The French blockchain: As with many other blockchains, Tezos is an open-source platform for deploying decentralized applications and assets. Launched in 2018, it was created by Frenchmen Arthur Breitman and Kathleen Breitman. Tezos differs from other cryptocurrencies and blockchain platforms in its consensus mechanism, governance and ability to facilitate smart contracts.

Features:

Tezos' native cryptocurrency is called "XTZ" or "Tez." It is used for transactions, payment of network fees, and compensation for participants who secure and maintain the network.

Here are some of the features of Tezos:

  • Consensus mechanism: Tezos uses a consensus mechanism called Liquid Proof-of-Stake (LPoS). This system allows XTZ holders to participate in the block validation process and receive rewards based on their participation.

  • Governance: Tezos has a decentralized and self-adapting governance model, which allows XTZ holders to propose, vote and implement changes to the protocol. This approach promotes the evolution and update of the network without the need for hard forks.

  • Smart contracts: Tezos enables the development and deployment of smart contracts, similar to Ethereum. The platform uses a programming language called Michelson, which is designed to facilitate formal verification, a process for mathematically proving the validity and security of a contract.

  • Security and scalability: Tezos aims to provide a high level of security and scalability to support a wide range of decentralized applications (dApps).

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