a16z: Crypto Applications
On-Chain Developer
Bounties (Tezos)
On-chain governance for funding
developers via bounties.
â¸2020 Andreessen Horowitz. All rights reserved worldwide.
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Tezos Is About to
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May 28, 2019 at 18:41 UTC Updated May 28, 2019 at 19:57 UTC
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EVENTS
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After nearly three months of voting by token holders, the Tezos
blockchain will undertake a series of backwards-incompatible changes
to the network on Wednesday.
Called Athens A, the upgrade proposal was the first to undergo the network's "self-amendment" process in
which bakers on Tezos - equivalent to miners on bitcoin or ethereum - stake tokens bundled into "rolls" to
show their support for or against competing upgrade proposals. Tezos is a proof-of-stake (PoS) blockchain
with an estimated valuation of over $1 billion.
Teeing up this week's event, a developer group known as Nomadic Labs kick-started Tezos' first on-chain
governance process back in February. At the time, the news was a notable given the turbulence that took
place during the project's early days.
As reported in March, Nomadic Labs put forward two proposals: Athens A and Athens B. Athens A and Athens
B both suggested an increase to the computation or gas limit of Tezos blocks. This would effectively make
smart contract deployment easier for application developers building atop the platform.
After three months of voting and testing, bakers have now officially passed the final voting threshold to
activate Athens A on Tezos' main network.
Athens A, on the other hand, also suggested a reduction to the minimum amount of tokens - called a r size-
that's required for a user to become a baker. This would reduce the barrier entry for baking and encourage a
higher number of bakers on the Tezos blockchain.
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