Tezos upgrade reduces smart contract fees by 75% to attract DeFi

Tezos upgrade reduces smart contract fees by 75% to attract DeFi

Top-20 crypto asset by market cap Tezos (XTZ) has successfully completed its latest upgrade, “Delphi,” which aims to reduce smart contract gas fees by 75% to attract decentralized finance (DeFi) developers to build on top of its blockchain.

Delphi was proposed on Sept. 3. It’s a joint undertaking from Nomadic Labs, Metastatic, and Gabriel Algour intended to “help individuals developing smart contracts on Tezos.” 

According to a joint post from Delphi’s developers the upgrade is “crucial to enable novel applications on Tezos that target areas like DeFi, collectibles, and gaming.”

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“The size and complexity of smart contracts is limited by gas constraints and so people attempting to build contracts with rich functionality have needed improvements to those constraints for some time.”

Tezos is a fourth-generation blockchain platform that utilizes proof-of-stake and facilitates smarts contracts and decentralized applications.

Tezos’ core value proposition is that it’s a “self-amending blockchain,” which formally utilizes on-chain mechanisms for proposing, testing, and activating

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