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 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.
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
A few directions to improve Tezos
In which I outline, for different categories, what seems to me as reasonable, immediate, directions for improving…
Tezos (@tezos) | Twitter
The latest Tweets from Tezos (@tezos). Tezos is a self-amending cryptographic ledger. It achieves consensus not just…
You can find the Tezos Whitepaper here.