Tezos (XTZ) has announced that the long-awaited Mumbai upgrade has been officially implemented. According to the announcement, the Mumbai Upgrade is the thirteenth core protocol upgrade the network will record since its inception. The update gives priority to scaling solutions.
As reported by the executives, the upgrade also includes its own customized “Smart Gathering” technology. This feature will help the protocol process up to 1 million transactions on the blockchain without sacrificing decentralization.
Tezos underlined that, in addition to its ability to handle a high number of transactions, the protocol now has better security and network integrity.
Smart aggregations enable decentralized applications (dApps) to leverage their own dedicated hardware resources to do high volumes of transactions, while the integrity and security of smart aggregation is guaranteed by the Tezos mainchain, or Tier 1.
Thanks to this approach, the Tezos ecosystem will be able to process one million transactions per second in 2023 without sacrificing decentralization.
Under the protocol, developers will also be able to use the WebAssembly runtime accompanying the upgrade to deploy dApps written in general-purpose languages. Tezos WASM will also support EVM compatible codes.
Koinfinans.com As we reported, Mumbai escalation is looking for a solution to a general problem of blockchain networks, scaling. Similar to Tezos, projects such as Polygon and Cardano are also working on their own scaling solutions.
In conclusion XTZ token Mumbai looks very promising to surpass its $1.1 high with its upgrade. However, it is not possible to interpret future developments clearly.
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Source : Crypto News Flash