What is Tezos?
Tezos is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps).
It was created by Arthur Breitman and Kathleen Breitman in 2014. Tezos is designed to be a self-amending cryptographic ledger, meaning that it can automatically upgrade itself without the need for a hard fork. This allows for faster development cycles and improved scalability.
Tezos uses a delegated proof-of-stake consensus mechanism, which allows token holders to vote on proposed protocol upgrades. This ensures that all stakeholders have a say in the future of the network. The native token of Tezos is XTZ, which is used to pay transaction fees and reward validators for their work.
Tezos also features formal verification, which allows developers to mathematically prove the correctness of their code before it is deployed on the network. This helps reduce bugs and security vulnerabilities in smart contracts and dApps built on Tezos. Additionally, Tezos has an on-chain governance system that allows stakeholders to vote on proposed protocol upgrades without having to hard fork the network.
