Review on Tezos by Gabriel Medina
Innovative, versatile and with a great philosophy
Decentralized development has gradually become a fundamental pillar in the world of cryptocurrencies. Therefore, projects with ecosystems designed to create new decentralized applications have originated. Tezos is one of these platforms and gives the holders of its XTZ cryptocurrency power of control.
What is it and what is it for?
This company has the objective of developing applications with blockchain technology, and has launched an innovative protocol to support its idea. The mechanisms of the nodes must evolve and adapt to the changes democratically by the users. In its official definition, it tells us that it evolves by updating itself and the owners vote for improvements in the protocol. It supports smart contracts and has a platform for creating decentralized applications.
How does it work?
This entire ecosystem is distributed, without the need for permits. One of its most important philosophies is the fact of incorporating two additional concepts to this typical scheme: self-correction and democratization of governance. It is an extremely powerful platform for programming new solutions using concepts such as blockchain and smart contracts. Proposed corrections or amendments accepted by shareholders may include payments to those involved in software improvement. This encourages distributed participation of experts in the development of Tezos. Tezos also allows formal verification. This is a technique that improves security through mathematical tests in programs created with smart contracts, for example. This helps developers test their solutions before they go on the air. To achieve all this, you use a generic shell that allows your network to adapt to changes much more easily than in other more restrictive blockchains.
Final reflection
Tezos is a versatile ecosystem in the niche of decentralized ecosystems. Its self-correcting and adaptive philosophy makes it one of the simplest evolving networks in the industry. It also allows the development of decentralized applications through a powerful system of smart contracts.
๏ปฟ
Pros
- Its blockchain is one of the most versatile and complete in the industry.
- We can develop highly customizable applications and test them through formal verification.
- The network autocorrection technology solutions make it much more malleable than other similar solutions.
- He has managed to overcome adversity, having a good balance in the midst of controversies.
- His philosophy has made many investors interested in buying his cryptocurrency.
Cons
- She has been involved in some controversies, including legal and intellectual property issues.
- It has flaws at a certain organizational level.
- You have left a history of high volatility in your cryptocurrency.
- Reliability issues among investors.
- Lots of competition in the decentralized development niche.
