Tezos Blockchain Activates Upgrade By Token Holder Voting
There has been an official upgrade to the Tezos
blockchain. The self-amendment process of Tezos which began for the first time
in February came to a close late on this Wednesday with the victorious
activation of an upgrade proposal, dubbed Athens A.
This upgrade was proposed by a Tezos developer group named Nomadic Labs. This upgrade, Athens A reduces the minimum amount of tokens called rolls which are required for a user to become a baker on the Tezos network from 10,000 XTZ to 8,000 XTZ.
CMO of Everstake, Alexandr Kerya said, “Now if a baker has 16k, only 10k is staking while after the upgrade the baker will have 2 rolls engaged in staking. There will be fewer ‘leftovers’ so to speak which is particularly important for small bakers.” Arthur Breitman, the creator of Tezos, said, “The Athens activation demonstrates that cryptocurrencies do not have to choose between being stuck with early technological choices or protecting themselves against interference. Upgrades can be automated, decentralized, and self-funding.”
Sun Yin, the founder of the second most popular
public baking service on Tezos Cryptium Labs said, “Thus, we were concerned
about voter apathy and voter fatigue. Yet, we managed to surpass quorum
requirements in every phase and I am impressed by how closely the community has
been relentlessly following through the entire process, actively reminding all
bakers to participate.” From now the users do not have to manually upgrade the computer
servers named nodes in the Tezos network. This upgrade has been pushed to all
bakers at a specified block number. Jacob Arluck from the Tocqueville Group
which is funded by The Tezos Foundation said, “It’s similar to how
Constantinople happened at a given time. But instead of everyone updating their
software, [the upgrade] gets pushed to everyone’s computers.”
Speaking about the improving future of Tezos,
Breitman added, “Some confusion about the proposals highlighted the need for
better off-chain governance rules prior to ratification of an amendment. One
thing I’ve learned in the process is that it’s more enlightening to look at the
ratification of an amendment as a decentralized oracle for existing consensus
than as a voting mechanism per se.”
Gloss