Description
Concept
Tezos is a secure, future-proof smart contract system. Because Tezos has a built-in consensus mechanism, its protocol can evolve, and incorporate new innovations over time, without the risk of hard forks splitting the market. Tezos is its own blockchain, not a derivative of any other blockchain. We didn’t just fork Bitcoin or Ethereum and add a layer onto it. We built our own from the ground up. Their smart contract language makes it easier to apply formal verification to any[smart contract running on the Tezos blockchain. This allows developers to rule out weaknesses in code before uploading that code on the blockchain. Tezos relies on a less onerous, less computationally intensive, and less power-consuming proof-of-stake consensus algorithm, where bonded stakeholders validate transactions.
More information in the project whitepaper: https://tezos.com/pdf/position_paper.pdf