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What is Tezos?

Tezos is a Turing-complete blockchain protocol that powers smart contracts and decentralized applications. Tezos works a delegated proof-of-stake consensus mechanism, whereby stakeholders of tezzies vote on changes made to the protocol.

This on-chain governance mechanism is intended to cut down the risk of contentious hard forks and chain splits. Delegates on the network are needed to stake a minimum of 10,000 tezzies and are randomly chosen to sign and publish new blocks for a cycle of 4,096 blocks (roughly three days).

What makes Tezos different and a strong competitor to Ethereum?

At present, Ethereum is a smart contracts platform built on top of a Proof of Work (PoW) consensus blockchain. There are facing some negatives to this: ● ● ● ●

Proof of Work (PoW) is more expensive Ethereum transactions per second (tps) is very slow with only 15 tps Smart contracts cannot be formally verified Smart contracts are built in Solidity and don’t lend themselves to formal verification ● Primary changes to the blockchain are handled through hard forking, which can lead to huge problems in the community and disrupt the network effects that are formed over time.

Ethereum vs Tezos: Proof of Stake (PoS): Unlike Ethereum, Tezos uses PoS where holders provide the necessary computational resources to keep the network running. This is low cost related to PoW and unlike other PoS protocols, any stakeholder can strive in the consensus process and be rewarded for contributing to the security and stability of the network.

Delegation: A security deposit is needed to participate in the consensus process. The consensus process builds on an honest majority for its security and thus will penalize any dishonest participants to the point of losing their deposit. But, will be rewarding to honest behavior.

Ethereum vs Tezos: Tezos, on the other hand, implements many features that establish unity and validity across the network driving incentives to hold Tezos (XTZ).

Including: Self-amendment: Allowing the network to upgrade itself over time without having to hard fork and cause a divide in the community, alter stakeholder incentives and disrupt the network effects that are formed over time.

On-Chain governance: Where stakeholders in Tezos can participate in the governing protocol, Enabling for a formal and systematic procedure for stakeholders to reach agreement on proposed protocol amendments.

Ethereum Vs Tezos: Decentralized Innovation: Proposed amendments to the protocol by stakeholders will include payments to groups or single person to improve the protocol, help innovation and decentralizing the maintenance of the network.

Smart contracts & Formal verification: Tezos provides a platform to create smart contracts and build Dapps that cannot be censored or shut down. Unlike Ethereum, Tezos help formal verification to prove the validity of smart contracts.

Why Tezos is No:1 in Dapp & Smart Contract Development? ● ● ● ● ● ● ●

Self-amending cryptographic ledger On-chain governance Facilitates Formal Verification Performance (High TPS) High Scalability High-performance Storage Delegated Proof of Stake & more...

Huge ROI for Finance & Education - Tezos Tezos focused industries are Finance & Education by developing the dapp with highquality stable features it makes better and user-friendly. Also, Tezos most probably gives business entrepreneur fair results. Which giving winning results for finance and education, users will be screwed up to use more and get a lot more rewards too.

How To Build Dapp on Tezos Blockchain?

Do you want to know how build your own dapp on tezos blockchain network? Take a look here!

Tezos Dapp Development Having massive experience and technical skills on Blockchain & Dapp Development, Developcoins has become expertise on Tezos Network, since its launch. We have huge resource and energy to develop Tezos DApps as per our worldwide customer’s requirement and our dedicated dapp developers are skilled at completing the project within the specified time.

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