Discover more from NFTBUZZ ✦
What Is Tezos
Tezos is a decentralized, open-source blockchain platform that was first launched in 2018. It was developed by a team led by Arthur Breitman, a former hedge fund manager, and his wife, Kathleen Breitman.
One of the main features of Tezos is its focus on governance. Unlike other blockchain platforms, which often rely on a small group of developers or a foundation to make decisions about the direction of the project, Tezos has a built-in mechanism for community-driven governance. This means that users of the Tezos network can participate in the decision-making process by voting on proposed changes to the protocol.
Another key feature of Tezos is its use of a proof-of-stake consensus mechanism. This means that instead of miners competing to solve cryptographic puzzles in order to validate transactions and add new blocks to the chain, users can "stake" their XTZ (the native token of the Tezos platform) to participate in the consensus process. This process is designed to be more energy-efficient than proof-of-work mechanisms, like the one used by Bitcoin.
In addition to its governance and consensus mechanisms, Tezos also offers smart contract functionality, which allows developers to build decentralized applications (dApps) on the platform. These dApps can be used for a wide range of purposes, such as decentralized finance (DeFi) applications, supply chain management, and more.
Overall, Tezos is a promising blockchain platform that aims to provide a more decentralized and democratic alternative to existing networks. Its focus on governance and energy-efficient consensus make it an interesting option for developers and users alike.