Only three months ago tech project Tezos was able to raise $232 million online in what was a very successful initial coin offering (ICO) in which a new project is financed and a new currency is created.
|Now the Tezos project is in grave danger of falling apart as two groups battle for control. On one side are the founders of Tezos, Arthur and Kathleen Breitman and on the other, Johann Gevers, who is president of the Swiss foundation that helped the two establish the offering and also to develop the Tezos computer network.|
Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts. Tezos takes a fundamentally different approach to governance by creating governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network. When a developer proposes a protocol upgrade, they can attach an invoice to be paid out to their address upon approval and inclusion of their upgrade. This approach provides a strong incentive for participation in the Tezos core development and further decentralizes the maintenance of the network.