Tezos is a decentralized blockchain that attempts to create a true digital commonwealth. Like Ethereum, smart contracts are able to be developed and deployed on the Tezos blockchain.
n network Tezos is linked to the digital token XTZ, often called Tez or Tezzie. Tez tokens are not mined, instead token holders receive XTZ by participating in the proof-of-stake (POS) consensus mechanism.
Tezos creates a big incentive users to participate in the core development process. For example, a developer can propose a protocol upgrade and attach an invoice with their address. If their upgrade is accepted by the network, they will be reimbursed the amount stated in the invoice.
Despite being one of the biggest ICOs with over $232 million raised in July 2017, legal issues postponed the platform’s launch. However, since July 2018, the betanet has been launched successfully , putting Tezos back on track for great things to come.
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