Purpose

Tezos is a blockchain that can evolve by upgrading itself. Stakeholders vote on amendments to the protocol, including amendments to the voting procedure itself, to reach social consensus on proposals. Tezos supports turing-complete smart contracts and offers a platform to build decentralized applications.

Self-amendment allows Tezos to upgrade itself without having to split (“fork”) the network into two different blockchains. This is important as the suggestion or expectation of a fork can divide the community, alter stakeholder incentives, and disrupt the network effects that are formed over time.

 

Strengths

  • Their smart contract language, Michelson, facilitates formal verification.
  • The dPoS consensus mechanism allows users to participate in the staking process without having to lock up their tokens.
  • The XTZ blockchain doesn’t have to go through a hard fork if the token holders decide to change the protocol.

 

Weaknesses

  • Users have to learn a new programming language to build smart contracts on Tezos
  • Poor communication with its userbase/followers

 

Network Status

The betanet was released in June 2018. There is no exact date concerning the release of the mainnet yet.

 

Roadmap

XTZ doesn’t have a clear roadmap.

 

Governance

In Tezos, all stakeholders can participate in governing the protocol. The election cycle provides a formal and systematic procedure for stakeholders to reach agreement on proposed protocol amendments.

Tezos utilizes a delegated Proof-of-Stake consensus mechanism. This means that Tezos token holders can delegate someone else to validate nodes on their behalf if they do not wish to participate in staking directly. In order to validate nodes themselves, users need to stake a minimum of 10,000 XTZ. The reward for staking is approximately 5.5% annually.

 

Similarities

XTZ is similar to Ethereum since they are both smart contract platforms that support Turing complete programming.

 

Notable partnerships

Tezos is partnered with Obsidian Systems, Inria, IMDEA Software Institute and OCaml Labs.

 

Exchange

XTC is traded on Gate.io, HitBTC and Gatecoin.

 

Tezos Stack

XTZ is a blockchain layer.

 

Community

Twitter: 35 866 followers
Reddit: 8,971 subscribers

 

Price history

July-12th-2018: 1.93 USD
June-2018: 5.04 USD
April-2018: 2.81 USD
January-2018: 4.34 USD

 

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations