• Private Smart Rollups expand possibilities for Tezos Layer 2 developers
• Upgraded version of Timelocks means more secure applications

Tezos, a leading blockchain platform renowned for its self-amending capabilities and community-driven governance, has successfully activated Oxford 2, its fifteenth core protocol upgrade. The Oxford 2 upgrade includes enhancements to Smart Rollups and chain security and ensures Tezos remains at the forefront of blockchain innovation.

The Oxford 2 upgrade introduces private Smart Rollups to Tezos, meaning developers of Layer 2 solutions can now select an additional privacy level when deploying rollups on-chain. Smart Rollups were launched in 2023 as a Layer 2 scaling solution for Tezos. Oxford 2 also includes adjustments to the Proof-of-Stake mechanism, improving staking UX and refining slashing penalties, and re-enables the use of Timelocks in Tezos smart contracts.

Tezos has consistently been at the forefront of blockchain innovation, and the Oxford 2 upgrade builds upon the platform’s strengths, paving the way for a more versatile and efficient blockchain network as community developer teams ready for this year’s launch of Etherlink, an EVM-compatible Layer 2 built on Tezos and powered by Smart Rollups.

Key Features of the Oxford 2 Upgrade include:

Private Smart Rollups aid developer flexibility on Layer 2

The idea for private Smart Rollups came from work done with financial institutions seeking specific privacy requirements. Such firms often have stringent compliance requirements when client data is shared. So developers proposed a small change to the protocol allowing Smart Rollup developers to optionally define a whitelist of allowed operators with visibility on the data.

Private Smart Rollups use cases could include a consortium of banks working on auditable settlements, or a group of developers deploying a beta rollup. In both instances, a whitelist shields data on Layer 2 to chosen operators.

Smoother staking UX for Tezos bakers

The Oxford 2 upgrade introduces an auto-staking mechanism for bakers, which provides a smoother management of staked funds. 

Timelocks re-enabled 

Timelocks‘ new design and implementation address security concerns that led to their temporary deactivation in a previous protocol upgrade. Timelocks can be used in Tezos smart contracts to reduce the risk of Maximal Extractable Value (MEV) or other forms of so-called front-running attacks – for example, they can be valuable when building decentralised exchanges on Tezos.

Slashing penalties for double-signing blocks are now proportional to validators’ stakes

Developers, businesses, and enthusiasts are invited to explore the possibilities unlocked by the Oxford 2 upgrade. With its commitment to fostering an open and collaborative environment, Tezos continues to set the standard for decentralised innovation.

In accordance with Tezos blockchain governance rules, the Oxford 2 upgrade was validated and approved by the community. Experts from Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda & Functori contributed to this upgrade.

For more information about Tezos and the Oxford 2 upgrade, please visit www.tezos.com

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