Tezos

Tezos' is a blockchain project that aims to offer "the world’s first 'self-amending' cryptocurrency".

Its 2017 initial coin offering raised $232 million, the largest for such an offering to that date. The project experienced a management controversy over the use of raised funds that was described by a July 2018 Wired cover story as "the crypto world's biggest scandal" after its resolution.

Tezos launched a Betanet on June 30th 2018 which became Mainnet on September 17th 2018.

Design

Tezos is a generic and self-amending crypto-ledger which can instantiate any blockchain based ledger. The operations of a regular blockchain are implemented as a purely functional module abstracted into a shell responsible for network operations.

Bitcoin, Ethereum, Cryptonote, etc. can all be represented within Tezos by implementing the proper interface to the network layer. Most importantly, Tezos supports meta upgrades: the protocols can evolve by amending their own code. To achieve this, Tezos begins with a seed protocol defining a procedure for stakeholders to approve amendments to the protocol, including amendments to the voting procedure itself. This is not unlike philosopher Peter Suber’s Nomic, a game built around a fully introspective set of rules.

In addition, Tezos’s seed protocol is based on a pure proof-of-stake system and supports Turing complete smart contracts. Its proof-of-stake approach is novel, because the validator pool grows organically with the growth of the network. It has therefore been called "liquid" proof-of-stake by some. Tezos is implemented in OCaml, a powerful functional programming language offering speed, an unambiguous syntax and semantics, and an ecosystem making Tezos a good candidate for formal proofs of correctness.

See also

• List of highest funded crowdfunding projects

External links

• Tezos Foundation
• TzScan.io, The Tezos Block Explorer
• Blockchain Explorer