Our reports provide insights and an overview of the Foundation’s activities. Twice a year, we issue a Biannual Update that covers our activities during the last six months.
Tezos continues to be at the forefront of adaptability and innovation, and we take great pride in setting the standard of sustainability and security. As a liquid proof-of-stake blockchain, the low carbon footprint of Tezos means developers and users can prioritize innovation without compromising sustainability. Its low energy consumption and low gas fees are one of the many reasons why Tezos is quickly becoming recognized as the most responsible place to mint, host, and trade clean NFTs.
During the period that this report covers, the Tezos blockchain was successfully upgraded twice. Delphi, the first upgrade, significantly improved the performance of the Michelson interpreter and lowered gas fees significantly while Edo was adopted only a few months later and added continuous performance improvements and, with Sapling, a powerful tool that enables new types of applications, such as voting and asset transactions with selective disclosures. With Florence approaching on the horizon, it is clear that the Tezos upgrade process has reached a seamless regular cadence and so we say with a smile that for Tezos, other blockchains have become a testnet.
Since the release of our last biannual update in February, a global pandemic has changed how we work, live, and interact with one another. In spite of these dramatic changes, the Tezos ecosystem has come together to make significant strides and reach multiple important milestones.
The Tezos Foundation has continued to execute on its mission to foster a diverse and robust global community. Since February, we have issued 56 new grants, entered into 4 strategic partnerships, and completed a 3rd independent external audit of our finances. This report provides insight into and a detailed overview of our activities over the last six months.
It has been a momentous six months since our first Biannual Update. The Tezos ecosystem and community continue to grow and gain momentum.
The Tezos governance process continued to prove itself with the Babylon and Carthage upgrades. In addition to becoming the first public blockchain to upgrade itself automatically without requiring a hard fork, Tezos has shown that it is possible to establish a regular cadence of improvement that is not seen in other blockchain ecosystems.
We are excited to share with you the first Tezos Foundation Biannual Update. Because this is our first Biannual Update it will cover the time period spanning from the betanet launch, when a genesis block was proposed on 30 June 2018, through the end of July 2019 (our next Biannual Update will be released after the end of 2019).
Reflecting on some fundamental highlights, the first non-test Tezos network went live feature-complete with the launch of the betanet on 30 June 2018. The network has performed well and the betanet rolled into a mainnet on 17 September 2018.