Tezos XTZ

$1.65
Market Cap $ 999.344 MM (#17)
24h Volume $ 5.363 MM
Chg. 24h: -1.06%
Algo. score 2.8/5  (#658)
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Tezos project purpose and description

Tezos clarity of purpose

Tezos purpose and aspects

Tezos is a new cryptocurrency with two core features - a self-governance system and the ability to form start contracts using its own unique programming language, MICHELSON

Tezos additional differentiation against competition

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Short description

Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.

Abstract

The popularization of Bitcoin, a decentralized, trustless, crypto-currency has inspired the production of several alternative, or \alt", currencies. Ethereum, CryptoNote, and Zerocash all represent unique contributions to the crypto-currency space. Although most alt currencies harbor their own source of innovation, they have no means of adopting the innovations of other currencies which may succeed them. We aim to remedy the po- tential for atrophied evolution in the crypto-currency space by presenting Tezos, a generic and self-amending crypto-ledger. Tezos can instanciate any blockchain based protocol. Its seed protocol speci es a procedure for stakeholders to approve amendments to the proto- col, including amendments to the amendment procedure itself. Upgrades to Tezos are staged through a testing environment to allow stakeholders to recall potentially problematic amendments. The philosophy of Tezos is inspired by Peter Suber's Nomic[1], a game built around a fully introspective set of rules. In this paper, we hope to elucidate the potential bene ts of Tezos, our choice to implement as a proof-of-stake system, and our choice to write it in OCaml.

Link to Roadmap: n/a
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