cryptonews.net
Tezos (XTZ) has successfully completed the Mumbai update, unlocking several important features for users and developers. According to the team's press release, the latest update unlocks a new layer 2 scaling solution dubbed Smart Rollups, which now enables the Tezos Distributed Ledger Technology (DLT) network to process more than one million transactions per second (TPS) without sacrificing decentralization.
With the Mumbai update, Tezos also added support for leading general-purpose programming languages such as Rust, C, and C++, increasing the network's use cases and giving developers more flexibility. The block creation time has been reduced from 30 to 15 seconds, which was made possible thanks to the so-called pipelined validation. This change reduces network latency and provides a smoother overall user experience.
At the time of writing, Tezos’ native XTZ token is hovering around $1.12 with a 24-hour trading volume of $34,046,770. According to CoinGecko, the price of XTZ is down over 87% from its all-time high (ATH) of $9.12 reached in October 2021.
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