• Nomadic Labs has submitted a proposal for the 13th upgrade of the Tezos network, which includes features such as the ability to transfer tickets between accounts and a shorter block time of 15 seconds.
• The upgrade, known as the Mumbai protocol upgrade, will be implemented after several tests.
• Tezos‘ volume has seen lower counts, but dev activity has increased, reaching its highest level in the previous six months.
Nomadic Labs is making sure that the Tezos network keeps up with the times with their recent 13th upgrade proposal. The upgrade, known as the Mumbai Protocol, is set to come with several new features. Firstly, users will now be able to transfer tickets between accounts, and the block time for transactions will be shortened to 15 seconds, allowing for faster transactions. Additionally, the Mainnet will be strengthened with the addition of the Epoxy feature, allowing for instant finality through SNARKs‘ proof-of-validity. Two new RPC endpoints will be added as well, to better monitor ticket ownerships.
The upgrade should bring Tezos‘ transaction speed closer to their target of one million transactions per second, which may increase the value of its native token, XTZ. Unfortunately, the volume measure for Tezos has been rather low in the past six months, failing to reach the 100 million mark. However, the network’s developer activity has seen a significant increase, reaching its highest level in the previous six months.
At the time of writing, XTZ was on a bull run, with its price increasing by 45% from the beginning of the year. With the upcoming 13th upgrade, the value of XTZ may increase even more. For those looking to invest in XTZ, now may be the ideal time to do so.