Woofun AI reports that Aztec has finalized the code development for its v5 protocol upgrade, initiating the transition to the governance proposal stage. Described as the most significant update since the Alpha Network launch, the upgrade incorporates 13 AZIPs addressing block construction, proof efficiency, penalty mechanisms, privacy protection, and node APIs.

The deployment procedure mirrors the v4 process: any entity may deploy the new contract, followed by a sequencer confirmation signal. Token holders will then vote via governance, after which the upgrade activates following a set delay. Node operators are permitted to deploy v5 nodes in advance, maintaining them in standby mode until automatic activation upon completion.