Tezos launches new Delphi protocol update

Blockchain platform Tezos has launched its latest network protocol upgrade called Delphi. The team has been developing Delphi for a while and it was highly anticipated. It is expected that the launch of the feature would reduce gas consumption on the Tezos network by 75%.

Welcome to Delphi! 🏛️ #Tezos upgraded at block 1,212,417. pic.twitter.com/XjnQmAefjN

— Tezos (@tezos) November 12, 2020

Scalability has been high on the list for Tezos and Delphi implements significant adjustments to the Michelson interpreter and the gas model. Thus, developers can create more complex smart contracts leading to advanced on-chain applications.

Delphi is the fourth major upgrade by the Tezos blockchain and was developed by a collaboration between Nomadic Labs, Metastate and Marigold.

Speaking about the development, co-founder of Bender Labs Hugo Renaudin believes that the adaptability of Tezos was appealing to institutions. He further added that Tezos is ripe for DeFi development.

In addition, leading Tezos architect Arthur Breitman stated that it was a major delight that different teams across the world could work together on developing “Delphi”.

Tezos continues to improve blockchain infrastructure

Tezos has a good reputation within the blockchain scene due to its scalability features. It has been largely adopted by financial institution who want to scale on blockchain and provides adaptability that is not available in the popular smart contract of the Ethereum blockchain

One of the major reasons for Tezos blockchain success is the integration of an on-chain and binding mechanism. This enables future updates to be implemented on the blockchain seamlessly.

It is understood that this latest update Delphi will be implemented throughout its blockchain network. The news has elicited positive response from the Tezos community. As the crypto space keeps evolving and achieving new groundbreaking innovations, Tezos blockchain will efficiently include these innovations and evolve to stay on par with the latest developments.

The Tezos price is currently down 3% in the last 24 hours and trading around $2,02.