Tezos network transaction speed increased by 8 times after the update

Jun 28, 2023
Tezos blockchain network has introduced the fourteenth update of Nairobi, which increases the speed of transactions on the network up to 8 times.
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After the Mumbai update in March, the blockchain processed up to 1 million transactions per second. The company’s developers said that Nairobi has introduced a completely new mechanism that allows charging users in different ways, depending on the use of the network. Recall that in early versions of Tezos, a single fixed fee was used.

Also, the Nairobi update added a scaling tool Tests Smart Roll up, thanks to which the use of the network has become more convenient and faster. Now it is possible to automatically perform updates as they are deployed. However, Tezos is not in high demand. In the last 24 hours, the network has processed only 68,000 transactions.

The cost of the XTZ network token at the time of writing this article fell by 2% and dropped to 80 cents.