Tezos Successfully Activated Carthage – Its Third Protocol Update: XTZ Price Surpasses $3

Tezos announced on its new Carthage update has been successfully activated at block 851,969 on the chain. Carthage is the third system-wide protocol update on the Tezos blockchain so far and is focused on making further improvements to the previous Babylon update.

The Carthage Protocol Update

Tezos is an open-sourced, decentralized blockchain. According to some, the Tezos network is a real ‘digital commonwealth’ that works to facilitate transactions by creating smart contracts between users. And as the third update since the network’s inception, Carthage brings with it changes to the ecosystem‘s remote procedure calls (RPC) and general operations.

“Carthage activated seamlessly, congratulations to all the developers and bakers who made it happen,” told us Arthur Breitman, the co-Founder of Tezos and CTO of Dynamic Ledger Solutions.

The first two system-wide updates were known as “Athens” and “Babylon.” According to Breitman, “The Athens activation demonstrated that cryptocurrencies do not have to choose between being stuck with early technological choices or protecting themselves against interference.”

breitman-min
Arthur Breitman. Image: GitHub

 

On the other hand, Babylon was implemented in October 2019 and made improvements to the network’s consensus algorithm, its governance mechanism, and its smart contract functionality.

While Babylon was a more “feature-rich” update, Carthage is touted as a “housekeeping” update, containing a range of bug fixes and other small improvements, which includes a corrected formula concerning rewards on the network.

Aside from that, the most significant change to come with the Carthage update is an increase in user’s gas limits, which will now allow users to execute an increased number of smart contracts.

XTZ Fanominal Year

Just like the project, the Tezos cryptocurrency (XTZ) managed to reflect the recent developments and has surged over 200% in the past four months. With this, Tezos became one of the top-performing cryptos on the market, while its market cap recently surpassed $2 billion, which places the project in the top 10 biggest crypto projects by market cap. Data by CoinGecko.

Despite this, and with the volatile history of most cryptocurrencies, many are still skeptical of whether Tezos brings any real value to the blockchain, or if it’s just another digital coin with little practical value. Still, the fact that the Tezos ecosystem is being continually updated and improved shows that Tezos does, in fact, have what it takes to continue its legacy.

Binance Futures Limited Offer: Use this link to register & get 10% discount on fees (Exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.