- External reference: https://opentezos.com/tezos-basics/governance-on-chain/
- External reference: https://opentezos.com/tezos-basics/governance-on-chain
- External reference: https://opentezos.com/tezos-basics/cli-and-rpc
- External reference: https://opentezos.com/tezos-basics/operations
- External reference: https://opentezos.com/tezos-basics/smart-contracts
- External reference: https://opentezos.com/tezos-basics/
- External reference: https://opentezos.com/tezos-basics
- External reference: https://tezos.gitlab.io/active/michelson.html
- External reference: https://tezos.com/get-started/
Its life cycle is composed of five stages of tezos governance.
“Baking” is the act of signing and publishing blocks to the Tezos blockchain.
Tezos ledger currently has two types of accounts that can hold tokens
implicit account is a non programmable account, whose tokens are spendable and delegatable by a public key. Its address is directly the public key hash, and starts with tz1, tz2 or tz3.
smart contract is a programmable account. A transaction to such an address can provide data, and can fail for reasons decided by its Michelson code. Its address is a unique hash that depends on the operation that led to its creation, and starts with KT1
Tezos is a public, open-source blockchain protocol relying on a low power consumption and energy-efficient consensus. The protocol also incorporates a self-amending governance system, which allows continuous improvements while preserving the integrity of this consensus. This is a rare feature that eliminates hard forks troubles. Tezos is also fundamentally designed to provide code safety through Formal Verification.
Like in Ethereum, Tezos uses 2 types of accounts:Classic accounts with a primary address, to store tez (ꜩ)Smart contract accounts with an address, storing code and tez (ꜩ)
Tezos vocabulary, “contracts” refers to both types in general
each contract has a “manager”. Precisely, a classic account has an “owner”
An implicit account is linked to a manager
A transfer operation to the account’s address creates the account itself.
Only implicit accounts can be registered as delegates and participate in the baking process
Smart contracts are also called “originated accounts” and are created with an origination operation
don’t have a private key and public key pair.
operation is usually a message sent from one address to another
operation can be sent from an implicit account (if signed using the manager’s private key) or programmatically by contract code execution
there is also a counter field, whose purpose is to prevent replay attacks.
only valid if the contract’s counter is equal to the operation’s counter
Currently the Tezos network on Florence can process around 100 TPS (transactions per second) or 121 TPS for Tez transfers and has an operation confirmation time of 30 minutes
Operation confirmation time is the time it takes for an operation to be considered secure.
Bitcoin can process 7 TPS and has a confirmation time of 60 minutes (6 valid blocks).
The diagram below represents the life cycle of an operation:FIGURE 1: Life cycle of an operation
Although it uses RPC and is JSON-based, it does not follow the JSON-RPC protocol.
Tezos-client is the official client to interact with a Tezos node via RPC
Baking: The creation of new blocks on the Tezos blockchain by its validator nodes (aka bakers), who receive compensation for each new block produced
Endorsement: Each baked block is validated by other bakers who have not baked the block. These are known as endorsers of the block and they receive compensation for this
Delegation: All holders of the Tez crypto-currency can delegate their baking and voting rights to a baker called a delegate, while still maintaining control of their funds
Roll: An amount of Tez which is used as the unit of measure for baking and voting rights. Weight in the baking and voting process is indexed to an integral number of rolls. At present, one roll is equal to 8,000 Tez
Cycle: The time equal to the creation of 4,096 blocks’ on Tezos (around 2 days, 20 hours, and 16 minutes (1 minute per block, if all bakers cooperate effectively))
The self-amendment process is composed of five periods:Proposal PeriodExploration Vote PeriodTesting PeriodPromotion Vote PeriodAdoption PeriodEach of these five periods lasts five baking cycles (i.e. 20,480 blocks or roughly 14 days), taking almost two months from the proposal to activation. The latest and current self-amendments are available at tezosagora.org.
Legacy plural was tezzies, now it is tez
Plural: XTZ, tez
Tezos coins are called “Tez” and their symbol “ꜩ” (\ua729, “Latin small letter tz”). The symbol “XTZ” is also used, especially on markets
Notes linking here
- activate a tezos account
- clk tzc
- five stages of tezos governance
- get balances of a tezo smartcontract
- how tezos works
- how to listen to tezos events
- how to reveal a tezos account
- how to run a local development environment in tezos (flextesa and tzindex)?
- how to run tests about tezos?
- identify the type of a tezos smart contract
- on ne peut pas créer de compte tezos sans tezzies
- running a local tezos node
- sign & inject
- temple wallet
- tezos API gateway
- tezos consensus algorithm
- tezos counter issue
- tezos faucet
- tezos forge
- tezos foundation
- tezos inject
- tezos mempool
- tezos operations
- tezos sandbox
- tezos sign
- tezos signature schemes
- tezos smartcontract calls are transactions
- tezos testnets
- tezos transaction
- types de clef de tezos
- with taquito, in tezos, you can get the contract storage, so you don’t have to get through any entry point