Tezos (XTZ)
Tezos is an innovative blockchain and open-source platform designed for the development of assets and applications. It stands out for its emphasis on code security, on-chain governance, and decentralization. As the platform evolves into Tezos 2.0, it aims to enhance scalability through layer 2 solutions, improve composability, and support mainstream programming languages such as Javascript, Typescript, and Python.
History of Tezos
Tezos was first proposed in 2014 by Arthur and Kathleen Breitman, who published a white paper under the pseudonym L.M. Goodman. This pseudonym was a nod to Satoshi Nakamoto, the mysterious creator of Bitcoin, and referenced a journalist who had mistakenly identified Nakamoto. The Breitmans' work highlighted several perceived limitations of Bitcoin, such as the lack of a community-driven governance process, issues of centralization in its proof-of-work system, and the limited capabilities of its programming language.
| Ticker | XTZ |
| Category | Smart Contract Platform |
| Website | https://www.tezos.com/ |
| @tezos | |
| https://www.reddit.com/r/tezos |
In 2018, the Tezos Mainnet was launched, marking the transition from concept to operational platform. Since its launch, Tezos has maintained an uninterrupted record of operation, earning recognition for its technical excellence and fostering a strong community.
How Tezos works
Consensus mechanism
Tezos employs a consensus mechanism known as Liquid Proof-of-Stake (LPoS). This system allows any stakeholder to participate in the network's consensus process, either directly or through delegation. Participants are rewarded for securing the network, which promotes inclusivity and broad participation.
On-chain governance
A distinctive feature of Tezos is its on-chain governance system, which empowers stakeholders to propose and vote on protocol upgrades. This system enables Tezos to self-amend and upgrade without causing a split or fork in the blockchain. By integrating governance into the blockchain itself, Tezos facilitates continuous innovation and community empowerment.
Formal verification
Tezos was built with formal verification in mind. This approach allows developers to mathematically prove the correctness of smart contracts, minimizing bugs and ensuring a high degree of security. As a result, Tezos is particularly well-suited for applications that demand reliability and certainty.