Tezos Launches instant XTZ Withdrawals via Etherlink
Tezos has introduced a game-changing feature for its Etherlink Layer 2. Users can now withdraw Tez (XTZ) tokens in just one minute. This is a massive betterment over the usual 15-day wait.
The new system uses a native liquidity bridge and smart contracts. It removes the need for long withdrawal periods. This innovation makes Tezos more user-friendly. The update was announced on June 27. It streamlines the withdrawal process for XTZ tokens.
Previously, users faced a 15-day wait for withdrawals. Now, they can do it in minutes. The change is part of Tezos’ commitment to enhancing user experiance. It leverages a built-in liquidity solution. This eliminates the need for third-party bridges. Users pay a small fee for fast transactions. Liquidity providers cover the withdrawal process.
Tezos’ solution is unique. It uses a decentralized liquidity pool. When a user requests a fast withdrawal, liquidity providers on Tezos Layer 1 send the Tez immediately. They deduct a small fee. Providers are reimbursed after the 15-day challenge period ends. Smart contracts manage the entire process, ensuring no middlemen are involved.
This upgrade is a significant step for Layer 2 architecture. It shows that slow withdrawals are not an unavoidable issue. Traders can now avoid locked capital during market volatility. The EVM compatibility of Etherlink also allows Ethereum developers to port their dApps without facing scaling issues.This makes Tezos an attractive alternative for projects frustrated with Ethereum’s Layer 2 bottlenecks.
For more details, visit the Tezos website.
