The Baking Sheet - Issue #98

May 06, 2022

We're optimistic for roll-ups

Welcome to this week's issue of The Baking Sheet! Since the start of this newsletter, Tezos has undergone 9 protocol evolutions with the 10th upgrade underway. Issue #100 is close and we have something special planned for our subscribers -- stay tuned!

Enter Jakarta

The Jakarta era is upon us.

As we move further along with the Jakarta2 protocol upgrade, one can draw not so distant parallels of how it can shape the Tezos network (for the better).

Since Indonesia’s independence, Jakarta has undergone tremendous growth and development. In present day, there is a dramatic economic, political, and social transition unfolding before our eyes.

One could opine the same sentiment towards the Tezos ecosystem at large. As network activity has grown tremendously over the past few years, we’re slowly witnessing Tezos become a global hub for artists, creators, brands and the likes to occupy.

That said, Jakarta is one of the most important upgrades yet to take place on the Tezos network. It’s also a large part of this year’s developmental roadmap which is heavily centered around scaling and Layer-2.

Ithaca 2 brought us the highly anticipated Tenderbake feature as well as updates to liquidity baking and the elimination of “rolls”.

With the activation of Ithaca2, the Tenderbake feature introduces a whole new consensus algorithm and brings deterministic finality to the Tezos network. There are no blockchains in existence that can claim they have replaced a consensus algorithm in a seamless and democratic way like the Tezos network has done.

Jakarta takes it a step further by emphasizing L-2 scaling.

In no particular order, the following feature sets are being introduced with Jakarta 2.

  • Transaction Optimistic Rollups (TORUs)

  • Sapling improvements

  • Liquidity Baking toggle vote

  • Michelson interpreter improvements

  • Tickets hardening

  • Other

For more information on the Jakarta 2 upgrade, click here.

Why TORUs are a big deal

In terms of scaling, there is no doubt TORUs are the talk of the town. This will allow for the exchange of assets, but will not be used in the execution of smart contracts.

Nomadic Labs detailed some desirable properties for optimistic rollups in their blog post.

  • Trust minimized: You don’t have to trust that a majority of the rollup nodes are honest to always be able to withdraw your funds from the rollup. One honest node is enough.

  • Permissionless: Anyone can submit operations to a rollup since all the rollup block data is posted on the main chain.

  • Capital efficient: Unlike with state channels (e.g., Lightning Network), rollup users are not required to lock up a bond upfront. Only rollup node providers are.

While these are an experimental feature, they will be implemented not as smart contracts, but rather natively within the economic protocol. This year is shaping up to be a big one in terms of scaling, development, and continued adoption of the Tezos network.

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Events: Tezos Vancouver

Come join us at one of our Tezos Vancouver Fireside chats. It’s no secret that cutting-edge Blockchain technology has been and will continue to rapidly drive positive change within our society across the globe.

When we say this is a chat, we mean it! Come out a join us for drinks and get the conversation started! Let’s learn from each other and help build a great Tezos Community.

Snacks and refreshments will be provided!

Date: May 26th