Self Amending Cryptographic Ledger Tezos Goes Live on Mainnet

After a bumpy year, or so, Tezos has announced that it is live on the Mainnet.

In a brief release, Tezos Foundation stated;

“On June 30, the Tezos Foundation proposed a genesis block that became the seed of the Tezos network. For a time following the proposal, there was an expectation that, while fully operational, the network had a higher likelihood of experiencing unscheduled downtime along with maintenance and adjustments, and so we regarded the network as a betanet. Over the course of the last few months, we have been happy to see the network operating smoothly and efficiently. The community has been actively engaged, with more than 400 validators (“bakers”) scheduled for an upcoming cycle. In addition, the community has been developing an array of exciting technologies and other tools to increase community engagement, understanding of the network, and adoption.”

Tezos said the beta period has now ended but as with any new blockchain, unexpected issues may still crop up. Tezos suggested that prospective users should do their own research to determine if Tezos is the right blockchain for their project.

“We expect that the community will, over time, bring a range of new and exciting developments to the network, and are excited to stand as a part of the community to support that progress.”

Tezos co-founder Athur Breitman also posted a video update on YouTube (see below).

Tezos rocketed onto the initial coin offering (ICO) scene with a funding round that went far and beyond what everyone expected – including the founders. In the end, Tezos raised approximately $232 million in 2017 at the height of the crypto rave. The offering also saw one of the first class action lawsuits filed against the ICO alleging the issuance of unregistered securities. The lawsuits were joined by an internal battle that saw the ouster of the head of the Tezos Foundation. Meanwhile, development on the Tezos platform continued unabated.

Tezos now has an actual product that crypto-preneurs may use. It will be interesting to see how the platform evolves and what type of utilization it will engender.

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