Tezos (XTZ)

What is Tezos?

The Tezos blockchain and its native currency Tez have been announced as the first self-amending blockchain and cryptocurrency in the world. The Tezos project is developing a stakeholder-driven smart contract platform, that can upgrade itself based on the community vote. This ability eliminates hard forks, and divisions within the community. Smart contracts and Dapps created on the Tezos platform are subjected to Formal verification, a method of mathematically proving program properties, thus greatly reducing chances of bugs or errors in the code. Tezos implements the pure PoS consensus protocol, allowing any stakeholder to participate. Block creation in Tezos is called Baking, and ones that want to become "Bakers" need to lay down a deposit that ensures honest behavior. The PoS of Tezos doesn't work by weighing held amounts, but through picking block creators at random by tracking certain coins within their holding. A year of inactivity disqualifies a holder from the picking process.