Altcoin Tezos (XTZ) has introduced its fourteenth upgrade called “Nairobi” which brings significant improvements to the network.
Altcoin Tezos (XTZ) Introduces New Update “Nairobi”
One of the key enhancements is that it provides a significant increase in transaction speeds, making Tezos eight times faster than its predecessor.
Prior to the “Nairobi” upgrade, Tezos had already demonstrated its impressive transaction processing capabilities of up to 1 million transactions per second (tps) following the previous upgrade known as “Mumbai” back in March.
With the “Nairobi” implementation, the blockchain network achieves even higher speed and efficiency.
The developers behind Tezos have introduced a new fee mechanism with the “Nairobi” upgrade. Instead of a uniform flat fee, users will now be charged based on their network usage.
This dynamic fee structure brings the cost closer to the real resources used and enables a fairer and more flexible payment system.
Also, the “Nairobi” upgrade brings advancements to Tezos' Smart Collectors, scaling solutions designed to further improve network utilization.
These Smart Rollups will now be capable of continuous and automatic upgrades alongside future improvements built into the Tezos blockchain. This allows scaling tools to evolve and adapt as the platform evolves.
Despite the exciting upgrades, current usage of the Tezos network remains relatively low.
In the past 24 hours, the network has processed only 68,000 transactions, which is quite low compared to more widely adopted blockchains operating in the same time frame.
At the time of this writing, XTZ price was trading at $0.79, down 2.68 percent.
*Not investment advice.
