What is Tezos?

What is Tezos? Tezos is a platform for smart contracts and decentralized applications. This platform is focused on letting Tezos coin holders to govern the platform. They created a commonwealth where every user is heard. Tezos is a blockchain platform as well as Ethereum, EOS, and NEO. The crucial difference between them is the way they are governed. So called on-chain governance allows Tezos to improve constantly. It helps to avoid radical changes that can lead to hard forks. Another interesting feature is a smart contract programming language. It is called Michelson. It enables formal verification of smart contracts, thus there is a technique that mathematically proves the correctness of the code governing transactions. The language can also continuously change according to the wishes of the community.

Tezos was developed by Arthur Breitman. He studied applied mathematics and computer science in France and then moved to the U.S. to study financial mathematics. Kathleen Breitman, his wife, has also participated in developing this project. She is a former employee of enterprise software firm which focuses on distributed database technology. In 2014 Arthur Breitman published a paper where he stressed Bitcoin’s flaws. And he suggested his solution. It was self-amending cryptocurrency. In 2015 Breitman wanted to attract several banks. But this attempt failed. In 2016 the Breitmans decided to conduct an ICO. Over the half a year they got $612,000. The Tezos ICO was held on July 1st 2017 and lasted for 13 days. Tezos received $232 million.