Tezos

by Tezos
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A blockchain platform for working with smart contracts and creating DApps.

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Tezos description

Tezos (XTZ) is a blockchain network based on smart contracts. Tezos token can’t be obtained by mining, as it operates on Proof-of-Stake (PoS) consensus type. The Tezos blockchain is constantly updated and token holders can vote for changes.

Tezos includes mechanisms for people to manage the platform. Tezos holders can actively participate in platform and community governance through voting and evaluation. The Proof-of-Stake consensus mechanism provides Tezos with a low transaction cost and lower energy consumption, allowing for “green” decentralized apps. Information from catalogue ​CryptoDeFix.

The blockchain platform has good scalability capabilities. Developers can update and add new features to the blockchain without fear that something might happen to it. Tezos smart contracts use formal user verification, making them more reliable, verified, and secure. The platform’s security is ensured through the use of OCaml and Michelson languages, which provide quick search for vulnerabilities in a protocol or application.

Specifics of Tezos

  • Advanced smart contracts
  • Blockchain scalability
  • Use of PoS
  • Human blockchain and community management
  • Low cost of transactions

Tezos features

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Tezos is self amending decentralized dApp platform. Tezos was launched in 2014 but has it's mainnet in 2018. Though this project is similar to ethereum network in nature because the developers can write dapp on it's smart chain as ethereum but what distinguish it is that it doesnt need to fork before amend any protocols, what the system just need is the majority vote from those who supported a certain change. It ensures the necessary supervision of the needs that may arise over time, not through hard forks, but through the decisions of the digital society. The protocol was developed in such a way that most members of the union could easily renew themselves after the vote.

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September 20, 2021