What is Tezos

Tezos is a 2014 open-source blockchain platform for dApps and smart contracts. It was developed to overcome blockchain adoption challenges such as the future of long-term upgrades, the security of smart contracts, and open participation. Unlike the Bitcoin and Ethereum blockchains, which presently employ inefficient Proof of Work consensus models, Tezos uses a Proof of Stake model, which uses on-chain procedures to alter chain protocol autonomously once proposals have been agreed by the community. The "Tez" token is the Tezos blockchain's native coin (XTZ).

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