What does Tezos mean?
Origin and creation of Tezos
Tezos is a blockchainA blockchain is a type of distributed ledger technology. It is a huge database formed by blocks,cryptographically linked to each other, containing information such as transactions. These blocks are addedfollowing operating much like EthereumSecond most important crypto asset by market capitalization. Ethereum blockchain has been launched
in 2015 by Vitalik Buterin, it is also used for other applications such as DeFi and NFTs.. Launched in 2018, its tokenCan be considered as a digital coupon whose unicity can be mathematically proven and being tradable for assets, services, or goods. The concept of token isn’t actually from crypto ecosystem;, XTZ, is known for its flexibility and security.
Tezos was created by Arthur Breitman and his wife Kathleen Breitman. Arthur Breitman wrote the Tezos white paperDefines technological basis of a project, explains its consensus mechanism (algorithm, rewards) and eventually presents its business model or business plan if the crypto asset is a token. It is under the pseudonym “L. M. Goodman” in 2014, and the couple worked together to develop the project and launch the platform. The Swiss-based Tezos Foundation conducted an initial coinCrypto asset having its own blockchain, used as accounting unit, trade intermediary and value storage. offering (ICOAn Initial coin offering is a crypto fundraise in which a crypto asset is created and offered to public investors.The investor therefore takes the risk of selling reference digital assets) in 2017, which was one of the largest of its time, raising around $232 million in contributions.
Key features of Tezos: smart contracts and decentralised applications
Tezos enables the creation of smart contracts, which are automated agreements executed between two or more parties without human intervention. These contracts ensure reliable and secure transactions. The platform also offers decentralised applications (dApps), which are online services that operate without a central intermediary, providing robust alternatives to traditional online services.
Tezos’ innovative governance
The Tezos blockchain is unique in its ability to evolve in a consistent and stable manner. Unlike other blockchains, which can split in the event of disagreement over updates (the forkIt occurs when a community modifies the blockchain protocol or a set of elementary rules. A distinction ismade between hard and soft forks. A hard fork represents the separation of or split phenomenon), Tezos maintains its unity through democracy. Holders of XTZ, the Tezos token, vote to approve changes. In this way, changes are made with the consensusTruth admitted by all system participants. This doesn’t imply that it is the absolute truth or that it’sindisputable, it is the truth participants agree on. In crypto, algorithms beginning with of the community, ensuring continuous and coordinated improvement.
Examples of how Tezos is used
There are many use cases, which evolve over time and through partnerships.
Platforms such as Agora on Tezos enable investors to participate directly in key decisions concerning the management of financial projects. It’s a bit like a company’s shareholders being able to vote online on key decisions, but with the ease and security provided by blockchain technology.
Cryptocurrencies or digital currencies are terms commonly used in the crypto ecosystem. However, the terminology favored by regulators (ACPR and AMF) is crypto-assets or digital assets. This distinction arises because, although often referred to as cryptocurrencies, these assets do not qualify as currencies in the legal sense. They are virtual resources based on blockchain technology, whose value is determined solely by supply and demand.
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