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Tezos Is About to Enact Its First-Ever On-Chain Blockchain Update

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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 ...

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