Last weekend saw the long-awaited fifth upgrade of the Tezos Blockchain. The development by Nomadic Labs, Marigold, DaiLambda, and Metastate sees new smart contract implementations which make this the most momentous upgrade thus far.
The Edo upgrade consists of features such as “Sapling”, “Tickets” and a new “adoption period”. In addition, there are improvements in performance and gas consumption.
Edo facilitates integration of Sapling into smart contracts which enables voting and support for asset transactions with “selective disclosures”.
Tickets are another main implementation of the Edo upgrade. According to Tezos:
“Tickets are a convenient mechanism for smart contracts to grant portable permissions to other smart contracts or to issue tokens. While it’s possible to achieve this with existing programming patterns, tickets make it much easier for developers to write secure and composable contracts.”
The other large part of the Edo upgrade is that of the “adoption period” in the upgrade process. Formerly, upgrades were implemented one block after the end of voting (approx. 60 seconds). Tezos Bakers then had the task of transitioning their nodes to the new protocol – not an easy job.
For a far easier transition, the Edo upgrade has added an extra fifth cycle adoption period of around 2 weeks. This will provide a buffer for the upgrade process, which will ensure that it happens smoothly for all users.
Tezos continues to innovate and update its protocol regularly. The last upgrade, Delphi, was integrated 3 months ago, and cut gas costs by 75%, while also making Tezos significantly more attractive for DeFi.
A new upgrade proposal, Florence, is already planned for the coming weeks.
With its open-source platform for smart contracts aimed at institutional and high value use cases, Tezos is building a blockchain for the future. The fact that varied institutions and individuals are working on it across the world, help to make it a continually innovative project.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.