Secure. Upgradable. Built to last.
Tezos is an open-source platform for assets and applications backed by a global community of validators, researchers, and builders.
Tezos addresses key barriers facing blockchain adoption to date: smart contract safety, long-term upgradability, and open participation.
Tezos is designed to provide the safety and code correctness required for assets and other high value use cases. Its native smart contract language, Michelson, facilitates formal verification, a methodology commonly used in mission-critical environments such as the aerospace, nuclear, and semiconductor industries.
Tezos' modular architecture and formal upgrade mechanism allow the network to propose and adopt new technological innovations smoothly as they emerge. These aspects, combined with Tezos' on-chain invoicing mechanism, enable the protocol to remain the state-of-the-art long into the future -- without sacrificing community consensus.
In Tezos, all stakeholders may participate in network upgrades by evaluating, proposing, or approving amendments. Unlike in Proof-of-Work and other Proof-of-Stake networks, all stakeholders can help to secure the network (via baking or delegating), and avoid being diluted by inflation.
Tezos is a Proof of Stake (PoS) blockchain. Technically, it uses a variant of PoS called Delegated Proof of Stake (DPoS), although the implementation is unique to Tezos.
Participants who hold over 8,000 Tezos can become delegates and run the network through baking and endorsing. Baking means creating new blocks (essentially another word for staking), while endorsing means “agreeing” on a block created by a baker. Alternatively, if a token holder doesn’t have 8,000 XTZ or doesn’t want to set up the required hardware themselves, they can delegate these tasks to someone else.
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