Tezos' Paris Upgrade Promises L2 Scalability and Enhanced User Experience
Summary:
Tezos has implemented its 16th upgrade, named Paris, aimed at enhancing the scalability and speed of the platform. The upgrade enhances the performance of Tezos-based Etherlink, making it more economical and user-friendly than counterparts Arbitrum and Optimism. A key feature of the upgrade is the Data Availability Layer, designed to increase decentralized network participation. The upgrade also cut down block times to 10 seconds, speeding up transaction finality and reducing latencies. Tezos co-founder Arthur Breitman asserts the upgrade does not compromise the network's robustness and security.
Tezos, a blockchain network, has completed its 16th upgrade, named Paris, which may enable its layer-2 (L2) scaling solutions to process millions of transactions per second. Effective from June 5, the upgrade aims to enhance the scalability and speed of the network while ensuring affordable transaction costs even at peak demand times, specifically on Etherlink, the L2 network compatible with EVM. The upgrade now positions Etherlink more favorably in terms of cost and user experience than Arbitrum and Optimism, noted Arthur Breitman, the co-founder of Tezos.
With this upgrade, Etherlink users will experience better finality times on L2, on par with Arbitrum One and Optimism. Etherlink offers a 500-millisecond transaction finality time, with posting the data on the main network in roughly 10 seconds. Meanwhile, it takes two minutes for Optimism and seven minutes for Arbitrum One. Despite these differences, Arbitrum One and Optimism have retained their positions as leading Ethereum L2s, backed by $19.2 billion and $7.8 billion total value locked (TVL) respectively.
A significant feature introduced in the Paris upgrade is Tezos' Data Availability Layer (DAL). This function, designed to encourage greater network participation by reducing hardware and bandwidth constraints, will empower Tezos' Smart Rollups to potentially execute millions of transactions per second in the future. Horizontal scaling in a public demonstration in July 2023 enabled Tezos Rollups to reach one million TPS, explained Breitman.
The upgrade also trimmed block time to just 10 seconds, fastening transaction finality and reducing latencies, thereby enhancing the user experience on Tezos-based decentralized apps. Breitman also emphasized that these improvements do not compromise the network’s robustness and security but make it more suitable for applications necessitating swift settlement times.
Addressing the "blockchain trilemma," which is providing faster transaction times without undermining decentralization and security, remains one of the most critical challenges in the crypto industry.
Published At
6/5/2024 1:18:41 PM
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