TL;DR
- The Paris upgrade reduces block times from 15 to 10 seconds, improving usability for decentralized applications without compromising security.
- The new Data Availability Layer (DAL) enables Tezos’ Smart Rollups to achieve millions of transactions per second, increasing scalability and reducing hardware requirements.
- With Adaptive Issuance, staking rewards will adjust according to the proportion of the total supply involved in staking, introducing a new management mechanism for “bakers.”
Tezos blockchain has made significant strides in developing its scalability and efficiency with the activation of the Paris upgrade, its 16th improvement, on June 4, 2024. The upgrade, jointly developed by Nomadic Labs, Marigold, TriliTech, and Functori, aims to transform the network by reducing block times and enhancing user experience.
One of the main innovations introduced by the Paris upgrade is the reduction of block finality time from 15 to 10 seconds. This change allows transactions to be confirmed more quickly and efficiently, greatly improving the usability for decentralized applications (DApps) built on Tezos. Moreover, this improvement does not compromise the network’s decentralization or security, showcasing the robustness of its infrastructure.
Activation complete! 👉 Introducing the 16th Tezos upgrade: Paris!
— Tezos (@tezos) June 4, 2024
Read the thread to find out about the Data Availability Layer for higher L2 throughput, 10s block times for better latency, and more.
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Another crucial component is the introduction of the Data Availability Layer (DAL). This layer is designed to drastically increase the processing capacity and scalability of Smart Rollups, a technology that allows for the execution of millions of transactions per second (TPS). The DAL also reduces hardware and bandwidth requirements, facilitating broader and more decentralized participation in the network.
The impact of the DAL has already been demonstrated in public tests, where a throughput of one million TPS was achieved by utilizing horizontal scaling capabilities. This is a fundamental enhancement for the future of Tezos, as it sets the stage for a faster and more efficient network that can handle high transaction demands without sacrificing performance.
Tezos Builds the Fastest and Most Efficient Solution
Paris also introduces significant changes to Tezos’ Proof-of-Stake (PoS) system. With the new Adaptive Issuance, staking rewards are no longer issued at a fixed rate but adjust according to the proportion of the total tez supply involved in staking. This mechanism will take effect 14 days after protocol activation, around June 29. This change is complemented by a new staking mechanism, requiring “bakers” to manually manage their stakes and staking policies, replacing the old security deposit system.
Additionally, Etherlink, an Ethereum Virtual Machine (EVM)-compatible layer-2 solution, has achieved significant improvements in terms of costs and transaction finality times. Thanks to the Paris upgrade, Etherlink positions itself as a cheaper and faster alternative compared to other Ethereum layer-2 solutions like Arbitrum and Optimism. Transaction finality times on Etherlink are now approximately 500 milliseconds, with data posted on layer-1 in just 10 seconds, much faster than the times of its competitors.
