Tezos has just rolled out the Nairobi upgrade. The goal: to speed up transactions and offer fairer pricing. Despite these improvements, the blockchain is struggling to attract more users.
Transactions up to 8 times faster
A few days before the launch of its annual event, Tezos is launching the 14e major update of its network. This is the Nairobi upgrade which brings several significant improvements including faster transactions. Prior to this upgrade, Tezos could process up to 1 million transactions per second (tps).
THE developers introduced a new fee mechanism with the Nairobi upgrade. Unlike previous versions of the blockchain (which applied a single flat rate), this new mechanism allows users to be charged based on network usage. This allows greater flexibility as well asfairer pricing.
The Nairobi upgrade also facilitates continuous and automatic upgrade of Smart Rollups from Tezos. These are scaling tools that allow even faster use of the network. Thanks to Nairobi, they can be upgraded along with new updates rolled out to the network in the future.
Low current usage of the Tezos network despite improvements
Despite the improvements brought by the Nairobi upgrade, usage of the Tezos network still remains relatively low. In the past 24 hours, he only processed 68,000 transactions.
In comparison (during the same period):
- Ethereum processed 1 million transactions,
- BNB Chain 3.9 million transactions,
- Bitcoin 400,000 transactions.
At the time of writing, the value of Tezos’ XTZ token has fallen by 2%. It is trading at 80 cents.
The Tezos Nairobi upgrade offers significant improvements in transaction speed and scalability. Despite these improvements, Tezos must Try the challenge to attract more users. Without it, it will not be able to compete with other popular blockchains.
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