The competitor to Ethereum, its main advantage over the old network is reduced potential damage from chain modification, like in the event of a hard fork. XTZ blockchain is built on the principles of DAO, where a native token serves as a representation of one’s voting ability.
To have the right to vote, participants must freeze a certain amount of XTZ on their wallets. This is done to increase coin price stability and ensure future growth — the voting power of the XTZ holders also translates into TVL numbers. As of 2022, Tezos TVL size — consisting of 11 dApps — equals $43M, $46M adjusted.
Tezos community mostly consists of technically educated software engineers, script-kiddies, blockchain architects, validators, and other specialists. Tezos is considered a highly tech-savvy blockchain, and its community — is responsible for the creation of a viable alternative to modern Ethereum problems, such as high fees and low reliability.
Project’s motto — «secure, upgradeable, and built to last» — stands to the point: launched in 2018, modern Tezos is easily scalable, transparent, fast, and cheap to operate dApps on. According to on-chain data, it is 28% cheaper to set up a startup using the Tezos chain, than the Ethereum network.