Tezos

Tezos Completes Its 10th Forkless Protocol Upgrade, Jakarta 2, Giving it a Massive Competitive Edge

Tezos with Jakarta backdrop

Tezos is on fire

Tezos has successfully completed its 10th forkless network upgrade called Jakarta 2. In very cool fashion, Tezos names each new protocol upgrade after a different city in the world.

There are few blockchains able to push out upgrades every few months without a load of exploits. An impressive blockchain I've outlined before, Tezos appears to be a true outlier through its unique on-chain governance structure that allows for periodical, forkless network upgrades. In fact, there have been no known exploits on Tezos to date. Michelson, Tezos' native programming language, focuses on security through features like formal verification. Tezos features a unique type of POS; Liquid Proof-Of-Stake, which allows users to move their XTZ out of delegation at any time.

During this market downturn, it's important to pay attention to the DeFi projects that are truly setting themselves apart from the rest. The whole point of crypto, after all, is to have a more secure, unrestricted form of money than fiat, rather than more problems like Solana shutting down constantly. As such, Tezos is starting to attract lots of attention for its efficiency and reliability.

Jakarta 2 introduces rollups and improved tickets for massive new scalability

Ethereum is the top smart contracts blockchain in the world, but has experienced notorious scalability issues. To solve this, layer 2 protocols like Optimism and Cartesi now exist that utilize optimistic rollups that help scale Ethereum using batched off-chain computations. The difference between Ethereum and Tezos is that Tezos is already a more scalable L1 to begin with, utilizing an efficient form of POS and far lower fees, which are typically pennies.

Tezos is now moving in a similar direction, with their new feature called Transaction Optimistic Rollups, which will introduce layer 2 addresses to the blockchain. This is a stepping-stone to the more permanent and unique Enshrined Rollups which are under development by the various Tezos developer teams. They will not be smart contracts, but implemented natively in the protocol.

The second major advancement in Jakarta 2 is an improvement in Michelson Tickets, an exciting way for Tezos developers to avoid centralized smart contracts for tokens. Think of them as a more trust-minimized, decentralized version of Tezos FA2 tokens and Ethereum ERC-20 tokens.

Once these features are fulling rolled out, it's likely that developers from competing chains will migrate to Tezos. It's truly an exciting new era for the Tezos blockchain.

Cryptohopper