About Tezos Technology
Tezos is the first decentralized protocol with a self-amendment process, which means; that the protocol have the ability to upgrade without the need of hard forks or a core team of developers. Tezos protocol is open-source where you can create smart contracts and/or any decentralized applications. The protocol is governed by the holders of XTZ coins (stakeholders) who decide the direction of development of the protocol by vote.
How does Tezos work?
Tezos has a fairly unique architecture that uses a middleware called Network Shell. This has allowed the creation of a modular style of Blockchain that can be changed, updated or improved based on a specific set of rules. In general, Blockchain has three well differentiated layers: a layer that allows communication between nodes and partners. Another transaction layer that specifies a transaction verification protocol and finally a consensus layer. Instead, Tezos has created a single layer called the Blockchain Network Shell in which it combines consensus and transaction protocols. This layer allows seamless communication between the blockchain and the network layers, while the network layer remains independent from the other two. This communication between them enables stakeholders to manage blockchain updates and changes democratically. This type of unique network architecture and blockchain technology allows Tezos to update and implement changes without the risk of interest conflict.
Why Tezos Blockchain?
Tezos blockchain no only allows developers to build decentralized applications on top of the protocol and create smart contracts, but also allow stakeholders to upgrade the amendment process itself. However, Tezos blockchain place an important role in the blockchain space by creating awarness and supporting a clean green enviroment with its minimum energy consumption for its network.