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The article presents information on transaction-level models (TLM). TLM verification methodologies are propagating down from power users, such as large systems houses and integrated device manufacturers, to the broader design community. Standards organizations such as the Open Core Protocol International Partnership (OCP-IP) are helping to make TLM methodologies easier to use and ever more powerful. OCP-IP has released Version 2.1.1 of its TLM Channel specification, as well as a comprehensive methodology white paper that describes the use of TLMs for architectural modeling. Version 2.1.1 improves model interoperability by unifying the way time is modeled in transaction level 1(TLI). Some TLI application-programming-interface functions also have been redesigned to ensure interoperability, and new timing interfaces have been added to the TLI channel for automating the setting of module timing parameters. The new methodology package also aligns the Open SystemC Initiative's TLM methodology with OCP-IP's.