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Tezos, the smart contract blockchain famous for ICOs, reveals roadmap to rejuvenate
The developer teams behind the Tezos blockchain have unveiled “Tezos
THE roadmap, which lays out a development plan for the next two years, calls for splitting transaction execution into a separate “canonical rollup” that would support “atomic transactions across smart contracts written in different programming languages.” The main Tezos blockchain would serve as the base layer for consensus and transaction.
The post was co-authored by the developer teams at Nomadic Labs, TriliTech, and Functori.
But the project has struggled to stay at the top of the charts, with a token market capitalization of $749 million, about the 80th largest project based on CoinDesk data. The native XTZ token is 92% off its all-time high.
In 2022, developers began pushing to expand the Tezos network, according to a blog post.
“At the center of this strategy are Smart rollupsa scaling technology in which an optimized and dedicated second layer executes transactions, while consensus and settlement remain guaranteed” by the layer 1 blockchain, according to the post.
Another key feature is a layer dedicated to data availability on the Tezos mainnet.
The new roadmap bears a resemblance to the scaling efforts Ethereum has pursued in recent years, where transaction execution is offloaded to layer 2 auxiliary networks. New “modular” components have arisen to handle other functions handled by the Ethereum main chain, such as efficiently storing reams of data.
“To scale and maintain decentralization, Tezos has evolved from a monolithic design to a modular one, where groups of interconnected nodes take on different roles, while maintaining an integrated experience for builders and users,” according to the post.
The difference in the Tezos plan is that transaction execution could be handled by a single rollup instead of multiple layer 2 networks, as is the case with Ethereum.
“In theory, a rollup is all that is needed to meet the requirements of all but the most extreme use cases,” the post reads. “This is what Tezos
According to the plan, the canonical roll-up is expected in 2026.