Review Date: November 20, 2019 17:58:52
Tezos is a platform for building Dapps which uses what they call “Liquid Proof of Stake (LPOS)”, which could also be considered “Optional Delegated Proof of Stake”. (Optional being the opposite of “Mandatory” POS like on EOS). Meaning, you can be a block producer (baker) or, if you don't have enough XTZ to “bake” blocks, you can stake your XTZ to a baker and earn a percentage of the rewards from that baker. Tezos’ key strength is in flexible governance for upgrading the protocol over time. Their LPOS means that anyone holding XTZ can participate in the governance structure. It is also built in such a way that forks are extremely unlikely to occur. As a consequence of no forks, this makes Tezos good for tokenized asset issuance. Other features include: no finality for transactions, unlimited supply, and it’s tradeable on CoinbasePro, which essentially means that it’s not a security. Tezos is interesting because governance and adaptability is built into the protocol. This allows it to change over time, which is something many other blockchains struggle with. This also means that it’s not governed by a small group of people or block producers. Huge ICO and legal battles with SEC. But they made it through and have a mainnet. Very good resources and explanations on their site. Their open governance makes it less scammy and more likely to be around for the long-haul than other similar projects.