Keeping the momentum intact, Tezos has now gone ahead with its seventh upgrade proposal to enhance its capabilities further. This latest upgrade proposal called Granada makes the Tezos the only blockchain network that works on the principle of a solid and robust governance system. The network constantly evolves itself to meet the changing requirements on the front of technology. These upgrades are promptly adopted by community members to stay ahead of the innovation curve.
The focus of the latest upgrade is to enhance the overall capabilities of the network by specifically reducing the cost associated with the gas, improving the finality of Tezos, and adding the new service of liquidity baking.
The average reduction in the gas fees that will be achieved by this upgrade is around 50%. This reduction will enhance developers’ capability and make the whole ecosystem more vibrant and dynamic. The currently used algorithm on the network Emmy+ is also getting replaced by Emmy, a move that will bring an improvement in the block time from 60 seconds to 30 seconds. The direct benefit of this reduction will be manifested in faster transactions that will improve the overall agility of the system. Finally, the feature of liquidity baking will also be introduced to the ecosystem of Tezos through the execution of this latest upgrade.
Along with this seventh upgrade, Tezos has also gone ahead with introducing a platform that will help in the deployment of its testnets. The platform is named Teztnets.xyz, and the stakeholders can utilize it throughout the ecosystem to streamline the process of coordination among the developers, participants, validators, and community members. The enhanced participation and coordination will increase the system’s working efficiency and procedural effectiveness, thereby bringing benefits to all stakeholders involved in the value chain.
Tezos has made tremendous gains in the segment, and its constant and consistent emphasis on innovation sets it apart from others. It will be interesting to witness how the latest upgrade by the network will be received in the market and whether it will bring a real-world difference in development and coordination activities among the stakeholders or not.