Tezos Implements Jakarta, Its 10th Forkless Protocol Upgrade.
In a tweet on Tuesday, Tezos reveals it has launched “Jakarta,” its 10th protocol upgrade named after the Indonesian capital.
— Tezos (@tezos) June 28, 2022
Jakarta is expected to bring rollups to the blockchain and an improvement to its “Michelson Tickets” system. Unlike other Layer 2 rollups, Tezos is working towards building rollups that will be integrated with the blockchain and not run as smart contracts.
Developers say the latest upgrade will bring improved scalability and decentralization capabilities to the blockchain.
The Jakarta upgrade is set to boost the networks already impressive transaction speed and finality. Notably, the upgrade will also be combined with an experimental implementation of optimistic rollups dubbed “Transaction Optimistic Rollups” (TORUs). TORUs will allow users to exchange digital assets without executing smart contracts.
The experimental rollup is believed to significantly increase the network’s high throughput applications on the blockchain. Additionally, implementing TORUs natively on the blockchain and not as a smart contract as optimistic rollups are implemented on competitor Ethereum will allow developers to come up with more seamless scalability solutions.
Tezos has become increasingly popular for its ability to undergo upgrades without hard forks. Even more impressive is the fact that an exploit is yet to be recorded on the blockchain.
Notably, Tezos is a blockchain built for the development of decentralized apps, putting it in the same arena as heavyweights like Ethereum, Solana, and Avalanche. With its impressive scalability and security performance, analysts expect the blockchain will likely get more attention in the future.
Weeks ago, in a very significant move, leading stablecoin Tether launched on the blockchain, a move that shows the increased recognition it is getting, and it is likely to lead to increased adoption. “Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth,” surmised Tether CTO Paolo Ardoino at the time.
Aside from upgrades and new stablecoin support, the network has been actively pursuing sports partnerships and sponsorship deals. For example, on June 17, The Crypto Basic reported that Tezos had reached a partnership agreement with Mclaren Racing to create an NFT experience for fans. Additionally, In February, the network revealed that it had become the official training kit partner of popular English football club Manchester United.
At the time of writing, Tezos is leading the Top 50 crypto assets in terms of gains in the last 24 hours, according to data from CoinMarketCap. The native token XTZ is up 7.46% and is exchanging hands on mainstream exchanges for $1.45.