Ankit Kumar Singh
Nov 11, 2018 · 3 min read

Overview

Tezos is a self amending blockchain protocol that evolves by upgrading itself. Token holders vote on amendments to the protocol, including amendments to the voting procedure itself, to reach social consensus on proposals.

Along with this, Tezos also supports smart contracts and offers a platform to build decentralized applications to developers.

How Tezos Works

Written in OCaml due to its enhanced security and flexibility, Tezos also enables developers to build smart contracts on its platform using Michelson, a new programming language.

In Tezos, developers are able to independently submit proposals for protocol upgrades wherein they include a request for compensation for their work. Tezos token holders can then vote on whether the proposal should be approved. Adding this compensation structure provides incentives for developers to continue improving upon Tezos rather than having to work for free, relying on donations, or being sponsored by a centralized entity. This innovative structure is intended to enable Tezos to support independent developers that contribute to the protocol over time.

Along with this, Tezos introduces Delegate Proof of Stake, through which Tezos token holders can delegate someone else to validate on their behalf if they do not wish to participate in staking directly.

Tezos refers to this staking process as “baking”. In this blockchain model, bakers commit deposits and are rewarded for signing and publishing blocks.

XTZ Token

XTZ is a governance token used by stakeholders to vote for and implement governance in the blockchain. The total supply of XTZ tokens is 763 Million.

XTZ Token Sale

At its time, XTZ Token Sale was the largest till date raising more than $232 Million Dollars with 65,681 BTC and 361,122 ETH.

Important Statistics about XZT Token (As of 11–11–2018)

Market Volume (24H): $2,514,969 USD
Market Capitalization: $795,013,608 USD
Circulating Supply: 607,489,041 XTZ

Tezos Community Grants

Tezos has announced Community Grants, a funding initiative created by the Tezos Commons Foundation, with the aim to offer funding to projects that contribute and build on the Tezos ecosystem.

It will be used for these primary purposes:-

  • Fund Tezos social gatherings, meetups and events.
  • Generate interest in the blockchain and Tezos development community.
  • Build a wide array of Tezos educational materials to make available at no cost.
  • Provide community developers funds for the completion of community-based tools and projects.

Team

Kathleen Breitman is the CEO of Tezos, a blockchain-based smart contract platform with an on-chain governance mechanism to coordinate and push upgrades to its network. Prior to Tezos, Kathleen was a senior strategy associate for R3, a blockchain consortium of more than 70 financial firms. She has also worked at Accenture, Bridgewater Associates, and the Wall Street Journal. She holds a degree from Cornell University.

Arthur Breitman is the CTO of Tezos, a blockchain-based smart contract platform with an on-chain governance mechanism to coordinate and push upgrades to its network. Before Tezos, he worked as a quantitative analyst at Goldman Sachs and Morgan Stanley.

Recent Blog Post

Important Links

You can find the Tezos Whitepaper here.


The Crypto Almanac is a directory of Blockchain Projects’ Profiles curated by Ankit Kumar Singh.

He is the Founder of ELI5 Labs, a blockchain startup studio. Along with this, he also manages Product Marketing at Prism Labs, a Y Combinator (S17) Company. You can follow him on Twitter here.

The Crypto Almanac

An Open Source Directory of Blockchain Projects

Ankit Kumar Singh

Written by

20, Core Team @prism_io (YC S17)

The Crypto Almanac

An Open Source Directory of Blockchain Projects

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