Tezos

The first self-amending cryptographic ledger

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Tezos
cryptoledger

What is Tezos?

Tezos is the first, and only blockchain implementation operating with decentralized governance.

Tezos is a distributed consensus platform with meta-consensus capability. Tezos not only comes to consensus about state, like BTC or ETH. It also comes to consensus about how the protocol and the nodes should adapt and upgrade

One of the biggest and most under-addressed risks in blockchain protocols is that without a governance system and a mechanism to reach consensus on changes, they will either stagnate or veer off.

Tezos has been in active development since summer 2014, when we suggested that cryptographic ledgers suffered from a critical governance problem. Our predictions were sadly born out with the Bitcoin blocksize blunder, and in the attempted bailout of the DAO by the Ethereum foundation. Cryptographic-ledgers need governance by consensus, not by roundtable.

Coin

Tezos is currently undergoing testing and bug fixes to move out of its prototype phase. We are scheduling to release our alpha net in fall 2016.

Smarter
Smart
Contracts

Tezos' unique smart contract language has full formal specification.

This makes Tezos contracts candidates for formal verification, a process which mathematically guarantees the correctness of the code. Such a step is critical given the potentially large amounts at stakes in financial agreements.

Currently, no other smart contract library offers this feature.

Governance
by Consensus (Not Roundtable)

gbc

By implementing voting rights from the start, the ultimate owners of any governance choice or innovation in Tezos will sit at the proverbial table.

The self-interest of Tezos owners will attract a variety of business and transactional innovations to the ledger's fabric.

Though every governance scheme is subject to pitfalls, governance by vested stakeholders is typically a more sustainable practice than oligarchy.

Layered
Ledgers,
Operational
Dynamism

Tezos decomposes the architecture of a cryptographic ledger into three layers:

  • network layer
  • consensus layer
  • transaction layer

By decoupling the three layers, participants can allow the protocol to evolve in a decentralized fashion.

What will people
use Tezos for?


Tezos

With its powerful first class features, Tezos will be attractive as a smart-contract platform. It will permit the development of decentralized applications such as decentralized markets, insurance contracts, crowdfunding platforms, etc.

But Tezos is more than just a tool, it is an organization. Participants will use it in order to take larger scale coordinated action through the issuance of withdrawal of tokens. They will use it to tailor it to their own needs.

Contact

Please check our FAQ first if you have any question, and feel free to submit new ones. If you'd like to get in touch for any other reason, use the form below and we'll get back to you shortly.

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