Tezos is a blockchain platform designed to solve the most basic issue of the ecosystem – salability. It essentially deals with the issue by keeping it ready for upgrade and future-proofing its operations. Simply put, no matter what happens in the future and how vastly the ecosystem expands, the mechanism of Tezos will have sufficient capabilities to take care of its functions.
Tezos has now introduced Tezos X. It has been identified as a vision of the blockchain platform to handle its future operations. Tezos X has been defined by the platform as a blockchain with superpowers, adding that it is a cloud-like backend that can be used for a wide range of applications. At the core is the modu-lithic approach, which combines the best features of monolithic and modular blockchain. Safe to assume that it serves as a convergence point for both of them.
The approach helps Tezos preserve the properties of blockchain—something that is believed to be the most fundamental principle of the technology. It will act as an add-on to support utility and speed. According to its post on X, the introduction of Tezos X is a great stride towards achieving interoperability.
Core elements of Tezos X include scalability, composability, and interoperability.
Tezos X achieves scalability via Smart Rollups, faster blocks, and a data-availability layer. Work on Smart Rollups has concluded as of Q1-2023, while the meaning elements are being worked upon. There is no timeline; however, one can assume that Tezos is looking to roll them out by the end of this year.
Composability deals with the interaction of applications to make them a sum bigger than their parts. Tezos X is working on composability by crafting a mutual foundation of a rollup that rules them all. For instance, a smart contract written in any language will be able to interact seamlessly with another smart contract.
Proposed developments under composability include canonical rollup, new runtime, and further vertical scaling.
Interoperability is believed to be the last piece of the puzzle. Tezos X’s interoperability will enable the builders to use their preferred tools with other blockchain systems. It will also allow them to use their tools with other non-blockchain systems. Tezos X will likely set up a list of support platforms – or go on to keep its list open and enter into partnerships as demand picks up.
Tezos aims to bring Tezos X into the market to mark a massive shift from its original design to a new one where L1 is faster and scalable with lower latency, and bakers can still secure the network with low-specification hardware. The latter would also help to strengthen the aspect of decentralization.
Moving forward, Tezos aims to onboard millions of users and new developers to expand its ecosystem. The onboarding has not been defined according to any region. Hence, it goes on to indicate that Tezos will look to expand its presence all over the world. Thereby breaking regional barriers and connecting the community in the best possible manner.
An announcement about Tezos X has worked for its native token – XTZ. It has been up by 0.24% in the last 24 hours, listed at $0.7657, down by 3% and 20.96% in the last 7 days and 30 days. There is a notable uptick in market cap and 24-hour trading volume, with the former keeping it on the list of top 100 global cryptocurrencies.
Prevailing sentiments are bearish, but they could change to bullish. The XTZ price prediction projects a surge of 10.72% in the next 30 days. That will take the token value to $0.858793. However, it can dip in the next 5 days to hover around $0.77473. Needless to say, these are only predictions, and the actual values of the native token of Tezos may be different. Don’t take this as a guaranteed outcome and investment advice.
Tezos is experiencing a volatility of 8.78% and a 14-day RSI of 37.43. Expect fluctuations on the price chart as Tezos attempts to make its proposed vision of Tezos X a reality.
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