#show-card ## Project Overview [[Tezos]] is an open-source, decentralized blockchain network that can evolve by upgrading itself through a formal on-chain governance mechanism. It aims to offer security and correctness for [[Smart contract|smart contracts]] and decentralized applications ([[DApp|dApps]]). Its native cryptocurrency is tez (XTZ). The core purpose of Tezos is to create a blockchain that can be upgraded without the need for [[Hard fork|hard forks]], which can divide a community. Key features include its self-amendment process, Liquid Proof-of-Stake (LPoS) [[Consensus|consensus]], formal verification for smart contracts (using Michelson language), and a strong focus on community governance. For more information, visit the [official Tezos website](https://tezos.com/). ## Technical Details - **Underlying Technology:** Tezos employs a Liquid Proof-of-Stake (LPoS) consensus mechanism. Token holders can delegate their [[Staking|staking]] rights to "bakers" ([[Validator|validators]]) without transferring ownership of their tokens. - **Architecture Overview:** Tezos has a modular architecture consisting of a network shell (handling peer-to-peer communication, consensus) and a protocol (defining the transaction types, governance mechanism). The protocol can be amended by token holder votes. - **Unique Selling Points:** - **Self-Amendment:** Tezos can upgrade its own protocol through a formal, on-chain voting process, allowing it to evolve and adopt new technologies without hard forks. - **On-Chain Governance:** Token holders have direct control over the network's evolution. - **Formal Verification:** The smart contract language, Michelson, is designed to facilitate formal verification, enhancing security for complex dApps. - **Secure and Scalable:** Designed for high-value financial applications and other use cases requiring robust security. ## Use Cases - **[[Decentralized finance|Decentralized Finance]] ([[DeFI|DeFi]]):** Tezos hosts various DeFi applications, including decentralized exchanges, lending platforms, and [[Stablecoin|stablecoins]]. - **[[NFT|NFTs]] and Digital Collectibles:** A growing ecosystem for artists and creators to mint and trade NFTs, with a focus on art and collectibles. - **Institutional Use Cases:** Its security features and formal verification capabilities make it attractive for institutional applications, including tokenized assets and regulated financial products. - **Voting and Governance Solutions:** The on-chain governance mechanism itself serves as a use case for decentralized decision-making. ## Getting Started - **How to use/access:** Users can interact with Tezos using wallets like Kukai [[Wallet]], Temple Wallet, or [[Hardware wallet|hardware wallets]]. XTZ can be acquired from major exchanges. - **Official Resources:** - Website: [Tezos.com](https://tezos.com/) - Developer Portal: [Tezos Developer Portal](https://tezos.com/developers/) - Tezos Foundation: [Tezos Foundation](https://tezos.foundation/) - [[Block]] Explorer: [TzKT.io](https://tzkt.io/), [explore.tezos.com](https://explore.tezos.com/) - **Community Channels:** Tezos has an active global community on platforms like Reddit (r/tezos), Tezos Agora (governance forum), Discord, and Telegram. ## Related Links (Optional) - [[Proof of stake]] - Smart contract - [[Onchain governance]]