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Setchain: A Sidechain To Increase TPS By A Thousandfold – By IMDEA In Partnership With Nomadic Labs And Tezos Foundation
IMDEA Software is a research institute that has been contributing to the Tezos ecosystem since its first partnership with the Tezos Foundation to advance the Tezos protocol in 2018.
The Setchain paper was showcased at the 2022 IEEE International Conference on Blockchain.
The study is a result of a collaboration with the Tezos Foundation and Nomadic Labs.
By: XTZ News
28 September 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
IMDEA Software is a research institute that has been contributing to the Tezos ecosystem since their first partnership with the Tezos Foundation to advance the Tezos protocol in 2018.
The Setchain paper was showcased at the 2022 IEEE International Conference on Blockchain.
The study is a result of a collaboration with the Tezos Foundation and Nomadic Labs.
Besides optimistic rollups which are currently implemented in the Tezos protocol, there are more possibilities to scale the Tezos blockchain.
“Setchain allows millions of new transactions to be added, whereas (traditional Byzantine-based) blockchains can usually only add thousands”
– Antonio Fernández Anta, Research Professor at IMDEA Networks Institute.
Setchain is designed to be a sidechain and allows for more transactions in a block by using less strict rules for transaction order.
“The scalability issue is mostly caused by the use of consensus algorithms to guarantee the total order of the chain of blocks (and of the operations within each block).
However, total order is often overkilling, since important advanced applications of smart-contracts do not require a total order of all the operations.
Hence, if a more relaxed partial order (instead of a total order) is allowed under certain safety conditions, a much higher scalability can be achieved.”
About the iMdea institute
The iMdea research institute is one of the seven research centers that form the iMdea initiative.
The iMdea initiative “is a project founded by the Madrid Regional Government, included in the IV Regional Plan of Scientific Research and Technological Innovation 2005-2008 (PRICIT), for the purpose of setting up advanced research centers and higher education and training in the Community of Madrid.”
The iMdea Software Institute recruits the best international talent to be at the forefront of research, to ensure that software is safe, reliable and efficient.
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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The Tezos Foundation and Magic, the Wallet-as-a-Service provider, have announced a groundbreaking collaboration aimed at revolutionizing the accessibility and usability of Web3 technologies. This strategic partnership will utilize the pioneering decentralized Tezos blockchain and marks a significant milestone in the journey towards a more inclusive and user-friendly decentralized web experience.
The Tezos Foundation recently announced a notable addition to its Foundation Council, welcoming former French Minister Fleur Pellerin to its ranks. Pellerin, a prominent figure known for her extensive experience in government and the tech venture capital industry, has held several senior governmental roles, including Minister for Culture and Communication. Since 2016, she has led Korelya Capital, a venture capital fund investing in late-stage web3 infrastructure technology companies, such as Ledger, Bitfury, and Ramp.
In a significant stride toward enhancing the Tezos ecosystem, the Tezos Foundation has extended its support to Blockscout, a reputable open-source block explorer. This backing aims to fortify Etherlink, a prominent EVM-compatible Layer-2 blockchain built on Tezos, by providing a dedicated mainnet and testnet block explorer. Concurrently, RedStone Oracles has integrated into the Etherlink ecosystem, heralding a new era of DeFi expansion.
