Tezos, an up-and-coming blockchain, has launched its mainnet. On Twitter, the Tezos Foundation teased the neighborhood over the weekend relating to the update’s release:
Have a superb weekend, everyone, because mainnet arrives Monday!
— Tezos Foundation September 14, 2019
The update is certainly a formality. A community-authored FAQ, that’s retweeted by CEO Kathleen Breitman, assures users that “basically nothing changes.” The FAQ notes that no bugs were found during Tezos’ betanet phase thinking that tokens will automatically carry over: “all betanet Tezos are real Tezos.”
Although there aren’t many, if any, changes under the hood, the Tezos community expects the mainnet will be Tezos’ big break. The token’s price spiked by over 30% and reached $1.65 yesterday, back up in a value it briefly located in mid-August.
What Makes Tezos Different?
A availablility of features distinguish Tezos of their blockchains. First of all, Tezos is “self-amending,” consequently the blockchain may be upgraded without undergoing a hard fork:
“We want to avoid hard-forks because, being mechanism for introducing innovative but contentious changes, usually to be centralizing. For no reason do it of some weird intrinsic rejection of hard-forks. We value pragmatism.”
Like most recent blockchains, Tezos also offers smart contracts. However, it restricts code to simple logic that may be formally verified. This is relevant because a successful verification process can detect bugs which could otherwise bring about major hacks.
Finally, the woking platform has its own original liquid proof-of-stake consensus mechanism. In some ways, Tezos uses a classical proof-of-stake mechanism like Ethereum soon will. In different ways, Tezos implements delegation like EOS and TRON do. You could do because Tezos makes delegation an option for users as opposed to a core feature.
A Long Journey
Tezos originated as a phenomenally successful ICO in July 2019, but it really has not been hanging around for the project. The work made what is the news when it became a target of lawsuits concerning securities regulations.
Tezos nevertheless survived the talk. Since then, the work has selected a “big four” auditor cooperate with and has given away $30 million property value grants to community developers. Tezos continues to perform well and currently ranks #16 by market cap.
The platform could make major steps forward anytime soon. It was recently reported that co-founder and CEO Kathleen Breitman is entering the recording game market. Obviously will involve other company, Breitman has acknowledged that her project will make use of the blockchain and smart contracts. Little has become revealed, but it seems likely the fact that will be a use case for Tezos.