10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Seven Different Teams Introduce The 13th Tezos Protocol Upgrade Proposal – Mumbai

Seven separate Tezos teams from four different countries have introduced the 13th Tezos protocol upgrade proposal: Mumbai.
Features include: Smart Rollups on mainnet, a zk-rollup solution on testnet, and validation pipelining to reduce block times to 15 seconds.

Protocol Upgrade Proposal ‘Mumbai’ Introduced.

Seven separate Tezos teams from four different countries have introduced the 13th Tezos protocol upgrade proposal, Mumbai.

Features include:

Smart Rollups on mainnet, a zk-rollup solution on testnet, and validation pipelining to reduce block times to 15 seconds.

This new protocol upgrade proposal introduction has been released even before the 12th upgrade ‘Lima’ has been adopted.

Lima was an upgrade that laid the groundwork for Mumbai, it added more pipelining, improvements to ‘Tickets’, ghostnet fixes, and baker consensus keys.

Pipelining And Block Reduction To 15 Seconds

The pipelining work done in Lima was particuarly important as it further enabled the separation of the validation from the application of operations and blocks in order to speed up their processing and to increase layer 1 throughput.

Validating means performing basic checks, such as the cryptographic signature being valid, and that there are funds to pay fees. This is a light and quick process.

Applying means executing the full contents of the operation, whether a simple transaction or a complex contract call. This can be much more computationally intensive and hence time consuming for the node.

With the introduction of Mumbai, we see the conclusion of this pipelining project, enabling block time reduction from 30 to 15 seconds.

This represents the 2nd time a Tezos protocol upgrade has cut block times in half. Block times were also cut from 1 minute to 30 seconds with the introduction of Granada.

Smart Rollups

One of the most important and anticipated features of Mumbai is the introduction of smart rollups on mainnet.

Rollups are an intended layer 2 permissionless scaling solution for the Tezos blockchain.

Anyone can originate and operate one or more rollups, allowing to increase the throughput of the Tezos blockchain.

On Tezos, rollups are different from similar solutions on other blockchains as they are classed as ‘Enshrined Rollups‘.

Optimistic rollups on Tezos are implemented as part of the Tezos protocol directly, and not as smart contracts. This is often called enshrined rollups.

An immediate benefit is that it allows for a specialized, more gas- and storage-efficient implementation.

For example, deploying a TORU is way less costly in terms of storage than deploying a smart contract of similar complexity.

This means that unlike layer 2 rollup solutions on other blockchains, no one owns a smart contract rollup on Tezos as the network owns the rollup.

This is important as such smart contract rollups created by external teams have additional security concerns such as the question of who has admin keys to the contract.

It also has the additional benefit of being a more decentralized solution taking centralized external teams and companies away from the equation.

Like with pipelining the smart rollups feature had groundwork laid on the Lima protocol where they became available on Mondaynet testnet.

Since Mondaynet, smart rollups have seen a number of significant improvements, which will be seen in the Mumbai deployment.

One of those changes is that smart rollups are now forward compatible with the Data-Availability Layer (DAL), a data sharding feature that is in the works for improving scalability.

This means that the rollups will be compatible with future Tezos protocol scaling upgrades.

For developers, smart rollups mean that anyone to deploy decentralized WebAssembly applications with dedicated computational and networking resources. 

For example, developers will be able to deploy applications developed in languages such as Rust which compile easily to WebAssembly for fast reliable code, especially suited for web-based applications.

Validity Rollups (ZK-Rollups) Introduced To Mondaynet: Epoxy

Another exciting scaling solution put forward in the Mumbai upgrade is the introduction of validity rollups (otherwise known as zk-rollups) onto Mondaynet and these are to be named Epoxy.

Zk-rollups have been seen as the ‘holy-grail’ of rollups by many top engineers, due to instant finality, the ability to introduce different data availability layers, and all whilst maintaining privacy.

These new potential rollups allow

…for instant finality due to SNARK’s proof-of-validity, as opposed to the “refutation game” used by Optimistic Rollups.

This solution can not only be seen as a scaling upgrade, but as a privacy upgrade too.

Epoxy allows for applications to be built on Tezos which do not necessarily need to rely on Tezos’ Layer 1 to publish and distribute data, but rather can implement their own data availability layers.

This will enable building privacy-preserving solutions which require keeping sensitive information (reified as part of their state or transactions) private from the public Layer 1.

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Banner Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Accepted file types: pdf, doc, docx, Max. file size: 128 MB.
Submit Article: Suitable Formats = PDF, WORD
By Uploading an article, you are accepting all to all copyright and information that is to the best of your knowledge true and accurate.

Other News

View More
22 September 2023

CEERTIF: Real-time File Certification via Tezos Blockchain for Construction and Insurance Professionals

CEERTIF, a mobile application for installers, agents, and insurers in France, has introduced a groundbreaking platform that leverages the TEZOS blockchain to secure and geolocate media in real time.

Read More
19 September 2023

La Poste’s NFTimbre Stamp Powered By Tezos Sees Launch Day Sale Success

An initial 100,000 NFT stamps were for sale, at this point over 18,200 have been sold, including 13,050 NFTs sold in less than 4 hours, equating to over €145,000 in sales since launch yesterday.

Read More
17 September 2023

Tezos Teams Integrate MetaMask into the Tezos Ecosystem through a Custom Snap

In a recent integration, teams within the Tezos ecosystem have enabled more than 30 million MetaMask users to connect to the Tezos blockchain. This collaboration expands the utility of MetaMask, one of the most popular digital asset wallets, to encompass the Tezos blockchain.

Read More

Subscribe to weekly tezos news

Join The XTZ. News Newsletter To Receive The Latest Tezos
News And Interviews.

Subscribe To Weekly Tezos Token Prices

Join the Tezos Token Price newsletter to receive the latest Tezos token prices on a weekly basis.