Tezos is a self-amending Layer 1 blockchain launched in 2018 following one of the largest initial coin offerings in blockchain history at the time, raising approximately 232 million US dollars. It was developed by Arthur and Kathleen Breitman and is governed by the Tezos Foundation. The protocol’s defining characteristic is its on-chain governance and upgrade mechanism: protocol amendments are proposed, voted on, and tested by bakers\u2014the network’s validators\u2014before being automatically applied to the live chain without requiring a hard fork. This design aims to allow Tezos to evolve technically while maintaining network unity and avoiding the contentious splits that have affected other blockchain communities.<\/p>\n
XTZ is the native token used for staking, governance participation, and transaction fees on Tezos. The network uses a liquid proof-of-stake model in which any XTZ holder can delegate tokens to a baker without losing custody, enabling small holders to participate in staking rewards. Tezos has undergone numerous on-chain protocol upgrades since launch, incrementally adding features including smart contract improvements, optimistic rollup support, and enhancements to its Michelson programming language. The network has pursued adoption in the digital art and NFT market, particularly in France and the broader European cultural sector, and has maintained a presence in institutional blockchain pilot programmes.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tezos is a self-amending Layer 1 blockchain launched in 2018 following one of the largest initial coin offerings in blockchain history at the time, raising approximately 232 million US dollars. It was developed by Arthur and Kathleen Breitman and is governed by the Tezos Foundation. The protocol’s defining characteristic is its on-chain governance and upgrade \u2026<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"tmp_coingecko_id":"tezos","tmp_symbol":"XTZ","tmp_rank":0,"tmp_chain":"","tmp_ticker":"","tmp_pair":"","tmp_yahoo_symbol":"","tmp_faq":"[{\"q\":\"What is self-amendment and why does Tezos use it?\",\"a\":\"Self-amendment is the process by which Tezos can upgrade its own protocol through a structured on-chain vote among its validator community, without triggering a hard fork. Proposals are submitted, voted on in multiple stages, and tested on a trial network before adoption. The goal is to allow continuous technical evolution while avoiding the community splits and competing chains that uncoordinated hard forks can produce.\"},{\"q\":\"What is baking on Tezos?\",\"a\":\"Baking is the Tezos term for block production and validation, analogous to mining or staking in other networks. Bakers lock XTZ as a security deposit and are selected to create and attest to new blocks proportionally to their stake. They earn XTZ rewards for honest participation. Smaller holders can delegate XTZ to a baker to receive a share of rewards without running their own node.\"},{\"q\":\"How many times has Tezos upgraded its protocol?\",\"a\":\"Since its 2018 mainnet launch, Tezos has completed more than a dozen protocol upgrades through its on-chain governance process. Each upgrade has been named after a city and has introduced improvements ranging from consensus efficiency and smart contract functionality to layer-2 solutions and developer tooling. The frequency and smooth execution of these upgrades is often cited as evidence of the self-amendment mechanism functioning as designed.\"},{\"q\":\"What risks should XTZ holders be aware of?\",\"a\":\"Tezos launched following significant legal disputes between its founders and the Tezos Foundation, which were eventually settled but drew prolonged regulatory and reputational attention. The network competes with larger smart-contract platforms that have substantially greater developer activity and ecosystem size. XTZ inflation from staking rewards dilutes non-staking holders. Price performance has lagged many peers over multi-year periods, and there is no guarantee of future adoption growth.\"}]"},"class_list":["post-1000209","coin","type-coin","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/dev.themarketperiodical.com\/ru\/wp-json\/wp\/v2\/coin\/1000209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.themarketperiodical.com\/ru\/wp-json\/wp\/v2\/coin"}],"about":[{"href":"https:\/\/dev.themarketperiodical.com\/ru\/wp-json\/wp\/v2\/types\/coin"}],"wp:attachment":[{"href":"https:\/\/dev.themarketperiodical.com\/ru\/wp-json\/wp\/v2\/media?parent=1000209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}