The developers of the Tezos cryptocurrency project announced the successful activation of the Granada update, thanks to which blocks are mined twice as fast, and the volume of gas for smart contracts has been reduced.
Within
renewal The Granada consensus algorithm called Emmy + has been replaced by Emmy *. Now the block mining time is not 60 seconds, as before, but only 30 seconds. In addition, the update significantly reduces the volume of gas for smart contracts – commissions have decreased by 3-7 times.
The transition to Emmy * should be the next step in preparing the Tezos blockchain for the transition to the Tenderbrake consensus algorithm developed by Nomadic Labs, which should significantly speed up the network. The transition to Tenderbrake will take place at the next major Tezos update.
Also, the developers have added a new experimental feature called the “liquidity bank”. It should increase liquidity between XTZ and tzBTC. Now, when a block is mined, 2.5 XTZ are distributed among users providing liquidity in the XTZ / tzBTC pair.
Granada is already the third update to the Tezos network this year and the seventh major update overall. The Tezos project has an upgrade advantage – the process takes place without a hard fork and chain splitting. In May, the developers activated the Florence update, which optimized network performance.
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