Tezos is a generic self-amending cryptographic ledger, which means that it not only allows decentralized consensus on the state of the blockchain but also allows consensus on how the protocol and nodes are evolved over time. Tezos has been developed to address limitations in the Bitcoin protocol such as issues arising from hard forks, cost, and mining power centralization due to PoW, limited scripting ability, and security issues. It has been developed in a purely functional language called OCaml.
The original research paper is available at https://www.tezos.com/static/papers/white_paper.pdf.
The architecture of Tezos distributed ledger is divided into three layers: the network layer, consensus layer, and transaction layer. This decomposition ...
