Tezos continuously adds the latest innovation, seamlessly leveling up to deliver novel and new capabilities within the space through its upgrade mechanism. See how far they have come and helped us imagine where Tezos will go in the future.
How Tezos Is Different
One of the distinguishing elements of Tezos is its governance. Most early blockchains rely on development teams and mining communities to formulate new design choices. However, Tezos attempts to build the decision-making process into the network of users itself.
“Tezos takes a fundamentally different approach by creating governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network,” its developers claim. “When a developer proposes a protocol upgrade, they can attach an invoice to be paid out to their address upon approval and inclusion of their upgrade.”
How Does Tezos Work?
Tezos works in many ways in the same manner as other blockchains, but with a key difference. That innovative difference is in how additions and changes are made to the blockchain. It works like this:
A developer proposes some change or upgrade to the Tezos protocol. When doing so they can also attach an invoice to the proposal and if the change is approved by the community and added to the next upgrade they get paid in XTZ tokens. This has two benefits. It encourages developers to participate in Tezos development, and it also decentralizes the maintenance and development of the network.
Institutional Grade Security.
Tezos is designed to provide the safety and code correctness required for assets and other high-value use cases at both the protocol and application layers by leveraging languages OCaml and Michelson, which facilitate formal verification, a practice commonly used in mission-critical industries, spanning from nuclear and aerospace to semiconductor and others.
Governance by the People.
The Tezos platform was built with mechanisms to ensure active community governance and participation. Users can actively participate by evaluating, proposing, or approving amendments to Tezos. This design empowers the type of collaborative innovation that keeps Tezos on the bleeding edge of technology.
An Energy-Efficient Algorithm.
Unlike Proof-of-Work blockchains like Bitcoin or Ethereum, Tezos’ Proof-of-Stake requires significantly less energy and cost to operate, making it an ideal alternative platform for building blockchain applications that are eco-friendly.
Smarter Smart Contracts.
Tezos is one of the leading smart contracts Proof of Stake blockchains. Tezos smart contracts can use formal verification, allowing them to be mathematically verified, reliable, and secure.
Seamlessly, Forklessly, Endlessly Upgradeable.
Tezos is built to adjust, adapt, and add features and functionality through its proven on-chain upgrade mechanism.
Tezos is built to remain state-of-the-art. Its modular architecture and formal upgrade mechanism minimize disruptions while offering regular upgradability and enhanced functionality over time.
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