Tezos Blockchain Latest Upgrade Slashes Gas Cost by 75%

Tezos Delphi upgrade that is successfully implemented on Tezos blockchain has successfully slash gas cost by 75%. The Delphi upgrade is supposed or designed to help the network become more attractive for applications including the Decentralized Finance (DeFi), it hopes to gain this by drastically slashing gas cost for operations.

The official announcement states that the Delphi Network will typically reduce the amount of gas consumed by around 75% due to a number of improvements to the blockchain Michelson interpreter. Storage costs have also been reduced to about 4 times lower compared to its initial cost.

“When you combine upgrade regularity with the reduced gas costs that this particular upgrade brings, Tezos is ripe for DeFi development,” noted Hugo Renaudin, co-founder of LGO Group and founder of Bender Labs.

The Ethereum gas prices are different to that of Tezos, unlike Ethereum, gas is not used to pay fees on Tezos, they mainly serve as a limiter to prevent apps from consuming too much computing power. Gas prices are paid dude to the complexity of computations that are required to perform any given operations.

Gabriel Alfour, the lead developer at Marigold who served as a core developer of the Delphi upgrade spoke on the importance of low gas cost for DeFi applications.

“With the Delphi upgrade, the Tezos protocol has become significantly more attractive for DeFi applications and experimentation with complex smart contracts due to dramatically reduced gas costs, Alfour said.

Decentralized Finance (DeFi) and Decentralized application (DApps) have gained momentum since early this year. The demand for the DeFi ecosystem grew greatly and even raised concern for Ethereum gas prices. To eliminate this from happening again the Ethereum Network is going to launch ETH 2.0. Tezos upgrade might help DeFi builders cut down on cost and to use the Tezos blockchain more.