Tezos is a new blockchain platform that was founded by a husband and wife duo with extensive Wall Street and in hedge fund backgrounds.
Set to launch on May 22, 2017, the technology is supported by billionaire venture capitalist Tim Draper.
“Over time, I actually feel that some of these tokens are going to improve the world, and I want to make sure that those tokens get promoted as well. I think Tezos is one of those tokens,” Draper has said.
Draper has been one of the most active supporters of Bitcoin and cryptocurrency technology-based ventures.
Blockchain stores the details of every transaction of the digital currency.
Once the transaction has been approved as valid, the block is added to the chain. Blockchain essentially allows consumers and suppliers to connect directly, removing the need for a third party. It also provides a decentralised database or “digital ledger” of transactions that everyone on the network can see. The world’s biggest organisations are looking at the blockchain technology as a means to improve their existing services, systems and products by leveraging its key features: security, transparency, full life-cycle transaction history, real-time, immutability and cost-efficiency.
More about Tezos:
Tezos is similar to Bitcoin and other blockchain platforms, but its design allows for decentralised and automated upgrades.
It was created within 3 years by the founders. The Tezos platform is being created by Dynamic Ledger Solutions Inc.
Token holders will vote on changes to Tezos protocol that they think will lead to the greatest price increases of the Tezos token.
The launch of Tezos will be done using Crowdsales, which are being used by platforms as a form of crowdfundraising where any interested party can buy the tokens in return for the investment made into the platform and reap benefits from its success.