CJ - Cryptocurrency Enthusiast
Developers of the Tezos ecosystem have announced plans for upgrade proposals based on transaction and smart contract optimistic rollups, opening the way for WebAssembly and EVM compatibility.
After being voted in by the Tezos community, the ninth update to the system, nicknamed "Ithaca 2," has been enabled. Tezos is one of the first and longest-running Proof-of-Stake blockchains. Ithaca 2 replaces the existing consensus algorithm (Emmy*) with Tenderbake, a game-changing improvement that ushers in a new era of Tezos protocol innovation. Lower block times are possible because to the new Tenderbake consensus method. Tezos transactions will be speedier, and applications will execute more smoothly as a result of this.
The Ithaca 2 update is a first for blockchains and open-source decentralized software, and it highlights the efficiency of the Tezos governance system, which was designed to allow for significant architectural modifications. Ithaca 2 prepares the Tezos protocol for ambitious scaling ambitions like as WebAssembly and EVM compatibility with pre-checking, a lightweight validation approach for the mempool that will boost overall throughput, in addition to Tenderbake. Finally, the Ithaca 2 upgrade will lower the cost of becoming a network validator ("baker") by 25%, from 8,000 to 6,000 tez, enhancing Tezos' decentralized character.
Tezos' sophisticated governance system, which is designed to adapt, includes cutting-edge advancements using its well-proven self-amendment process, from the blockchain sector. In the Edo update, for example, shielded transactions from the Zcash Sapling protocol were included, and in the newest Ithaca 2 upgrade, the consensus method Tenderbake, based on Tendermint from the Cosmos protocol, was added. In March 2022, Tezos ecosystem developers announced plans for optimistic rollups based on Arbitrum, a popular Ethereum rollup technology, and zk-rollups based on top industry research. Tezos continues to deliver best-in-class core technology as well as leading features in privacy, scalability, and security with these monthly improvements.
Tezos' user activity has exploded in the last year, with monthly smart contract calls jumping from 100,000 in January 2021 to over 6.2 million in January 2022. With notable technological integrations by prominent sports franchises and worldwide companies like as Red Bull Racing, Manchester United, The Gap, Kia, and others, Tezos' acceptance and momentum continue to expand. Industry leaders are demonstrating their faith in Tezos as the energy-efficient, low-cost blockchain of choice for the Web3 revolution by building on it.
Thousands of builders and producers contribute to the Tezos ecosystem, which includes initiatives in arts and entertainment, financial services, and more. Users, developers, brands, venture capital companies, strategic collaborators, and others have invested resources to create and expand Tezos in new ways during the past year, resulting in a surge in adoption.
If you are looking to buy Tezos (XTZ) and start investing in cryptocurrency, BC Bitcoin is the place to go to. As a top crypto broker we offer cheap cryptocurrency exchange, crypto asset management and other services with live customer support.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards