cryptonews.net
The Tezos blockchain on Monday rolled out its fourteenth “Nairobi” network upgrade, which, among other improvements, increases transaction speeds up to eight times. Previously, the blockchain was able to process up to 1 million transactions per second (tps) after the March “Mumbai” upgrade.
The developers said that Nairobi has introduced a new fee mechanism that charges users differently based on network usage, instead of the single flat fee that was charged in previous versions of the blockchain. Nairobi also allows the Smart Rollups scaling tool to be constantly and automatically updated as new Tezos updates roll out in the future.
Meanwhile, usage of the Tezos network currently remains significantly low. Tezos has only processed 68,000 transactions in the last 24 hours compared to popular blockchains in the same time period. The XTZ network token is down 2% to 80 cents at the time of writing.
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