What is tezos
- 2. Introduction Blockchain technology is booming up the digital world in recent days. This paved a way for creating separate blockchain network for various industries like music, games, etc. There evolved blockchain networks such as Ethereum, EOS, TRON, Steller, Waves, etc till date. Tezos has been added up next in the list of the blockchain network, but tezos will not be just one among them. Let's have a look at why tezos creating a huge hype in blockchain industry? what is the specialty of tezos? and what if the tezos blockchain has been implemented in real time applications?
- 3. Tezos Tezos is a blockchain network similar to Ethereum for developing and deploying smart contracts and decentralized applications. Tezos is the first self-evolving blockchain in the globe. Tezos is a P2P, distributed, and permissionless blockchain network aiming to make a few notable improvements and innovations in the blockchain.
- 4. History of Tezos Tezos was started developing in early 2014 but has its first launch in 2018. Founders: Arthur Breitman & Kathleen Breitman Founded Year: September 2018 Headquarters: Switzerland Fund Raised in 1st ICO: $232 million Tezos-founding company is named Dynamic Ledger Solutions ( DLS )
- 5. Difference between Tezos and Ethereum 1. The smart contract language of the Tezos blockchain is Michelson whereas the smart contract language of Ethereum is Ethereum Virtual Machine (EVM ). 2. Both EVM and Michelson are stack-based programming language which works by mutating a sequence of data elements to some sequence of instructions. The main difference between Michelson and EVM are 1. Michelson is written in a human-legible text format and EVM operates as bytes. 2. Michelson data elements are typed but it is not the same in EVM.
- 6. Tezos Architecture 1. Network Layer: This protocols hold the responsibility of peer listening and broadcasting it between its nodes, simply known as gossip protocol. 2. Transaction Layer: This transaction protocol defines the accounting model that is being implemented by the blockchain network. 3. Consensus Layer: This protocol helps blockchain reach agreements on the state of transactions, which is pretty self-explanatory. In Tezos, the network shell provides communication between the network layer and the blockchain layer. Blockchain Layer is nothing but the combination of transaction and consensus layer of tezos.
- 7. Working of Tezos To understands the working of tezos , we must know about the utility of special characteristics of Tezos. 1. On-Chain Governance 2.The liquid Proof-of-Stake consensus mechanism 3.Smart contracts with verifications Get a detailed description about working of tezos at : What Is Tezos Blockchain ? How It Works ?
- 8. Tezos - Holding the future of Blockchain Tezos is introduced with the aim of providing a better space for cryptocurrency, decentralization and smart contracts. Thus introduces as a self-evolving blockchain tezos plays a better role in the cryptocurrency globe. Tezos team works for the better delivery of all the aspects and projects on their network. Let us hope for more development of smart contracts and decentralized applications on tezos blockchain network. Bitdeal provides Blockchain Consultation service through which you can connect their team of blockchain experts to know the potential about various blockchain networks.