Why is Tezos EDO noteworthy and what is it all about?
Please note: Stakin has discontinued its Tezos public infrastructure as of 1st of January 2022, as such the baker is no longer generating rewards and this guide is no longer maintained. For more information, read our official announcement (link to it) or visit https://stakin.com.
A couple of weeks ago Nomadic Labs, Marigold and Metastate put out an announcement introducing Edo, the latest proposed protocol upgrade for Tezos. You might wonder, another proposal? Haven’t we just had Delphi? Yes, that’s true! But, the current Tezos protocol provides windows for new proposals every several months and as the team behind Edo mentioned; one such window is now open. That’s why, in this article, we’re giving you a rundown on everything you want to know about the Tezos Edo Proposal.
🧐 What is the Edo Proposal?
The Edo Proposal has two main innovation features: Sapling and Tickets. Additionally, it obtains improvements to performance and gas costs as well as the introduction of the “adoption period” (also known as the fifth period) to the voting schedule. It is said that these new features will improve the privacy and developer experience on Tezos. But what do these changes entail?
Let’s start with the fifth period. Currently, there are four stages to the governance of Tezos known as the proposal period, the exploration period, the testing period and the promotion period. The Edo proposal brings the adaptation period to Tezos which should make the protocol transitions easier. The current four periods, with eight cycles during voting, will be transformed to a new system with five periods of five cycles during voting. The fifth period will also have a five cycle gap between the adoption of the new protocol and the time that it’s activated.
So, what about these two main features? Sapling and Tickets? Sapling is a protocol which implements shielded transactions and enables smart contract developers to easily integrate shielded transactions in their smart contracts and therefore create privacy-conscious applications.
- Shielded transactions — are an opt-in type of transactions that provide complete privacy: sender, receiver and the amount cannot be derived from looking at the public blockchain.
Tickets are a handy mechanism for smart contracts to grant portable permissions to other smart contracts or to issue tokens. That means, Tickets make it much easier for Tezos’ developers to write secure and composable contracts.
🚀 Our View
Stakin has been supporting the Tezos Edo proposal and will vote YES to deploy this new protocol. The latest Edo proposal is investigated by the community and currently in the Testing period. Any releases of the Tezos software from 8.0 and above already include the Edo daemons which can be used for testing purposes.
Edo has the potential to make Tezos governance more efficient, notably thanks to a shorter voting period and the addition of the Adoption Period, which will offer further opportunity for testing, and guarantee a smoother transition.
A composable and privacy-conscious contract will enable more innovations in the DApp ecosystem. These innovations are essentials to improve development times, developer experience, as well as to offer some privacy to critical business and financial applications, which will run on the blockchain soon.
- If you’d like to join the conversation about the Edo Proposal, click here to visit Agora.
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