Tezos To Reach 1000 Transactions Per Second With Upcoming Octez v13 Release

The Tezos blockchain is set to reach a new performance milestone with the upcoming Octez v13 release, which will enable it to perform 1000 Transactions Per Second (TPS).

This work has been done by the Tarides team who have a solid tech background including team members coming from University of Cambridge, Inria, and IIT Madras.

The Tarides team has 60+ people performing groundbreaking innovation, feature development and crucial maintenance of OCaml-based projects.

In January 2022, it was announced that OCaml Labs, an organization founded at the University of Cambridge by Prof. Anil Madhavapeddy in 2012 would be joining forces with Tarides ‘to bring OCaml – one of the most advanced programming languages in the world – into mainstream use’.

Some of the organizations they do work for include Jane Street, The Tezos Foundation and Hyper.

Jane Street, a well-known quantitative global trading firm adopted OCaml as its main programming language early on because ‘the language’s functional programming style and clear expressiveness made it possible for code reviews to be performed by traders who were not programmers, to verify that high-performance code would do what it was intended to do.’

In an announcement that was posted to the Tezos Agora discussion platform on April 21st, Thomas Gazagnaire (CTO of Tarides) said:

“Our work on improving the Irmin performance resulted in Tezos reaching 1000 TPS! With the release of Irmin 3 and Octez v13, transactions have become 5x faster than they were with Octez v12 (6x compared to Octez v10).

Additionally, we’ve further stabilised the storage layer and reduced the memory required by 80%. This is a great improvement for all the Tezos users (and especially bakers), as it will make the network more stable and the baking rewards much more predictable.”

You can read the full article below :

https://xtz.news/adoption/tezos-to-reach-1000-transactions-per-second-with-upcoming-octez-v13-release/