Heavy Lag on 1.16

So yeah, ever since I updated from 1.16 RC1 to 1.16 (now 1.16.1) the server has been lagging a whole lot to the point is unplayable for all my friends. The more people that are connected the more laggy it gets to the point we just close it because we can't even mine a block (we only play a maximum of 3 players at a time) Force Upgrade is also enabled with no good results. Here is the log when I tested how well it ran over an hour of playtime:

https://mclo.gs/3sCIEWi

Thanks for the replies in advance and hope it can be solved!

Thanks! I checked that before posting to avoid creating an unnecessary thread but the issue I'm encountering is more related to the ping on the server itself, as it's shown on the log the server has a lot of ping even before anyone logging in. This was not happening on 1.16 RC1 or older releases on Aternos. Do note that on older releases we either use Snapshots or Vanilla, never used Paper as we were too stupid to actually try it lol.

In case I didn't get my issue across due to my shitty english: my issue is on the internet side of the server, blocks either reappear or are not mined at all after 5 seconds as if we were lagged but the issue is happening to everyone on the server, everyone with different speeds encounter the same issue at the same time, even testing on older version we don't find this amount of lag (1.15.2 being the only one we tested so far with good results).

Oh okay, gotta wait for Paper to come out then. Thanks for the answers!