KEY TAKEAWAYS
- Etherlink’s Calypso upgrade on the Tezos blockchain aims to significantly enhance network performance with up to 30 times faster smart contract storage.
- The upgrade introduces streamlined storage processes, reducing storage needs while maintaining data accessibility through Octez EVM Nodes.
- Calypso improves transaction efficiency with a new precompiled contract entrypoint, facilitating faster withdrawals and aligning with Tezos L1 governance updates.
- Infrastructure improvements enhance Etherlink’s resilience, ensuring smooth operations even under unexpected conditions.
Etherlink, an EVM-compatible layer 2 solution on the Tezos blockchain, is undergoing a significant upgrade with its third protocol proposal, Calypso. This upgrade aims to enhance the network’s performance without causing major disruptions, a common issue with blockchain protocol upgrades. The proposal is currently live on the Etherlink Testnet and awaits approval from Tezos L1 bakers to go live on the mainnet.
Calypso promises a substantial performance boost, offering up to 30 times faster smart contract storage. This improvement is akin to upgrading from an old hard drive to a high-speed SSD, resulting in faster data loading and smoother application performance. The key to this enhancement lies in the Virtual Machine (VM) caching, which optimizes read and write operations, reducing lag and accelerating execution. This speed boost is particularly beneficial for decentralized applications (dApps) such as decentralized exchanges and DeFi platforms that require rapid storage access.
Another significant change introduced by Calypso is the streamlined storage process. Instead of storing every block in history on full Rollup Nodes, the upgrade retains only the latest block while making the full history accessible through Octez EVM Nodes. This approach reduces storage needs, increases efficiency, and maintains data accessibility, similar to decluttering a computer while keeping everything available in the cloud.
Enhancements in Governance and Transaction Efficiency
Calypso also addresses the issue of slow transactions when moving tez from Etherlink to Tezos L1. The upgrade introduces a new precompiled contract entrypoint, paving the way for faster withdrawals. This improvement is comparable to switching from congested city streets to an express lane, facilitating smoother and quicker transactions. Additionally, this change aligns with the expansion of the FA token bridge.
In response to the Quebec upgrade, which reduced Tezos block times to eight seconds, Etherlink is updating its governance contracts to remain synchronized. This update is akin to keeping a phone’s software current to avoid bugs and performance issues. By staying aligned with Tezos L1, Etherlink ensures efficient voting, security, and decision-making processes.
Infrastructure and Resilience Improvements
Calypso enhances Etherlink’s reliability by introducing key improvements to maintain smooth operations even under unexpected conditions. The kernel now uses events to notify the sequencer of delayed transaction flushes, reducing downtime risks from unforeseen network issues. This results in a more resilient system with better uptime, benefiting both users and developers.
Beyond these upgrades, Etherlink’s infrastructure has been continuously improved to boost performance and stability. For more detailed information on these enhancements, the full details can be found here.
Tezos bakers have the opportunity to influence Etherlink’s future by voting on the Calypso proposal. This upgrade exemplifies how blockchains can evolve without the disruptions typically associated with protocol changes. By leveraging Tezos governance, Etherlink demonstrates that upgrades can be seamless and governance can be robust, ensuring continuous innovation.
Why This Matters: Impact, Industry Trends & Expert Insights
The Calypso upgrade for Etherlink on the Tezos network aims to significantly enhance performance by improving smart contract storage speed and transaction efficiency. This upgrade is crucial for maintaining the competitive edge of the Tezos blockchain in the rapidly evolving blockchain space.
Recent industry reports indicate that Tezos has been actively improving its protocol to enhance network speed and security. The Quebec upgrade, which reduced block times and improved transaction finality, aligns with the Calypso upgrade’s goal of enhancing performance and reliability across the Tezos ecosystem.
As per insights from Etherlink documentation, the Calypso upgrade includes significant performance improvements, such as enhanced caching for storage operations. This reinforces Etherlink’s commitment to optimizing user experience and operational efficiency on the Tezos network.
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