Tezos (XTZ): What the Granada Upgrade Brings
For a minute, there were valid concerns that Granada won't find a quorum.
However, on the 12th day of the 15-day voting period, the community accepted this proposal. Interestingly, despite hotly contested debates in social media and Tezos forums, the support for Granada seemed unanimous, as per voting patterns.
The Tezos network distinguishes itself from other chains, introducing superior self-governing methods preventing needless splits. Usually, contentious hard forks, like in Bitcoin and Ethereum, often waste time—impacting development time.
Following Granada's approval on July 20, the proposal will be merged into the mainnet later this week. Specifically, the activation of some of the upgrade's improvements would lead to lower transaction fees by a factor of three to six. At the same time, the proposal introduces faster settlement times, halving it to around 30 seconds while lowering the time taken before a transaction is considered final.
However, an exciting bit about Granada is the planned introduction of liquidity baking which encourages users to supply liquidity to the XTZ and tzBTC—a Tezos token backed by Bitcoin.
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