Tezos (XTZ) blockchain We have successfully activated the Paris Protocol upgrade, marking an important milestone in the development of our platform. According to Nomadic Labs, the upgrade applied in block #5,726,209 on June 4, 2024 introduces several important improvements aimed at improving scalability and staking.
Introducing a data availability layer
One of the key features of the Paris upgrade is the introduction of the Data Availability Layer (DAL). This new layer is designed to significantly improve the throughput of Smart Rollups, including Etherlink. Tezos bakers are encouraged to participate in DALs, which require different hardware and bandwidth compared to layer 1 baking.
DAL is an important step toward the long-term scalability of Tezos, allowing bakers to prove at layer 1 what data is available. Although optional, we recommend that you participate in this process to maximize the benefits of your new upgrade.
Adaptive issuance and new staking mechanisms
The Paris upgrade also brought changes to staking with the introduction of Adaptive Issuance. This mechanism adjusts staking rewards based on the percentage of total Tez supply involved in staking. Initially, the interest rate will fluctuate between 4.5% and 5.5% and then expand to a range of 0.25% and 10% over six months.
The new staking mechanism complements delegation and provides double the rights and rewards compared to traditional delegation. However, if the baker misbehaves, the staked funds may be frozen and deducted. Bakers are encouraged to review their settings and familiarize themselves with the new staking policy to ensure compliance and optimal performance.
Future prospects and community participation
The successful activation of the Paris upgrade sets the stage for future developments, including the upcoming ‘Q’ offering. The participation of the Tezos community has been instrumental in shaping these features, and we look forward to continued collaboration.
Tezos enthusiasts are also looking forward to its annual flagship conference, TezDev 2024, to be held in Brussels on July 11. The event promises to provide more insight and discussion on the latest developments in the Tezos ecosystem.
With the Paris upgrade now underway, Tezos aims to benefit both current and future projects on the blockchain by providing faster finality and improved scalability.
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