Tezos in 2024: A Few Things To Be Excited About!

2024 is shaping up to be a pretty wild ride for the Tezos ecosystem, and I’ve got to say, I’m seriously pumped about what’s on the horizon. In this article, I’m diving into the cool stuff that’s got me buzzing about Tezos this year. Think of it as your laid-back guide to the big things happening in the Tezos world.

We’re talking about the Etherlink launch, which is set to be a game-changer by linking up Tezos and Ethereum. Then, there’s the sprint towards slashing block times — because who likes waiting, right? And let’s not skim over the data availability layer, making everything smoother and more secure.

But wait, there’s more! Get ready for a whole new world of blockchain gaming that’ll keep us glued to our screens, and let’s not forget about the potential of adaptive issuance, tweaking the Tezos economy in ways we’ve never seen before.

So, grab your favorite snack, settle in, and let’s chat about why 2024 is going to be a banner year for Tezos. It’s not just about the tech; it’s about the thrill of being part of something that’s constantly pushing the boundaries. Let’s dive in!

Block Time Reduction #

Tezos has come a long way and evolved from a minute per block, to 30 seconds, to 15 seconds, and now looking towards a 10-second block time set for 2024, reflecting its commitment to staying competitive. Past protocol upgrades saw block times reduced from 1 minute to 30 seconds in 2021 with the Granada upgrade and then to 15 seconds in 2023 with the Mumbai upgrade, marking significant progress in network efficiency. Now in 2024 and according to a recent announcement from the core developers, we are expecting the block times to be reduced even further to 10 seconds per block. Can you feel the need for speed?

It’s important to note that these continuous reductions in block times are followed by a core belief in inclusivity; Tezos emphasizes that even as the network grows and evolves, it should remain accessible to participants with affordable infrastructure. This approach not only helps with decentralization, but also ensures that a broad base of validators can support the network’s continuous advancement without cost prohibitive expensive hardware to participate.

Etherlink Launch #

Another exciting development that I’m waiting for in 2024 is the launch of Etherlink. If you aren’t familiar with it, the TL;DR is that Etherlink is an EVM-compatible Tezos rollup that is planned to hit the mainnet around March 2024.

This rollup is being built to attract more developers and Dapps from the EVM space and it will have great advantages like the distributed sequencer for censorship resistance, MEV protection, half-a-second block times, and super cheap transactional costs. All that while using the robust security of Tezos’ layer 1. Personally, I’d love to see Etherlink launch with a suite of ready-to-use apps, leveraging its distinctive features right out of the gate.

If you want to learn more about Etherlink, you can check out my “Etherlink: EVM Rollup Enhanced!” and “Etherlink: Building The Most Decentralized EVM Layer 2 (On Tezos)” articles or listen to my discussion with Sasha Aldrick (who is one of the developers working on it) on the Blockchain Evolved Show.

Data Availability Layer #

The next thing on the list is the Data Availability Layer (DAL) that has already been successfully tested on a public testnet. Calling it the “Rollup Booster”, the data availability layer is a crucial piece for scaling Tezos in a completely decentralized way.

According to a blog post from Nomadic Labs, DAL is estimated to hit the mainnet in early 2024 and I can’t wait to see how much of a game changer it will be. If you would like to know more about DAL, you can check my “Data Availability Layer (DAL): What is it all about?” article.

Tezos Gaming Boom #

Another thing I am excited about is the advancements in the Tezos gaming landscape in 2024. The previous year marked the beginning of the gaming boon, with numerous games announcing their integration with Tezos and setting the stage for more exciting developments.

Titles such as Star Symphony, Coinblast, Battletabs, CrossRoads: Myth, Trackmind (and more) are already laying the foundation. With innovative projects like ORB3 and dedicated teams such as Trilitech, 2024 looks promising for Tezos gaming enthusiasts like me!

Adaptive Issuance #

It’s impossible to overlook the significance of “Adaptive Issuance”, a potential transformative shift in Tezos’s economic model. Adaptive issuance, if enabled, will revolutionize how new tez are generated by dynamically aligning the minting rate with the quantity of tez staked for network security. It sets benchmarks for staked tez and modulates emission rates with a combination of static and dynamic mechanisms. If you want to learn more about how it would work, take a look at this article.

Despite the initial rejection of this feature during the Oxford 1 upgrade proposal, I am confident we will see it coming back and hopeful for its approval and implementation in 2024!

As we wrap up this deep dive into the exciting developments surrounding Tezos in 2024, it’s clear that the journey ahead is filled with transformative potential. Beyond these anticipated developments, I’m equally eager to witness the evolution of the art and DeFi scenes within Tezos. The creative and financial landscapes are ripe for innovation, and Tezos provides a robust platform for both sectors to flourish. Additionally, the buzz around “Tezos 2.0” and other unlisted projects and developments indicates that the ecosystem is teeming with potential that extends far beyond what’s been covered.

So, as we move forward into 2024, let’s keep our eyes and arms open so that we are ready to embrace not only the advancements we anticipate but also the surprises and breakthroughs that lie in wait. Here’s to a year of boundless exploration, innovation, and growth in the Tezos universe! Here’s to a bright new year for the Tezos ecosystem and our community. Happy New Year and let’s go Tezos!