Tezos (XTZ) has announced that its Mumbai upgrade is now live, bringing many improvements to the blockchain network, including higher scalability, support for general-purpose programming languages, and more.
Tezos (XTZ), a proof-of-stake (PoS)-based energy efficient blockchain network, has successfully completed its Mumbai upgrade, unlocking several essential features for users and developers.
Per a press release by the team, the latest upgrade ushers a new layer-2 scaling solution dubbed Smart Rollups, which now makes it possible for the Tezos distributed ledger technology (DLT) network to handle more than one million transactions per second (TPS), without sacrificing decentralization.
In comparison, the ethereum network handles just 23.12 transactions per second, while the proof-of-work (PoW) powered bitcoin (BTC) network has a TPS of about 5.
With the Mumbai upgrade, Tezos has also added support for the leading general-purpose programming languages like Rust, C, and C++, increasing the network’s use cases and giving developers more flexibility.
The Mumbai upgrade also ushers in a reduced block time of just 15 seconds (previously 30 seconds), and lower network latency through a feature known as Pipelined-validation. Block time is the average time a blockchain network needs to mine a new block.
At the time of writing, Tezos’ native XTZ token is hovering around $1.12, with a 24-hour trading volume of $34,046,770. The XTZ price is down by more than 87% from its all-time high (ATH) of $9.12 reached in Oct. 2021, according to CoinGecko.
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