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Tezos To Reach 1000 Transactions Per Second With Upcoming Octez v13 Release
The Tezos blockchain is set to reach a new performance milestone with the upcoming Octez v13 release, which will enable it to perform 1000 Transactions Per Second (TPS).
This work has been done by the Tarides team who have a solid tech background including team members coming from University of Cambridge, Inria, and IIT Madras.
By: Lee Evans
24 April 2022
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Tezos To Reach 1000 TPS With Upcoming Octez v13 Release
The Tezos blockchain is set to reach a new performance milestone with the upcoming Octez v13 release, which will enable it to perform 1000 Transactions Per Second (TPS).
The Tarides team has 60+ people performing groundbreaking innovation, feature development and crucial maintenance of OCaml-based projects.
In January 2022, it was announced that OCaml Labs, an organization founded at the University of Cambridge by Prof. Anil Madhavapeddy in 2012 would be joining forces with Tarides ‘to bring OCaml – one of the most advanced programming languages in the world – into mainstream use’.
Some of the organizations they do work for include Jane Street, The Tezos Foundation and Hyper.
Jane Street, a well-known quantitative global trading firm adopted OCaml as its main programming language early on because ‘the language’s functional programming style and clear expressiveness made it possible for code reviews to be performed by traders who were not programmers, to verify that high-performance code would do what it was intended to do.’
In an announcement that was posted to the Tezos Agora discussion platform on April 21st, Thomas Gazagnaire (CTO of Tarides) said:
“Our work on improving the Irmin performance resulted in Tezos reaching 1000 TPS! With the release of Irmin 3 and Octez v13, transactions have become 5x faster than they were with Octez v12 (6x compared to Octez v10).
Additionally, we’ve further stabilised the storage layer and reduced the memory required by 80%. This is a great improvement for all the Tezos users (and especially bakers), as it will make the network more stable and the baking rewards much more predictable.”
Image shows: Comparison of the Transactions Per Second (TPS) performance between Octez 10, 11, 12, and 13 while replaying the 150k first blocks of the Hangzhou Protocol on Tezos Mainnet. Octez 13 reaches 1043 TPS on average which is a 6x improvement over Octez 10.
Irmin: a distributed database following the same principles as Git. It is described as an ‘OCaml library for building mergeable, branchable distributed data stores’.
One of the the great features of Irmin is that it is storage agnostic and it therefore can be used on top of your own storage layers.
Octez is the Tezos node implementation that uses Irmin to store the blockchain state, so Irmin is a core component of Octez that’s responsible for virtually all the filesystem operations.
At its core the Irmin system stores the Tezos blockchain ledger in the Octez node implementation. The Octez V13 version will enable Tezos to support over 1000 transactions per second (TPS) in the storage layer.
The upcoming Jakarta upgrade will be using the Merkle Proofs feature of Irmin in the transaction rollup project.
“This is a 6x improvement over Octez 10. Even better, this release also makes the storage layer orders of magnitude more stable with a 12x improvement in the mean latency of operations. At the same time, we reduced the memory usage by 80%. Now Octez requires a mere 400 MB of RAM to bootstrap nodes! “
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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