What are the differences between Ethereum and Tezos?
The main differences between Ethereum and Tezos are in their consensus algorithms, governance models, and smart contract languages.
Consensus Algorithm: Ethereum uses a proof-of-work (PoW) consensus algorithm, while Tezos uses a delegated proof-of-stake (DPoS) consensus algorithm. PoW requires miners to solve complex mathematical problems in order to validate transactions and create new blocks on the blockchain. DPoS requires token holders to vote for delegates who will be responsible for validating transactions and creating new blocks on the blockchain.
Governance Model: Ethereum has a decentralized governance model where developers can propose changes to the protocol but they must be approved by the community before they can be implemented. Tezos has an on-chain governance model where stakeholders can vote directly on proposed changes to the protocol without needing approval from the community. Smart Contract Language: Ethereum uses Solidity as its smart contract language, while Tezos uses Michelson as its smart contract language.
Solidity is a high-level programming language designed specifically for writing smart contracts on Ethereum’s blockchain. Michelson is a low-level programming language designed specifically for writing smart contracts on Tezos’s blockchain.
