The $1 Billion Tezos Blockchain Is Officially Launching Monday
The "experimental" phase of the Tezos blockchain is over.
On Monday morning, Theos Foundation will officially announce that the protocol will no longer be in the beta period, but will be the entire main net launched and run as an official community.
The name is mostly semantic.
Tezos released a mainnet or live blockchain version of the software at the end of June and has since been able to exchange xtz tokens. The block chain was used as intended throughout that period, but technically the block chain was in beta and could be paused for maintenance at any time as network participants and stake tokens increased.
Ryan Jesperson, a spokesperson for the Tezos Foundation who manages the code and pays the developer, told CoinDesk:
"We are pleased to see that the network has been working smoothly and efficiently over the last few months, with more than 400 active validators (bakers) coming soon, and the community is an exciting technology."
According to a knowledgeable source, the only break in the network since its launch in June was when the block was not properly validated for about an hour in mid-July. The problem has been solved and the block chain has run smoothly since.
Only Tezos Foundation was able to verify transactions on the network when it was first released, but a third party validator was opened on July 20th.
Jesperson recently posted a major update on the Foundation blog, explaining business updates, such as receiving grants and grants, and talking about confusing chaos.
"The conversion was complex, fast, focused on success, and the whole team was confused and outperformed," says Jesperson.
Former President Johann Gevers resigned in February, and many people thought that by then they had interfered with the process of setting the record for the largest initial coin offering (ICO). July 2017 $ 232 million.
Since Jesperson took over with a completely new Board of Directors, the Foundation has partnered with PricewaterhouseCoopers, a leading auditor. Set up the first set of validation nodes to actively fund and engage with scholars, community members, and entrepreneurs who are interested in contributing to the ecosystem.
Most recently, TezTech and Tezos have announced funding for a software shop focused on. TezTech is a software store with multiple projects, including unreliable extensions and parenting solutions, APIs and software libraries.
According to CoinMarketCap, the current market cap of xtz is approximately $ 882 million, with approximately $ 3 million traded over the last 24 hours.
Photo of Greek columns through Shutterstock
CoinDesk, a leader in block-chain news, is a media outlet that pursues the highest standards of journalism and adheres to strict editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and block-chain startups.
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