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Tezos upgrade drops Gas costs by 75% paving the way for Decentralized Finance applications
The new Tezos upgrade significantly drops Gas costs, paving the way for Decentralized Finance applications.
Recently, the Tezos blockchain completed an important upgrade called "Delphi." The main goal of this upgrade is to attract more application developers by significantly dropping the Gas costs required for operations, especially in the decentralized finance ( DeFi ) field.
After the upgrade, the Gas consumption of the Tezos network has dropped by approximately 75%, thanks to a series of optimizations to the blockchain's Michelson language interpreter. Additionally, storage costs have dropped by 4 times. These improvements allow developers to deploy more complex smart contracts and applications on Tezos.
A blockchain expert said: "With the significant drop in Gas costs and the regularization of upgrades, Tezos has already established a mature Decentralized Finance development environment."
The Gas mechanism of Tezos is similar to that of Ethereum, reflecting the computational complexity of executing operations. However, Gas on Tezos is not directly used to pay fees, but serves as a limiting mechanism to prevent applications from excessively consuming computing power. Nevertheless, users still need to pay corresponding fees based on the amount of Gas required for the operations.
Tezos has set Gas limits for single operations and each block. By dropping Gas consumption, the Delphi upgrade makes it easier and more cost-effective to deploy complex smart contracts in advanced applications such as Decentralized Finance.
A core developer involved in the development of Delphi emphasized the importance of low Gas costs for DeFi applications: "After the Delphi upgrade, Gas costs have dropped significantly, greatly enhancing the appeal of the Tezos protocol for DeFi applications and complex smart contract experiments."
He also pointed out that the new and more frequent protocol upgrade cadence adopted by Tezos will help it maintain a leading position in performance enhancement, integration of new technologies, and the development of new use cases.
Previously, Tezos has conducted multiple tests in the Decentralized Finance field, being regarded as one of the main competitors of Ethereum. With the successful implementation of this upgrade, Tezos's competitiveness in the DeFi ecosystem has undoubtedly been further enhanced.