobi upgrade, there was Athens, Babylon, Carthage, Delphi, Edo, Florence, Granada, Hangzhou, Ithaca, Jakarta, Kathmandu, Lima, and Mumbai. Each of these upgrades is designed to make Tezos blockchain better.
According to Tezos, its Tezdev event coming up in July will be an opportunity to discuss further developments about the blockchain with the community, especially developers working on the chain. The event will also explore in depth the rollup smart contract integration on Tezos.