The “Tezos” blockchain succeeded in implementing and launching a new upgrade yesterday, which it called “Delphi”.

Upgrading and upgrading Delphi will make the network more attractive to decentralized applications, including DeFi, as the new update significantly reduces transaction-related gas fees.

According to advertise The Delphi update mainly reduces gas consumption by about 75% thanks to a number of improvements added to the Tezos blockchain. In addition, storage costs are now four times lower.

Hugo Ronodin, co-founder of the LGO Group and founder of Bender Labs commented:

When you combine the regularity of the upgrade and the lower gas costs that this particular upgrade brings, Tezos is ready to develop DeFi applications.

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Like in the Ethereum blockchain, the transaction fee in Tezos is also called gas which represents the complexity of the calculations required to perform any given transaction.

The more complex the transaction, the higher the gas consumption.

While Tezos differs from Ethereum in that it does not use gas to pay fees on Tezos directly, rather transactions on Tezos are almost free and fees and gas are mainly used as a mechanism to prevent applications from consuming too much computing power.

However, the fees, which are paid separately, are based on the amount of gas the process requires.

Tezos sets the maximum amount of gas per single transaction, and there is also a total gas limit per block.

Thus by reducing gas consumption, upgrading Delphi makes it easier to deploy more complex smart contracts for advanced applications such as decentralized finance applications, for example.

Gabriel Alvor, lead developer of Marigold and one of the core development teams that worked on the Delphi upgrade, highlighted the importance of lower gas costs for DeFi applications.

Alvor said

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

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He added:

It will allow Tezos to stay ahead of the blockchain projects when it comes to improving performance, integrating new technology, and encouraging new use cases.

We previously discussed in Bitcoin Arabs about the rapid development of the Tezos project, which aims to harmonize the operation of decentralized finance applications:

The Tezos project is advancing at an accelerating pace towards decentralized finance… Can it budge Ethereum?

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