#Tezos (#XTZ ) was started to be developed by a group of software developers led by Arthur and Kathleen Breitman, and a successful campaign raised $232 million in funding in 2017. Tezos Foundation manages the collected fund and it is aimed for Tezos token users to have a greater say in management.
Tezos aims to establish a self-governing digital society by creating a decentralized blockchain network. This community, coming together with Tezos (XTZ) tokens, develops the platform and makes decisions in line with their common interests.
Tezos, a smart contract platform such as #Ethereum , allows changes to be made. However, the necessary regulations are not made by hard forking, but by the decisions of the digital community. Developers notify the Tezos digital community of the improvements they need, and the community shows its support by paying the developer with XTZ tokens. The development processes that receive the most support are carried out and awards are given to software developers.
This reward system provides incentives for development and ensures that improvements are made in line with the needs of the society. Tezos aims to create a more democratic #blockchain network with its decentralized management model and the participation of its digital community.
Tezos (XTZ) is a blockchain system that stands out as a smart contract platform. Unlike other blockchain systems, Tezos allows project developments to be made with the approval of the digital community and developments can be made when necessary.
Thanks to these features, Tezos aims to have a more sustainable network structure by preventing hard forks. Especially in blockchain systems such as Bitcoin and Ethereum, hard forks may occur if those who want to develop the system cannot reach a consensus.
On the Tezos (XTZ) platform, developments deemed necessary are determined by software developers and submitted to the vote of the Tezos digital community. The Tezos community donates Tezos (XTZ) tokens for the needed developments, and the project of the software developer who collects the highest donations is implemented.
While the developments requested by the Tezos community are made, software developers are also rewarded and have a closer relationship with the society. This innovative approach of Tezos is seen as an important step for blockchain technology.
This article is for informational purposes only and is not a recommendation for personal investment decisions.
