Oxford 2 Protocol Upgrade is Live
Key changes include the introduction of Private Smart Rollups, refinements to Tezos' Proof-of-Stake, and re-enabled Timelocks.
Originally published at Nomadic Labs Blog
300 words, 2 minute read
On February 9 2024 13:23:45 UTC, the Tezos blockchain successfully activated the Oxford 2 protocol upgrade at block #5,070,849.
This 15th upgrade was jointly developed by Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda & Functori.
Oxford 2 contains the following changes:
- Refinement of Tezos PoS: the Oxford 2 proposal introduces changes to slashing and an automated staking mechanism for bakers. The latter aims to smoothen the transition towards a new staked funds management API and avoids manual bookkeeping to counter over-delegation.
- Private rollups: Oxford 2 introduces private Smart Rollups, allowing developers to choose between permissionless or permissioned deployments. Additionally, Oxford 2 simplifies the deployment of rollups both on protocol and periodic test networks, as well as on ad-hoc dedicated ones.
- Timelocks are re-enabled: a new design and implementation of Timelocks addresses security concerns that led to their temporary deactivation in a previous protocol upgrade.
For more details, see the Oxford 2 announcement post.
A deeper technical description can be found in the protocol proposal’s technical documentation, and a complete list of changes is provided in Oxford 2’s changelog.
Big things coming #
The activation of Oxford 2 is just the beginning of a big 2024 for Tezos. We are excited to be part of the ongoing work to evolve Tezos – and the blockchain space.
Data-Availability Layer (DAL) on testnet. The DAL is currently live on Tezos’ Weeklynet, and we encourage bakers and rollup operators to help us test this cornerstone of Tezos’ future. To understand what it does, and what it means for Tezos, see our introduction to the DAL.
Get ready for the launch of Etherlink. Etherlink will be an EVM-compatible optimistic rollup with high throughput, a decentralized sequencer, low gas fees, and MEV protection, powered by Tezos Smart Rollups. Check out etherlink.com to learn more and get involved.
Meanwhile, we are busy working on an upcoming protocol upgrade proposal, “P”. Stay tuned!