Overview

 Tezos is an open-source platform for assets and applications which is backed by a global community of builders, researchers and validators and addressing barriers facing blockchain adoption to date stating long-term upgradability, smart contract safety, and open participation.

Tezos is a decentralized blockchain governing own-self by establishing a digital commonwealth. It provides formal verification which is a technique that mathematically proves the correctness of code governing transactions and boosting the security of the sensitive or financially weighted smart contracts.

Tezos fundamentally takes a different approach for governance by making rules for governing stakeholders to approve upgrades on a protocol that are automatically deployed on the network. When a developer suggests an upgrade on a protocol, they can attach an invoice that is to be paid out to their addresses on approval and inclusion of the upgrade. The approach facilitates an incentive that is strong for participation in the Tezos core development and later decentralizes the network’s maintenance. The token is compensated for by the developers that have immediate value rather than forcing them to seek foundation salaries, corporate sponsorships or work for Internet fame alone.