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L.M. Goodman introduced Tezos in 2014, a blockchain network with a distinctive self-amending ledger feature. It is designed to evolve by upgrading itself through a decentralised voting process, without the need for hard forks. Tezos incorporates a proof-of-stake consensus mechanism and supports Turing-complete smart contracts, providing a secure and future-proof platform. Its native token is known as a tez or tezzie (XTZ) and is used to facilitate network operations like smart contract execution and voting on protocol proposals. The network’s flexibility lies in its formalised governance model and the ability for stakeholders to directly influence the development path of the protocol, fostering a collaborative and progressive ecosystem.
