On July 1st the long hyped Tezos ICO is going to start. The following is the notes I took as part of my own due diligence on deciding whether or not to invest in this ICO.
Overview of Tezos
Work began on Tezos in early 2014. The Tezos programming team is headquartered in Paris, France. After reviewing the credentials of the Tezos team the appear to be a very talented group. Tezos has been built from the ground up and is not just another copy of Ethereum or Bitcoin.
Tezos has not published their gensis block yet. It may take four months before the network to goes live.
Features of Tezos:
• Proof of Stake Mining: every token holder can participate as a delegate regardless of the amount they hold. They say their inflation rate will be “nominal.”
• Smart Contracts: The Tezos solution to malicious users is to cap the maximum number of steps that a program is allowed to run for in a single transaction.
• Self-Governance: The Tezos foundation will retain a veto power over protocol upgrades for a period of one year from minting the Genesis block.
• Written in OCaml programming language
The Tezos ICO
The Tezos foundation will start its fundraiser on July 1 2017 at 6:00AM UTC. It will run till July 31st and is uncapped. The ICO will have a conversion rate of 5,000 Tezzies for 1 BTC.
Due to the ICO being uncapped and the network hasn’t even gone live yet I am going to wait for this project to get further along in development. There is a very good chance the price will suffer from milestone fatigue and dip below ICO price for the same reasons.
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