Tezos

Tezos is a self-amending Layer-1 smart contract blockchain built around on-chain governance and an energy-efficient proof-of-stake consensus model. It’s designed to evolve without disruptive hard forks by allowing stakeholders to propose, vote on, and adopt protocol upgrades directly on-chain, helping the network iterate over time while maintaining continuity for applications and users.

Tezos provides a robust environment for building and deploying decentralized applications, with a strong emphasis on security, formal verification-friendly smart contracts, and flexible participation through delegation (often referred to as “baking” in the Tezos ecosystem). It also supports scalability via rollups that extend throughput while keeping settlement and security anchored to the base layer.

Key features of Tezos include:

• Self-Amending Protocol: Built-in upgrade mechanism that enables protocol evolution through on-chain proposals and voting, reducing reliance on hard forks.

• On-Chain Governance: A structured governance process where token holders and validators participate in deciding and activating network upgrades.

• Proof-of-Stake (Baking & Delegation): An energy-efficient consensus model where participants can validate blocks (“bake”) or delegate stake to validators while retaining custody.

• Smart Contracts with Formal Verification Focus: A contract system designed with correctness and security in mind, including a low-level language suited for rigorous verification.

• Scalability via Rollups: Support for rollup-based execution to increase throughput and enable more complex application workloads while leveraging L1 security.

• Token Utility (XTZ): Used for transaction fees, staking/consensus participation, and governance activities within the network.