Tezos’s seed protocol is based on a proof-of-stake system and supports Turing smart contracts. Tezos is implemented in OCaml, a functional programming language offering speed, an unambiguous syntax and semantic, and an ecosystem making Tezos a candidate for formal proofs of correctness.
One of the Tezos’s feature is its ability to implement protocol capable of self-amendment. This is achieved by exposing two procedures functions to the protocol: set_test_protocol and promote_test_protocol. Tezos supports meta upgrades: the protocols can evolve by amending their own code. To achieve this, Tezos begins with a seed protocol defining a procedure for stakeholders to approve amendments to the protocol, including amendments to the voting procedure itself.
Tezos’s proof-of-stake mechanism is a mix of several ideas, including Slasher, chain-of-activity, and proof-of-burn.
The Tezos’s operations of a regular blockchain are implemented as a functional module abstracted into a shell responsible for network operations.
June 29, 2017
July 12, 2017