Tezos mainnet launches0.1

Today the Tezos Foundation, founded by Arthur and Kathleen Breitman in 2015, went live with its mainnet. The Breitmans were the subject of a Wired cover story back in June, entitled Inside the Crypto World's Biggest Scandal. The so-called scandal was nothing more than an internal power struggle, but it's part of the reason the company has yet to gain traction.

Tezos is also a very complicated platform. It describes itself as "a blockchain that can evolve by upgrading itself." The Wired story described it as "the world’s first “self-­amending” cryptocurrency, one that could assimilate all the best newfangled ideas."

Tezos Foundation
@TezosFoundation

The #Tezos mainnet is live! tezos.foundation/news/tezos-mai…

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Regardless of its complexity, Tezos is one of the most interesting use cases for the "proof of stake" consensus mechanism. As Spencer Noon noted, Tezos is "the first high-profile instance of a Proof of Stake blockchain being live in production."

Spencer Noon 🕛
@spencernoon

Tezos going live on mainnet today marks the first high-profile instance of a Proof of Stake blockchain being live in production.

Most people incorrectly think of Tezos consensus as DPoS, similar to EOS (i.e. fixed validator set).

It’s more like PoS with delegation.

🍿

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Sentiment on crypto twitter about the mainnet launch has been surprisingly positive so far. Brian Patrick Eha called it "a remarkable turnaround for a project that looked like a disaster not so long ago."

Brian Patrick Eha
@brianeha

The @tezos mainnet launches tomorrow. Betanet period went smoothly. The number of network validators (for an upcoming cycle) has grown to more than 400. Hard not to see this as a remarkable turnaround for a project that looked like a disaster not so long ago.

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Twitter user @joramblings says Tezos has "one of the strongest and most battle tested communities in the crypto platform wars."

Jo
@joramblings

@cryptoauthorit @Melt_Dem @tezos @tezos is a smart contracts platform that uses DPOS consensus.
Its built using the OCAML functional language which is used by big companies where a single mistake could cost millions of $..
One of the strongest and most battle tested communities in the crypto platform wars ✊

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However, lawyer Stephen Palley sounds a note of caution:

Palley
@stephendpalley

"Careful, in most instances, to avoid characterizing the plan as an 'Initial Coin Offering' (' ICO'), these posts nevertheless described a process by which Tezos 'tokens' would be allocated for 'initial investment[s]."

In Re Tezos Secs. Litig., 2018 U.S. Dist. LEXIS 157247, *4-5

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