Tezos blockchain has successfully implemented the Granada protocol upgrade, cutting block times in half and reducing smart contract gas consumption.
On 6 August 2021, the Tezos blockchain adopted Granada protocol at block #1,589,248. Granada was jointly developed by Nomadic Labs, Marigold, Oxhead Alpha, Tarides and DaiLambda.
Granada follows the Florence protocol upgrade three months ago, and will be the seventh Tezos upgrade since Athens’ activation in May 2019.
Granada protocol marks the 7th successful upgrade on the Tezos blockchain and the 3rd to occur this year alone. The Tezos network has experienced substantial growth this year with activity up 1,200 percent and contract calls surpassing over 2 million per month.
Tezos adopts the best features of other blockchain protocols and adds continuous improvements without hard forks. By offering an on-chain mechanism to amend its network and seamlessly deploy upgrades, Tezos is able to stay ahead of industry trends and capabilities.
The latest Tezos blockchain upgrade brings faster finality, reduced smart contract gas consumption and liquidity baking.
Faster Finality: Granada replaces the previous consensus algorithm, Emmy+, with Emmy*. Emmy* cuts block times by 50 percent from 60 seconds to 30 seconds.
Smart Contract Gas Reduction: Granada will drastically reduce gas consumption for smart contracts. Consumption will be reduced by an average factor of 3 to 6 times.
Liquidity baking: Leverages governance mechanisms and incentives to provide for public goods.
Granada comes at an exciting time in the Tezos ecosystem. At Tezos’ last upgrade in May, Florence, contract calls began eclipsing the 1 million per month mark. That growth has only continued.
In July, the total number of smart contract calls made on the Tezos blockchain reached 10 million milestone with 5 million coming in the first 3 years and over 5 million just in the past 8 weeks.The number of new projects deployed on Tezos has seen a significant increase since January 2021.
The number of new projects deployed on Tezos has seen a significant increase since January 2021. Continuous successful upgrades to the protocol are now attracting more DeFi platforms, DEXes, and NFT marketplaces to the blockchain.
