Tezos is a platform for smart contracts and decentralized applications (dApps) that focuses on network members and enabling them to fully govern the platform and improve the quality of its ecosystem. All interested members can participate in the governance of the protocol by voting on the updates and proposals of the protocol made by the developers.
Tezos’ stated goal is deceptively simple: to create a blockchain that is capable of incorporating improvements without risking a difficult fork that can divide your community. Like Ethereum, Tezos will enable smart contracts and has been designed to be secure and future-proof, with a decentralized, community-driven consensus mechanism. Tezos wants to build a blockchain technology that works better than that of existing leaders like Bitcoin and Ethereum. It has already developed a much less computationally intensive blockchain, which requires less energy from miners, while still maintaining reliable evidence of the PoS consensus mechanism.
The development of the cryptocurrency began in 2014 with Arthur Breitman and Kathleen Breitman, who together with a group of co-developers launched an Initial Coin Offering in that year. With this ICO they manage to raise $ 232 million, the seed capital for the Swiss-based Tezos Foundation. They initially faced problems with the President of the Tezos Foundation, Johann Gevers, for managing the funds but later the coin was successfully launched in 2018.
Tezos has its own programming language called Michelson and is designed to facilitate the creation of smart contracts on the Tezos blockchain. This language consists of demonstrating the accuracy of the code that moves the transactions through mathematical techniques, thus users show their ability to make smart contracts more secure. It has sometimes been used in engineering processes, aircraft design, and nuclear development.
Tezos uses the delegated Proof-of-Stake (DPoS) algorithm to achieve consensus on its platform and allows…