Join Our Mailing List
Monday January 30, 2023
Bitcoin (BTC) $23,635.33   Ethereum (ETH) $1,636.26
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Networks & Protocols

Tezos’ sixth protocol upgrade brings more optimization as ‘Florence’ goes live

The latest upgrade arrives merely 3 months after the previous upgrade amid exponential growth and activity on the self-amending blockchain...

05/11/2021
Tezos’ sixth protocol upgrade brings more optimization as 'Florence' goes live

Published by the team of TQ Tezos, a builder of products, open-source software, and other public goods for the Tezos ecosystem.

It seems like only yesterday that Tezos underwent its fifth upgrade (codenamed Edo), which added some significant features to the ever-evolving platform such as Tickets, the Adoption Period, and Sapling.

Merely 3 months after this milestone, the Tezos network has adopted its sixth upgrade, named Florence after the iconic city in Italy. So what does this upgrade bring to the rapidly evolving Tezos blockchain?

Let’s dig into it.

Just as Edo brought on several feature upgrades and refinements, Florence continues the strong track record of optimizations and refinements that has made Tezos synonymous with rapid evolution that can absorb the latest and greatest features in the space.

Before we dive deeper into Florence, let’s also take a moment to look at the exponential growth in network activity that it has experienced over the past few months.

This exponential growth was really catalyzed in the Delphi release, which switched to a rapid release model and included changes that allowed smart contract activity to be more viable. The resulting subsequent activity illustrates how effective this has been for the Tezos ecosystem overall.

TQ Tezos: The number of contract calls performed on Tezos, by month
TQ Tezos: The number of contract calls performed on Tezos, by month

The network activity has surpassed >1M contract calls in one month, indicating rapidly growing interest; and engagement with the Tezos ecosystem tools and projects.

Of these, NFT-focused projects like Hic et Nunc and Kalamint are helping fuel this growth as artists of all genres discover the Tezos alternative for their NFT needs.

Tezos provides a high-performance, rapidly evolving, and low carbon footprint platform that vastly outshines its competitors. Neither the growth nor the advantages that Tezos currently possesses are an accident — these are by design, further facilitated by its ability to rapidly evolve and upgrade.

Florence

Just as Florence, the city, found itself at the nexus of the Renaissance with architecture, art, literature, mathematics, music, philosophy, politics, religion, and science all converging into a creative melting pot, so does Florence, the protocol upgrade.

We mean this in the very literal sense — this protocol upgrade comes at a time where artists, programmers, scientists, entertainers, architects, brands and more are discovering NFTs, and blockchain by proxy. The resulting experiences and interactions are akin to that of a true digital renaissance.

In this sixth protocol upgrade, Florence brings the following improvements:

  1. Twice the Maximum Operation Size — For this update, the maximum size of operations is doubled, which results in more than doubling the maximum size of a smart contract. This is particularly attractive to developers who are working on complicated applications that require such smart contract sizes.
  2. Gas Optimizations — In Florence, running more complex smart contracts at lower costs is possible due to the gas optimizations that have taken place. Overall, the gas arithmetic is also sped up by a factor of ten, increasing the overall performance of a typical execution cycle of the Michelson interpreter in Florence by 35%. This allows for smart contracts with more complicated functionality to operate even more economically.
  3. More Intuitive Smart Contract Development — With Florence, it is easier than ever for developers to write complicated systems of smart contracts without worrying about them behaving in unexpected ways. This is because Florence changes the applied order of inter-contract calls emitted by smart contracts to a depth-first execution order which is far more intuitive to most developers.
  4. More Reliable Amendment Process — Florence deactivates the Test Chain feature in the Economic Protocol, which was in practice never used, unnecessarily complicated, and resulted in reliability issues. With this change, the amendment process becomes more streamlined and trouble-free.

Tezos’ rapid pace of development and evolution supports the rapid expansion of activity on the network, ensuring the platform is optimized, reliable, and full-featured.

Florence once again showcases Tezos’ careful design, combined with its proven on-chain governance model and self-amendment mechanism, make Tezos the best blockchain in the world.

Viva Firenze!

To learn more about Florence and the various optimizations it brings to Tezos, head over to Tezos Agora.

Published by the team of TQ Tezos, a builder of products, open-source software, and other public goods for the Tezos ecosystem.
330
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Tether stablecoins now available on the Tezos blockchain ecosystem

06/09/2022
Tether stablecoins now available on the Tezos blockchain ecosystem

Tether.to, the company operating the blockchain-enabled stablecoin platform, announced it will launch Tether tokens on Tezos, the upgradable proof-of-stake  (PoS) blockchain. “We’re excited to launch USD₮ on Tezos, offering its growing and vibrant community...

Read more

Tezos Asia entity TZ APAC teams up with NUS Computing to develop blockchain talent

05/10/2022
Tezos Asia entity TZ APAC teams up with NUS Computing to develop blockchain talent

TZ APAC, an Asia-based blockchain adoption entity supporting the Tezos ecosystem, today announced a partnership with the National University of Singapore School of Computing (NUS Computing) to set up the Centre for Nurturing Computing...

Read more

DeFi platform EQIFI to offer Tezos (XTZ) staking and borrowing

09/02/2021
DeFi platform EQIFI to offer Tezos (XTZ) staking and borrowing

EQIFI, a decentralized finance platform, today announced new products for the Tezos blockchain ecosystem and will offer its users Tezos (XTZ) staking and borrowing. Powered by EQIBank a licensed and regulated digital bank, EQIFI...

Read more

Smartlink raises $3M to build Tezos-powered escrow payments ecosystem

05/10/2021
Smartlink raises $3M to build Tezos-powered escrow payments ecosystem

Smartlink, builder of a decentralized escrow service on Tezos, announced today it has raised $3 million in its private and public token sales. The Tezos-powered platform reached its $500K softcap in under 2 minutes...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
6 Best Cloud Mining Platform In 2022

6 Best Cloud Mining Platform In 2022

11/20/2022
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

01/05/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy