Tezos is a blockchain and open-source platform designed for assets and applications, emphasizing code security, on-chain governance, and decentralization. The platform's development includes ongoing improvements to scalability, composability, and support for mainstream programming languages such as JavaScript, TypeScript, and Python. Built with formal verification in mind, Tezos helps developers minimize bugs in smart contracts, making it well-suited for applications requiring high security and reliability. Tezos uses a Liquid Proof-of-Stake (LPoS) consensus mechanism, allowing stakeholders to participate directly or through delegation in securing the network and earning rewards. Its on-chain governance system enables stakeholders to propose and vote on protocol upgrades, facilitating self-amendment without blockchain splits. This approach fosters community-driven innovation while maintaining network stability. First introduced in 2014 and launched in 2018, the Tezos Mainnet has maintained continuous operation, earning recognition for its technical robustness and active community. Tezos was introduced by Arthur and Kathleen Breitman in a [2014 white paper](https://tezos.com/whitepaper.pdf) under the pseudonym L.M. Goodman, a reference to Satoshi Nakamoto and a journalist who had incorrectly identified Bitcoin's creator. In an [earlier paper](https://tezos.com/position-paper.pdf), the Breitmans outlined what they saw as Bitcoin's key limitations: the absence of a governance model that encouraged community participation, inefficiencies and centralization risks in its proof-of-work system, the restricted functionality of its programming language for smart contracts, and security vulnerabilities. Tezos was designed to address these challenges. Arthur Breitman has a background in quantitative analysis, having worked at Goldman Sachs and Morgan Stanley, as well as research engineering roles at Google X and Waymo. He holds degrees in applied mathematics from École Polytechnique and NYU's Courant Institute. Kathleen Breitman previously served as a senior strategy associate at R3, a consortium of financial institutions, and has experience at Accenture, Bridgewater Associates, and the Wall Street Journal. She graduated from Cornell University. Tezos stands out due to its on-chain governance system and strong emphasis on code security and formal verification. It was also one of the first blockchains to implement the liquid proof-of-stake (LPoS) consensus mechanism. A key feature of Tezos is its on-chain governance, which enables network participants to propose and vote on protocol upgrades based on their stake. The voting process occurs entirely on-chain and consists of five phases, including three voting rounds. Each phase lasts around two weeks, meaning a full upgrade cycle can take nearly three months. If consensus is reached and a required quorum is met, the protocol’s self-amendment feature automatically implements the upgrade, reflecting the majority’s decision. This decentralized approach contrasts with governance models in networks like Ethereum or Bitcoin, where core developers typically drive protocol changes. Additionally, Tezos supports staking, allowing users to earn rewards by holding XTZ. Several major cryptocurrency platforms offer staking services for Tezos, further enhancing its accessibility. Here is the revised version with improved clarity and readability while preserving the original meaning and tone: --- The circulating supply of XTZ is 977,621,108 tokens. The total supply is uncapped, with validator rewards increasing it at an annual rate of approximately 4.5%. Tezos conducted a token fundraising event in July 2017, raising 65,681 BTC and 361,122 ETH, equivalent to $232 million at the time. This made it one of the largest token fundraising events in history. Of the initial supply, 80% was allocated to fundraiser donors, while the remaining 20% was split equally between the Tezos Foundation and Dynamic Ledger Solutions—the company established by the Breitmans to develop the blockchain. --- This version removes speculative or promotional language, eliminates time-sensitive phrasing, and keeps the content factual and evergreen. Let me know if you'd like any further refinements! Tezos employs a liquid proof-of-stake (LPoS) consensus mechanism, an adaptation of delegated proof-of-stake (DPoS). In this system, participants who hold at least 6,000 XTZ can become validators (referred to as "bakers" in Tezos). Alternatively, users may delegate their stake to any public baker, even if they don’t meet the minimum requirement themselves. This approach aims to make staking more inclusive and accessible, encouraging broad participation while maintaining network security through a diverse set of validators. XTZ, also referred to as "tez," is available for purchase on major exchanges such as Binance, Coinbase, HTX, OKX, Kraken, KuCoin, Bybit, and Gate.io. It can be traded against fiat currencies like USD and EUR, as well as other cryptocurrencies including Bitcoin. Common trading pairs for XTZ include USDT, BTC, USD, and EUR. For those interested in converting fiat currency to Bitcoin, a detailed guide is available [here](https://droomdroom.com/how-to-buy-bitcoin/). (Note: The link has been replaced with a placeholder. If a specific guide is intended, ensure it directs to a relevant and neutral resource.) [Explore in-depth tech deep dives on DroomDroom](https://droomdroom.com/) [Glossary: What is staking?](https://droomdroom.com/) [Discover new cryptocurrencies on DroomDroom](https://droomdroom.com/) [DroomDroom Blog: Features and analysis](https://droomdroom.com/) [A Deep Dive Into Tezos](https://droomdroom.com/) *(Note: Links have been replaced with placeholder URLs. Adjust them to relevant content on DroomDroom as needed.)* **Tezos Nodes** is a service that evaluates the reliability of public Tezos bakers and monitors node performance for private bakers. In collaboration with the baking community, the team created a baker reliability index based on **10 key indicators**. This index helps stakers assess and select trustworthy public bakers. For more details, visit the [Tezos Nodes website](https://www.tezos-nodes.com/).