PANews reported on June 27 that the development team behind the Tezos blockchain launched "Tezos X", a series of technical upgrades that they said could bring "huge improvements in performance, composability, and interoperability." The two-year development plan roadmap calls for splitting transaction execution into a separate "canonical rollup" that will support "atomic transactions between smart contracts written in different programming languages." The main Tezos blockchain will serve as the base layer for consensus and settlement.
In addition, the Tezos main network will also introduce a dedicated data availability layer to improve overall performance and efficiency. This new roadmap is similar to Ethereum's expansion strategy over the past few years, which is to move transaction execution to a secondary Layer2 network. However, Tezos is unique in that it plans to process all transactions through a single rollup, rather than relying on multiple Layer2 networks like Ethereum. According to the article, "In theory, one rollup can meet all needs except for the most extreme use cases." The vision of Tezos X is to create a single canonical rollup that can handle (and massively scale) all activities on the Tezos network. This innovation will help increase Tezos' throughput and efficiency while maintaining its decentralized nature. According to the plan, this canonical rollup is expected to be launched in 2026.
Tezos has been a fixture in the blockchain space since it was founded by Arthur and Kathleen Breitman. In 2017, Tezos raised $232 million through its initial coin offering and was once seen as a strong candidate to compete with Ethereum. However, despite its ambitions, Tezos has not performed well in the market. Currently, its token market value is approximately $749 million, ranking Tezos roughly 80th according to CoinDesk data. The price of the native XTZ token has also fallen sharply, down 92% from its all-time high.
