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Tezos completes first round of voting

Published 03/21/2019, 06:07 PM
Updated 03/21/2019, 06:08 PM
© Reuters.

  • Tezos currently has $435 million in market capitalization, according to CoinMarketCap.
  • Tezos raised $232 million in an initial coin offering (ICO) in 2017.

Tezos, the smart contract platform which raised $232 million in an initial coin offering (ICO) in 2017, concluded their first round of voting for two competing system-wide upgrade proposals named ‘Athens A’ and ‘Athens B’. Athens A won the majority by gathering a total of 18,181 votes out of a total of 25,855 community votes. Tezos Foundation stated in a blog post:

“The Tezos Foundation decided to remain neutral by not upvoting any proposals …. As noted, this contributes to the required quorum and further elevates the voices of other members of the Tezos community in this historic first vote.”

Athens A is going to introduce two backward-incompatible changes to the network.

  • The gas limits per block will be increased to allow for larger scalability.
  • Roll sizes aka aggregated Tezos tokens that bakers, Tezos’ version of miners, hold to be randomly selected in the block creation process, will be decreased from 10,000 XTZ to 8,000 XTZ.

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