### What is Tezos?

Tezos is a cryptocurrency and blockchain platform designed to provide a decentralized, secure, and scalable ecosystem for building complex smart contracts and decentralised applications (dApps). It is characterised by its self-amending protocol, which allows for network upgrades without the need for hard forks, as well as its on-chain governance and formal verification features for smart contracts.

### How does Tezos work?

Tezos operates on a decentralised, self-amending blockchain platform. It uses a modular architecture composed of network, transaction, and consensus layers, allowing for seamless upgrades. The platform utilises Liquid Proof of Stake (LPoS) as its consensus mechanism, where token holders can stake their tokens to participate in network validation and governance. Tezos employs formal verification to ensure the security and correctness of its smart contracts, which are self-executing programs on the blockchain.

### What are the potential use cases for Tezos?

Tezos can be used across multiple industries and scenarios, including:

1. **Decentralised Finance (DeFi):** Supporting platforms for decentralised exchanges, lending, borrowing, and stablecoins.
2. **Non-Fungible Tokens (NFTs):** Applications in art, collectibles, and virtual real estate.
3. **Tokenised Assets:** Facilitating real estate, stocks, and bonds tokenisation.
4. **Voting Systems:** Providing secure and transparent decentralised voting solutions.
5. **High-Stakes Applications:** Suitable for applications like autonomous driving and electric vehicle charging.

### What is the history of Tezos?

Tezos was founded by Arthur and Kathleen Breitman in 2014 to create a blockchain capable of evolving without hard forks. In 2017, Tezos conducted a significant ICO, raising over $230 million, despite facing legal challenges. The Tezos mainnet launched in 2018, allowing participants to engage in on-chain governance. Over the years, Tezos has undergone numerous upgrades, such as the Edo and Florence updates in 2021, and significant advancements like transitioning to a modular design, enhancing governance, and rapid protocol upgrades without hard forks.

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