My First ICO — Tezos

  1. Tezos is primarily a protocol, not an app.
  2. The White Paper was a legitimate academic treatise of the technology being developed, and although I did not understand 100% of it, I understand enough to see that there is innovation happening here.
  3. Tezos has a governance system, which allows the protocol to be updated by stakeholder consensus without the need for a hard fork.
  4. Tezos is built from scratch and has been in development for the past several years, not a clone coin.
  5. It has a real value proposition separate from competitor Ethereum. It provides a safer (fully verifiable) programming language. Tezos trades efficiency for its smart contracts language “Michelson” in exchange for correctness (mathematically provable correctness of code). Those of us who were here for the DAO (though I did not invest), understand this is a smart move.
  6. Tezos intends to do away with “app coins” in general (though it is possible to create them), and focus instead on features added to its own protocol in an evolutionary manner through the incremental governance system. Game changer, and totally different from Ethereum.



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Pablo Lema

Pablo Lema


Pablo has been working in and around virtual currency since early 2006.