Tezos full report

Answered at Nov 18, 2024

Tezos Blockchain Overview

Tezos is a blockchain platform known for its self-amending protocol and on-chain governance. It has been making significant strides in various sectors, including arts, gaming, and decentralized finance (DeFi).

Key Developments

  • Etherlink Rollup: Tezos has initiated the development of Etherlink, its first rollup solution. This Layer 2 blockchain uses Tezos Smart Rollup technology to provide a decentralized platform with low transaction fees. It emphasizes decentralized governance, allowing stakers to propose and vote on system upgrades (Tezos Foundation Report).

  • Protocol Upgrades: The Oxford2 protocol upgrade has enhanced Smart Rollups technology, introduced a new Timelock feature, and refined the staking mechanism. TezDev2023 showcased the platform's horizontal scaling capabilities, achieving 1 million transactions per second (Tezos Foundation Activity Report).

  • Paris Protocol Proposal: This proposal, featuring refined Adaptive Issuance, is advancing through the governance process, highlighting Tezos' commitment to continuous improvement (Tezos Foundation Activity Report).

Market Presence

  • NFTs and Gaming: Tezos has maintained strong momentum in the NFTs and gaming sectors. Notable projects include Rarible, a leading decentralized NFT marketplace, launching on Etherlink, and Manchester United unveiling their Fantasy United game. These projects underscore Tezos' expanding presence in these industries (Messari Report).

Financial Operations

  • Financial Transactions: The Tezos Foundation processed approximately 2,800 payments in 2023 and around 500 payments in Q1 2024. This showcases its adept handling of diverse financial transactions across currencies and cryptocurrencies (Tezos Foundation Activity Report).

  • Audit: An ongoing year-end audit by PricewaterhouseCoopers AG, Zug, initiated in September 2023, is expected to conclude in June 2024. This audit examines statutory financial statements for the Foundation's subsidiaries in Switzerland, France, and Singapore (Tezos Foundation Activity Report).

Community and Ecosystem

  • Grants and Partnerships: Since February, the Tezos Foundation has issued 56 new grants and entered into 4 strategic partnerships. This effort supports the growth of a diverse and robust global community (Tezos Foundation Report).

  • Developer Support: The Foundation has increased efforts to support developer growth, with a focus on developer tooling and onboarding. Tezos had a high-profile presence at the WeAreDevelopers World Congress 2022, hosting workshops and a career fair (Tezos Foundation Biannual Report).

Conclusion

Tezos continues to innovate and expand its influence across various sectors. With ongoing protocol upgrades, strategic partnerships, and a strong focus on community and developer support, Tezos is well-positioned to maintain its momentum in the blockchain space.