Tezos X: Innovations in the Tezos Blockchain

Tezos X: Bringing Innovations to the Tezos Blockchain

Developer teams behind the Tezos blockchain have introduced “Tezos X,” a series of technological enhancements aimed at significantly improving performance, composability, and interoperability within the network.

The roadmap for the next two years outlines a development plan that involves segregating transaction execution into a distinct “canonical rollup.” This rollup is designed to facilitate atomic transactions across smart contracts written in various programming languages, while the main Tezos blockchain serves as the foundation for consensus and settlement.

The collaborative effort behind this initiative involves developer teams from Nomadic Labs, TriliTech, and Functori.

Tezos, founded by Arthur and Kathleen Breitman, made headlines by raising $232 million in an initial coin offering back in 2017. Despite initial optimism as a potential Ethereum competitor, Tezos has faced challenges maintaining its position, with a token market capitalization of $749 million, placing it around the 80th spot based on CoinDesk data. The native XTZ token currently stands at 92% below its all-time high.

Scaling Efforts and Smart Rollups

In 2022, the focus shifted towards enhancing the scalability of the Tezos network, as indicated in a blog post.

A pivotal aspect of this strategy is the implementation of Smart Rollups, a scaling solution where a dedicated second layer executes transactions efficiently, while the primary blockchain ensures consensus and settlement.

Another significant feature introduced is a specialized data-availability layer integrated within the Tezos main network.

The new roadmap for Tezos shares similarities with Ethereum’s scaling endeavors over recent years, particularly in offloading transaction execution to auxiliary layer-2 networks. Various “modular” components have emerged to handle additional functions traditionally managed by the main Ethereum chain, such as data storage optimization.

Tezos has transitioned from a monolithic to a modular design to support scalability and decentralization. Interconnected node groups now fulfill distinct roles while maintaining a seamless experience for developers and users.

Unique Aspects of Tezos X

What sets the Tezos X plan apart is its focus on utilizing a single rollup for transaction execution, contrasting with Ethereum’s approach of employing multiple layer-2 networks.

The vision for Tezos X is to establish a single canonical rollup capable of accommodating and significantly expanding all activities on the Tezos network. This unified approach is projected to streamline operations and enhance network efficiency.

According to the roadmap, the canonical rollup is anticipated to be fully operational by 2026, marking a significant milestone in the evolution of the Tezos blockchain.