Faster L2 transactions, lower fees
Following the Paris update, Tezos-based layer-2 (L2) scaling solutions can reach millions of transactions per second (TPS).
Paris, the 16th update to the Tezos protocol, went live on the mainnet on June 5. It aims to make the network faster and more scalable.
A key goal of the upgrade and Tezos scalability roadmap was to maintain low transaction fees in the EVM-compatible L2 network Etherlink, even under high network demand.
According to Tezos co-founder Arthur Brittman, following the upgrade, EtherLink is now cheaper than Arbitrum and Optimum, with an improved user experience (UX). He told Cointelegraph.
“Thanks to the Paris update, Etherlink users will enjoy an improved UX: L2 deadline will be equal to Arbitrum One and Optimum, but L1 print delay will be (even) better.”
Etherlink has a transaction latency of 500 milliseconds, with data posted on the primary L1 within 10 seconds. It takes two minutes on Optimism and seven minutes on Arbitrum One.
Despite the final difference, Arbitrum One and Optimism remain two of the largest Ethereum L2s by TVL, with the former worth $19.2 billion and the latter $7.8 billion locked in total value (TVL), according to L2Beat.
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Tezos' Data Availability Layer to increase L2 throughput to over a million TPS
Tezos' newly introduced Data Availability Layer (DAL) is a key feature of the upgrade, which aims to promote more decentralized network participation with more affordable hardware and bandwidth requirements.
The introduction of DAL will enable Tezos SmartRolls to execute millions of TPS in the future.
Tezos' stack has already reached one million TPS, with a public showing in July 2023, said Britman. He explained.
“This functionality is achieved using horizontal rendering capabilities (1,000 packet nodes each running 1,000 TPS in parallel). The Paris update deploys the Data-Availability Layer (DAL) on the corenet, which increases Tezos L1's ability to verify batch data publications by several orders of magnitude.”
Updated TPS data after the Paris update is still not available.
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The Paris update reduced blocking times to 10 seconds
The update reduced block times from 15 seconds to 10 seconds to create a faster transaction end and reduce delays when making payments. Faster payment verifications can improve user experience in decentralized applications (DApps) built on Tezos.
This new endpoint has significantly reduced payment delays, says Tezos' Brittman.
“This means transactions on Tezos L1 are processed and verified faster. These improvements are built without compromising the network's robustness and security, and make Tezos L1 even more attractive to mission-critical applications that require fast settlement times.”
Creating faster transaction times without sacrificing network decentralization and security is one of the cryptocurrency industry's most pressing concerns, known as the blockchain trilemma.
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