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Tezos Announces Activation of its Ninth Protocol Upgrade, Ithaca 2

Altcoins

cryptoknowmics.com 02 April 2022 09:46, UTC
  
Reading time: ~2 m

Proof-of-Stake blockchain network Tezos has announced the activation of its ninth protocol upgrade, Ithaca 2.

Tezos’ Ithaca Upgrade Goes Live

According to an announcement, Ithaca 2 replaces the current consensus algorithm, known as Emmy, with Tenderbake, which will produce faster transactions and smoother-running applications on Tezos. https://twitter.com/tezos/status/1509956858303365120 In addition to Tenderbake, Ithaca 2 prepares Tezos for scalability efforts, such as rollups for WebAssembly and Ethereum Virtual Machine (EVM) compatibility, with pre-checking, a validation scheme that increases throughput. The upgrade will also reduce the requirement to become a network validator by 25% from 8,000 tez to 6,000 tez, augmenting the blockchain’s decentralized nature. From January 2021 to January 2022, smart contract calls on Tezos increased from 100,000 to more than 6.2 million. The blockchain’s average annual energy footprint is equal to that of 17 people.

Bagging Partnerships With Major Brands

Tezos’ adoption is boosted by partnerships with major brands and franchises like Kia, The Gap, Red Bull Racing, and Manchester United, reflecting their trust in the affordable and highly energy-efficient blockchain. The price of Tezos's XTZ currency has risen 10.2% to $4.01 over the last 24 hours, according to data from CoinGecko.


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