Tezos — a self-amending crypto-ledger

Fred Yankowski shared Tezos — a self-amending crypto-ledger, by L. M. Goodman.

We present Tezos, a generic and self-amending crypto-ledger. Tezos can instantiate any blockchain based ledger. The operations of a regular blockchain are implemented as a purely functional module abstracted into a shell responsible for network operations. Bitcoin, Ethereum, Cryptonote, etc. can all be represented within Tezos by implementing the proper interface to the network layer. Most importantly, Tezos supports meta upgrades: the protocols can evolve by amending their own code. […] In addition, Tezos’s seed protocol is based on a pure proof-of-stake system and supports Turing complete smart contracts. Tezos is implemented in OCaml, a powerful functional programming language offering speed, an unambiguous syntax and semantic, and an ecosystem making Tezos a good candidate for formal proofs of correctness.

This is actually my current favorite “future technology” regarding blockchain purposes, for very specific reasons:

  • I believe the DAO makes it very clear that any smart contracts network must have formal verification built in at a fundamental level.
  • Listening to the StrangeLoop talk on Tezos kept me on my toes mentally the entire time, thinking of reasons it solved fundamental issues I’d had with how people had been going about what will be an intensely disruptive technology at scale.