Wednesday, April 22, 2020
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Tezos is a cryptocurrency Coin. Can be bought at exchangs and from other people. The current price is $1.97.
Developed by ex-Morgan Stanley analyst Arthur Breitman. Tezos (XTZ) is a multi-purpose platform that supports dApps and smart contracts. It aims to combine a self-correcting protocol and on-chain governance to manage network modifications.
Tezos is powered by XTZ, which is created through 'baking'. Bakers put up deposits and are rewarded for signing and publishing blocks. Witnesses then validate the blocks. Dishonest bakers lose their XTZ deposits. Tezos uses delegated proof-of-stake (DPoS) and supports Turing complete smart contracts. Tezos is implemented in the OCaml programming language, which is said to offer 'functional, imperative, and object-oriented styles'.
Tezos is designed to provide the safety and code correctness required for assets and other high value use cases. Its native smart contract language, Michelson, facilitates formal verification, a methodology commonly used in mission-critical environments such as the aerospace, nuclear, and semiconductor industries.
Tezos' modular architecture and formal upgrade mechanism allow the network to propose and adopt new technological innovations smoothly as they emerge. These aspects, combined with Tezos' on-chain invoicing mechanism, enable the protocol to remain the state-of-the-art long into the future -- without sacrificing community consensus.
In Tezos, all stakeholders may participate in network upgrades by evaluating, proposing, or approving amendments. Unlike in Proof-of-Work and other Proof-of-Stake networks, all stakeholders can help to secure the network (via baking or delegating), and avoid being diluted by inflation.