On February 4, 2019, Tezos announced Marigold, a layer-2 scaling solution for the Tezos coin. The project aims to ensure that more developers have an easier experience with the Tezos platform.
There is a constant balancing act with regards to various blockchain networks. For example, there are some coins that value scalability more than anything else and might sacrifice privacy as a result. Similarly, there might be privacy coins that put anonymity above all else, but as a result, suffer when it comes to speed. There are all sorts of projects that emphasize or uphold certain principles whilst compromising on others.
Tezos has just announced that it will be introducing Marigold, a layer-2 scaling solution for Tezos (XTZ). As a result, it is clear that the project will be focusing more on scalability and speed, rather than censorship resistance.
For those that might be unaware, Tezos is a smart contract platform that many have compared to Ethereum. The project is marketed as a blockchain that can “evolve by upgrading itself”, meaning that stakeholders can actually vote on protocol amendments. The idea is that Tezos will become a platform to create decentralized applications, hence the Ethereum comparisons.
While it might not have the same exposure as other coins out there, it maintains a sizeable market capitalization of around $220 million as of press time. It is ranked #23 in the world in terms of cryptocurrency market capitalization as well.
The Marigold Announcement
The announcement of Marigold occurred on February 4 in a Medium blog post. Marigold was based on Plasma, which is a concept set forth by Ethereum co-founder Vitalik Buterin and Joseph Poon.
The main idea behind Plasma is to increase the scalability and usability of blockchain so that it can handle any operation, specifically to a significant amount of “updates per second (potentially billions) enabling the blockchain to be able to represent a significant amount of decentralized financial applications worldwide”.