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HOT DEVELOPMENT: Expected Update Happened! Altcoin Price Rising!

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Popular Layer 1 blockchain Tezos has announced that the highly anticipated update, called Kathmandu, has been successfully applied to the network and new scaling features are available.

11th Update of Tezos Network
According to the Tezos team, the Kathmandu update has recently been rolled out on block 2.736.129 of the Proof of Stake network. The update is the 11th update implemented on the Tezos network since its inception in 2018 and offers potential improvements to the scalability of the Tezos Blockchain.

According to the official information provided for the Kathmandu update, the update brings support for off-chain computing to the Tezos network through Layer 2 scaling solutions such as optimistic roll-ups and streamlines the block verification process for better throughput on the network. Additionally, developers contributing to the update noted that a persistent testnet (testnet) is now available for testing new features of Kathmandu, and that the update improves randomness in how delegates are selected for enhanced security of the mainnet (mainnet), among other protocol improvements.

Kathmandu was recommended by developers and developer companies Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori & Tweag, who contributed to Tezos in July. Then, the Tezos community was given the green light to update it with its governance process.

XTZ Soars
The Tezos network’s local presence, XTZ, turned its head after the news that the update was successful. XTZ is trading at $1.53, up 3.69 percent in the last 24 hours, according to data provided by crypto data platform CoinMarketCap. XTZ is the 41st largest cryptocurrency with a market cap of $1.38 billion.
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