Tezos is a permissionless L1 blockchain built to support and run smart contracts. The protocol is relying on Delgated Proof-of-Stake to reach consensus. The uniqueness of Tezos, is that the protocol uses a self-amendment feature powered by on-chain voting, which allows for network upgrades without having to fork into two different blockchains.

 

XTZ is the native token of Tezos with used to transfer value, secure the network through staking, and participate in on-chain governance voting.

 

Tezos is overseen by The Tezos Foundation, a Swiss entity that is responsible for promotion, development, and strategic partnerships of the ecosystem.