Tezos is a self-governing and self-amending smart contracts platform that launched in 2018.
The project aims to improve upon Ethereum and other smart contract platforms by implementing on-chain governance. Tezos’ on-chain governance mechanism allows the blockchain to routinely adopt and adapt new features natively and automatically.
Tez is the digital currency of Tezos and Tez holders who stake Tez can vote on, as well as determine the voting system used for upgrades.
Tezos is also unique because of how it has started to be used by high-profile businesses. In September 2020, it was announced that the French banking giant Société Générale planned to use Tezos for experimenting with a central bank digital currency and structured products (first structured product launched in April 2021).
Tezos operates a distinct and inclusive governance process democratizing the decision-making process and minimizing the risk of hard forks.