As you may have known, Tezos is designed to be the most upgradable blockchain, and it is continuously upgraded. Here are some examples of what kind of upgrade it has already implemented: (as of 21 June 2022)
- Ithaca (April 2022)
Introduced Tenderbake, a significant upgrade to its consensus algorithm, which enables fast finality and improved scalability for the Tezos blockchain.
- Hangzhou (December 2021)
Introduced several improvements to smart contracts such as the ability to read the storage state of other smart contracts, and timelock encryption to serve as a countermeasure against Block Producer Extractable Value.
- Granada (August 2021)
Introduced Liquidity Baking, which mints a small amount of Tez every block and deposits them to a constant product market making smart-contract. Which improved liquidity and 3–6 times decrease in gas consumption.
- Florence (May 2021)
Doubled the maximum size of smart contracts to support more complex transactions and further optimization of gas fees.
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