/biz/ - Business & Finance

Tezos has survived an incredible power struggle that the cover story of Wired magazine failed to summarize in ~12K words that later ended in a community coup d'état. The dysfunctional board of (3) was replaced, at community request, with six highly distinguished members, see the foundation website. The project introduces a generic platform/protocol written professionally from scratch in OCaml by people who understand that basic runtime errors are not acceptable in the context of financial operations. Smart contract language Michelson is a fully specified stack machine with a higher lvl lang Liquidity that seamlessly compiles. On-chain governance while memey is effectively a veto on contensious protocol amendments, nothing more. Approved amendment submissions are merged and the network inflates by the amount requested to reward the developers.

As of June 2018 the fully functional alphanet had been running for over well a year including smart contract execution. The mainnet aka "lizardnet" transition followed September 17th with one issue when Russian grayhats didn't get a response on HackerOne and spammed the mainnet through a flaw causing a minor outage that has been patched. Through spamming they did confirm 40 tps. The Tezos Foundation grants program started in the spring but shifted into full gear as of August 2018 quietly in the background and this is the first chapter.