The Tezos Blockchain Activates Oxford 2 Upgrade
The Tezos blockchain has achieved a significant milestone with the activation of the Oxford 2 upgrade, which is the fifteenth improvement of its core protocol. This update demonstrates Tezos’ commitment to continuous improvement and innovation, bringing several crucial advancements to the platform.
Enhancing Privacy with Private Smart Rollups
The central feature of the Oxford 2 upgrade is the introduction of private Smart Rollups in the Tezos ecosystem. This enhancement offers developers an additional level of privacy by allowing them to define a whitelist of approved operators with access to the data. This enables developers to create custom solutions for specific privacy requirements while benefiting from the scalability advantages of Layer 2 architecture.
Simplified Staking Process
The update also simplifies the staking experience for validators, known as bakers in the Tezos community. It introduces an automatic staking mechanism, enabling validators to focus more on network security and participation. This improvement promotes greater efficiency and participation within the network, strengthening its stability.
Enhanced Security Measures
The Oxford 2 upgrade reactivates Timelocks within Tezos smart contracts, addressing previous security issues and mitigating risks associated with attacks. This enhances trust among users and stakeholders by enabling developers to implement more resilient and secure smart contracts on the Tezos blockchain. Additionally, proportional penalties are introduced for validators engaging in double block signing, further strengthening network integrity.
About Tezos and the Tezos Foundation
Tezos is an open-source blockchain platform designed for scalable and cost-effective distribution of assets and applications. As a Proof of Stake blockchain, it boasts a global peer-to-peer network and is known for its upgradability, open participation, and smart contract security. The Tezos Foundation, a Swiss non-profit organization, supports the development and success of the Tezos protocol by fostering community-driven initiatives and progress.
Conclusion
The activation of the Oxford 2 upgrade marks a significant milestone for the Tezos blockchain, solidifying its position as a leader in blockchain innovation. With advancements in privacy, staking, and security measures, Tezos continues to evolve to meet the needs of the decentralized landscape. The collaborative efforts of the community and expert teams highlight Tezos’ commitment to continuous improvement and open participation. As Tezos prepares for the launch of Etherlink, it remains at the forefront of blockchain technology, empowering builders, developers, and businesses worldwide.
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