Review on Tezos by francis fernandez
community integrated to blockchain technology
TEZOS is a blockchain that serves as a base platform for the development of decentralized applications and smart contracts, thanks to its open source protocol.
One of the characteristics of TEZOS is the support of the community of collaborators and experts who have access to its platform, thanks to its open code.
TEZOS, in addition to serving as a base platform for the creation of digital assets and Apps, has its own currency called XTZ.
What is the technology used by Tezos?
TEZOS uses a POS consensus protocol; in which the participating nodes must make a deposit to join the consensus.
The Bakers are the block-making participants; they bring the power of their computers to the network to verify operations and obtain a reward of 16 XTZ for each validated block.
The condition to be a Baker is to have at least 1 "roll" equivalent to 8000 XTZ. The greater the number of rolls in the possession of the participant, the more possibility they will have of being elected for the process of validation of blocks or consensus.
What profits does TEZOS provide?
One of the main features of TEZOS is the possibility it offers to create smart contracts from its blockchain. This is achieved thanks to the Michelson programming language, capable of carrying out a formal validation process; that allow the network to adapt to technological innovations without setbacks.
Due to its open participation protocol, all stakeholders can contribute to the protection of the network by approving or proposing amendments.
How do you get XTZ coin?
XTZ the native currency of TEZOS is not mineable. This is because your Proof of Stake protocol is not supported for mining.
The XTZ coin can be purchased at some exchanges such as: Bitfinex, Huobi, Kraken, BitMax, among others.
Pros
- TEZOS makes available to its users and developers a tool for the creation of smart contracts and decentralized applications.
- It has a team of experts and users who are part of its participatory community in the growth of the network.
Cons
- TEZOS native currency cannot be mined, as it employs an unsupported Proof of Stake protocol to perform this function.
