Tezos Achieves Breakthrough in Layer-2 Scaling Solutions After Paris Upgrade
Tezos has made a significant leap in its scaling capabilities following the successful implementation of the Paris upgrade, which went live on the mainnet on June 5. This upgrade, the 16th for the Tezos protocol, was designed to enhance the network’s speed and scalability.
One of the primary objectives of the Paris upgrade and Tezos’ scalability roadmap was to ensure that transaction fees remained low on the Ethereum Virtual Machine-compatible L2 network, Etherlink, even during times of high network activity. According to Arthur Breitman, co-founder of Tezos, Etherlink now offers a more cost-effective and user-friendly experience compared to other L2 solutions like Arbitrum and Optimism.
Etherlink boasts a transaction finality time of 500 milliseconds, with data being posted on the main L1 chain in approximately 10 seconds. In comparison, it would take two minutes on Optimism and seven minutes on Arbitrum One, despite their higher total value locked (TVL) figures.
The introduction of Tezos’ Data Availability Layer (DAL) is a significant feature of the Paris upgrade, aimed at increasing network participation through more affordable hardware and bandwidth requirements. This enhancement will allow Tezos’ Smart Rollups to scale and achieve millions of transactions per second in the future.
The Paris upgrade not only improved transaction speeds but also reduced block times from 15 to 10 seconds, resulting in faster transaction finality and lower latencies for payments. This enhanced finality has led to a significant decrease in payment latency, enhancing the overall user experience for decentralized applications (DApps) built on the Tezos platform.
Solving the blockchain trilemma – the challenge of achieving fast transaction times without compromising decentralization and security – remains a top priority for the cryptocurrency industry. Tezos’ recent advancements showcase its commitment to overcoming this challenge and continuing to innovate in the blockchain space.