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Undeterred Tezos Team to launch the Blockchain Platform Soon
During the recently concluded UCLA Blockchain Lab’s Cyber Days contract ‘Kathleen Breitman’, the co-founder of Tezos has confirmed that they will launch the self-governing Blockchain platform ‘Tezos’ within few weeks. In brief, Tezos is a decentralized blockchain platform that governs by itself. Tezos is a smart contract platform whose origin dates to 2014. At that moment, Tezos design was very forward thinking in terms of governance and scalability as its integral components. Tezos design is completely different from Bitcoin and Ethereum. Tezos uses very powerful technology uniquely carved to enforce smart contracts on a public ledger. It facilitates making those contracts subject to formal verification, a process used in aerospace, medicine, and other industries that need to ensure that code works as intended thereby obviating the need for later correction before being uploaded on the blockchain.
Last year in July 2017, Tezos went for the crowdsourcing and could raise a record braking $232 million through its ICO. However, after few complaints on irregularities its ICO funding is under continuous scrutiny. Additionally, there are law suits filed against Tezos for its alleged non-compliance with the US Securities and Exchange Commission (SEC). Tezos has been accused of selling securities as ICO tokens and as the company is not registered with the SEC, it amounts to securities Fraud.
Inspite of all the law suits, Kathleen Breitman confirmed that they will go ahead and release the tokens “tezzies”. Also, it should be noted that Tezos will now be in direct competition with Ethereum. Tezos blockchain will underpin secure, decentralized applications and smart contracts while avoiding some of the political and technological problems which earlier efforts such as Bitcoin and Ethereum have faced.