Tezos Paris Upgrade: Faster L2 Transactions and Lower Fees Revolutionise Blockchain Scalability

Tezos has rolled out its 16th upgrade, named Paris, on the mainnet, aiming to enhance the network's speed and scalability. This upgrade reduces block finality times to just 10 seconds, which is expected to significantly improve transaction speeds and reduce latencies for payments on the Tezos blockchain. One of the key features of the Paris upgrade is the introduction of the Data Availability Layer (DAL), which is designed to enable Tezos' Smart Rollups to scale to execute millions of transactions per second (TPS) in the future. The upgrade also aims to maintain low transaction fees across the network, particularly on Tezos-based layer-2 (L2) scaling solutions like Etherlink. Despite the discrepancy in finality compared to other Ethereum L2 solutions like Arbitrum and Optimism, Tezos' co-founder Arthur Breitman believes that the improvements brought by the Paris upgrade will enhance the user experience and make Tezos L1 more appealing for applications requiring fast settlement times.