What is Tezos?

The purpose of Tezos is to serve as a platform for deploying smart contracts and enabling peer-to-peer transactions. The project aims to become the 'last cryptocurrency' by readily adopting innovations from competing protocols. Tezos has various use cases, primarily focused on enabling smart contracts and decentralized applications (DApps) through its blockchain network. The native token, XTZ, is used to pay transaction fees, participate in governance, and as a store of value.

The Tezos network achieves consensus using proof-of-stake. Tezos uses an on-chain governance model that enables the protocol to be amended when upgrade proposals receive a favorable vote from the community. The Tezos platform is designed with the goal to become the 'last cryptocurrency' in the sense that the innovations coming from competing protocols could be readily adopted by Tezos blockchain and its stakeholders.

Tezos differentiates itself from competitors through its on-chain governance model, which enables the protocol to be amended when upgrade proposals receive a favorable vote from the community. This allows Tezos to adapt and evolve over time, potentially giving it a competitive advantage. Tezos is designed to be a flexible and adaptable platform, allowing it to readily adopt innovations from competing protocols.