The Baking Sheet - Issue #106

July 01, 2022

Happy 4 Year Anniversary Tezos!

Welcome to this week’s issue of The Baking Sheet!

Protocol Jakarta has been activated to the Tezos network! As we celebrate 4 years since network launch, let's summarize some of the amazing growth Tezos had in the past four years:

10 protocol Upgrades

2.1 million funded wallets

67 million+ contract calls

109 million+ transactions

The most incredible milestone is the protocol seamlessly upgrading 10 times, looking beyond, the 11th upgrade proposal is underway with the Kathmandu era on the horizon.

This week’s issue will highlight the upcoming Kathmandu upgrade and what we can expect to see.

Hello, Kathmandu

The Jakarta era is now behind us.

That said, recently we learned more about the next protocol upgrade - Kathmandu. Protocol Kathmandu will introduce Smart Contract Optimistic Rollups (SCORUs). In Nomadic Labs’ blog post, they describe what this feature will provide to the Tezos network.

SCORUs provide a generic infrastructure to implement any computational device, as long as its semantics can be described as a Proof-producing Virtual Machine (PVM), in the Tezos protocol.

This design allows us to continuously develop and deploy new supported PVMs, and thereby new execution environments, via protocol amendments. In our upcoming protocol proposal, we plan to introduce a first PVM supporting WebAssembly (WASM) — although only available via bleeding-edge test networks.

In terms of scalability, this is a pretty big deal. We’re seeing essentially two back to back protocol upgrades geared towards reducing block times (the time it takes for a block on the Tezos network to finalize).

Let us not forget Protocol Ithaca also brought the introduction of a completely new consensus algorithm - Tenderbake.

I digress, Kathmandu will offer more to the Tezos network than just SCORUs according to Nomadic Labs’ publication.

The validation Pipelining project aims to streamline the block validation process, in order to reduce the number of times they need to be applied (that is, executed) across the Tezos Layer 1 network. It also aims to propagate blocks before fully applying them, but after having fastly validated a set of preconditions on the block and its operation payload which guarantees their correctness. These goals combine to pursue increasing throughput for Tezos’ Layer 1, without compromising the network’s safety.

Nomadic Labs also mentioned the introduction of support for permanent test networks.

The Kathmandu protocol proposal will also include a new testnet-specific governance mechanism necessary to support a permanent test network, Ghostnet.

For any chain other than Tezos Mainnet, this mechanism lets the chain originator designate a special account, that can upgrade the protocol unilaterally with a new protocol proposal. Instead of going through the normal governance election cycles, the chain will upgrade straight away to the new protocol. This will allow for the creation of a long-running testnet, Ghostnet, where protocol upgrades will be centrally managed by Oxhead Alpha and which will closely follow Tezos mainnet upgrades.

As Tezos continues to evolve and grow, so is the growing theme towards massive scalability. As we move towards a new era with Protocol Kathmandu, there’s lots to look forward to within the ecosystem.

Tez/Dev - Registration is now OPEN

Tez/Dev programming is here!

The schedule of events and speakers is now available featuring speakers like Tezos Co-Founder & Early Architect, Arthur Breitman whom will deliver a keynote on why blockchain developers should be building the future of Web3 on Tezos.

Additionally, Workshops will highlight building NFT marketplaces, Dapp development, scaling Tezos with rollups, smart contracts, Tezos tools, and more!

You can also showcase your Tezos project at one of the stations at the Tez/Dev Paris 2022 networking space

Also our friends at Travala.com is extending a special offer for TezDev attendees. Get 5% off your hotels there with the code: PARISINJULY

This Week in the Tezos Ecosystem

Jakarta has been seamlessly implemented without any hardforks or disruption to the network. In case you’re unaware of all the features within the upgrade, protocol Jakarta will introduce the following feature sets to the Tezos network

  • Transaction Optimistic Rollups (TORUs)

  • Liquidity Baking Changes

  • Tickets Improvements/Hardening

  • Elimination of “Rolls”

Tezos once again demonstrates its absolute strength in on-chain governance and upgradability.

European specialist in eolian and solar energy, hydroelectric, battery storage technology becomes corporate baker on the Tezos blockchain. Read the full press release [FR]

Since the beginning of the Covid pandemic (Dec. 2019), a majority of any sort of social gathering or meet-up were all postponed indefinitely. It's now time to restart IRL events with the broad Tezos community.

Société Générale now offers a range of capital market products to institutional clients under a native security token format utilizing Tezos, while leveraging METACO's digital asset custody and orchestration platform 'Harmonize'.

It all began with a tweet announcing the creation of a new marketplace on the Tezos blockchain

XTZ has officially been listed on the Bitkub Exchange on June 23rd, 2022 at 13:00.

This Week in Tezos Development

On June 28, Tezos will migrate to the Jakarta protocol update with the built-in L2 solution Transaction Optimistic Rollups. For now, L2 only supports tez transactions, but that will change with the introduction of the Kathmandu update.

Tezos Explorer and API with high data detalization, user-friendly interface and free open-source blockchain indexer.

improved UX, reworked token interface view.

As a prerequisite for a permanent testnet on Tezos, we need a mechanism to centrally upgrade its protocol to closely follow mainnet.

Now Streaming: Art Basel Conversations

The expert panel at Art Basel dives into critical questions of curating art for Web3.

Speakers:

Sabine Himmelsbach | Director, HEK Basel

Linda Dounia | Founder, Cyber Baat

Robert Kruschbersky | Strategist. Advisor. Investor - NFT & Web3.0

Moderator: Micol Ap | Founder & CEO, Vertical Crypto Art