What are some of the challenges facing the development of the project right now?
One of the biggest challenges facing the development of the Tezos project is scalability.
The Tezos blockchain is currently limited to a maximum of 30 transactions per second, which is far lower than other major blockchains such as Ethereum and Bitcoin. This means that it can be difficult for Tezos to handle large amounts of transactions, which could limit its potential use cases. Another challenge facing the development of Tezos is its governance model.
The Tezos blockchain uses a delegated proof-of-stake consensus mechanism, which requires users to stake their tokens in order to participate in the network and vote on proposed changes. This can be difficult for users who are not familiar with the system, and it can also lead to centralization if a small group of users holds a majority of tokens. Finally, there are also challenges related to adoption and usability.
While Tezos has some interesting features such as smart contracts and on-chain governance, these features are not yet widely used or understood by most users. This means that there is still work to be done in order to make Tezos more accessible and user-friendly for mainstream adoption.
