Tezos’s three lessons from the financing of the record block chain


nnnIn the last week, the block chain start-up company Tezos, a short 13-day counterattack fanatical, broke the ICO record again, attracting about $ 232 million in funding. This is incredible for a team with only 11 developers, but from another point of view, the team wants to compete with the chain is the chain, then such a huge amount of money is indeed its needs. But this is not just a huge amount of money for the block chain, so it attracts so much attention, but shows us some interesting phenomena in the current chain chain.n
nnTranslation: Clovern
nLast week, the block chain start-up company Tezos just 13 days of fanaticals again broke the ICO record, attracting about $ 232 million in funds.n
nThe real excitement for investors is that Tezos is a brand new block chain (currently undergoing alpha version testing) that has 1) built-in self-management methods, 2) that may be more acceptable than everyone else Ethernet Square Blocks Better Smart Contract Method.n
nThe start-up is also trying to cooperate with the well-known Silicon Valley venture capitalist Tim Draper, and in most of the chain-chain start-ups do not have any products to use to show their own time to launch ICO such a big environment , Which undoubtedly adds more credibility to the Tezos project.n
nHowever, this is not just a huge amount of ICO funds for Tezos financing. In fact, this particular start-up attracts so much attention, but shows us some interesting things about the chain area:n
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n1. The demand for block chain stabilityn
nFrom the definition point of view, the block chain is to center the entity. There is no central body in charge of this, which means that when there are various differences in the community, it is difficult to grasp the general direction. The two most mature development of the block chain – Bitcoin and the ether square, are so caught into the dilemma. The Jiefangfang block chain was released without any built-in management rules, and in the last year the two camps of the community could not reach a consensus on the program to modify the platform, leading to a fork in the tower segment. And now run the two ether square block chain.n
nAt this point, the bitcoin block chain is also facing a potential bifurcation problem, the two camps will be able to expand the block chain capacity of the proposed bit code change or not. And on July 20 began to implement the lock on the code change. As of the evening of July 20, despite the prospect of avoiding bifurcation, the price of Bitcoin was fluctuating significantly in the last month due to uncertainty.n
nBut Tezos advisor and IC3 director Emin Gun Sirer told Venturebeat that, on Tezos, “if possible,” try to put the management structure in the code so that it can modify the underlying system. ” Anyone with a currency can vote, and the code follows the winner’s decision – a clear rule that is designed to make bifurcation impossible.n
nThis is not to say that Tezos solved the problem. It is still a very immature platform, destined to encounter its own difficulties. And as Gun Sirer said, this is just the first built-in management structure can be a lot of testing platform. Tezos is controlled by “tokens”; there will also be other mechanisms of competition.n
nThe real thing here is that the $ 232 million fund raised allows us to understand that the real focus on the chain area is built-in management.n
nEncrypted currency research team Smith Crown’s Sid Kalla told VentureBeat:n
nn”[Tezos’ solution] is still in the theoretical stage and we have to see how it is going to be in practical application, but it is also a good try, and even if the experiment fails, we can learn a lot from it.n
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n2. Encourage more and better block-chain optionsn
nGun Sirer explains that another important feature of the Tezos platform is the advantage of its smart contract. “It’s hard to figure out the effect of a piece of code, and it’s easy to make it clear in Tezos, so the system has a testable test, for example, you can see another A section of code to understand whether the smart contract is running as expected.n
nIf you are not familiar with the concept of smart contracts, then you should at least know that the smart contract is a block chain technology “to the central assurance” is a very important part. The etherbox defines an intelligent contract as “an application that runs exactly as a set-up program, and there is no possibility of downtime, censorship, fraud, or third-party interference.” (By the way, Bitcoin is not like ether Square and Tezos, there is no built-in smart contract function, but a startup called RSK is committed to implementing smart contracts in Bitcoin.n
nEncrypted money asset management company NextBlock’s Charlie Morris said Tezos’s financing scale tells us:n
nn”We are at the beginning of a smart contract platform war.” “We are currently the largest platform for intelligent contracting, but we are also witnessing the development of other options such as Tezos, IOTA, and China’s quantum chains, etc. We may also see the Regional Differences.”n
nnMorris said he believes the potential future of the smart contract platform is threefold:n
nn1) a single “all-around” platform that everyone will use, 2) a multi-platform domain where different platforms serve different use cases such as IOTA for the Internet of Things, and 3) called dApps (“go to the center Application chain “application community,” interlocking its own version of the block chain and connecting it to other block chains through parallel chains. “(Morris says parallel chains are able to trade between block chains, but It is not yet available, but Cosmos and Polkadot are under development.n
nnSo, Tezos’s financing tells us that there is no clear winner in the existing chain-chain platform, and we can expect to see more competition and development. Morris said: “It is likely that the platform for leading smart contracts in the next decade has not yet appeared.”n
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n3. Test priorityn
nWith the current popularity of ICO, Tezos many investors are likely to be speculators. Morris and Gun Sirer said, but most of the money is still likely to come from the millionaire in the encrypted money sector – those who invest early in Bitcoin, the Etherman Square, and invest in the recent ICO program. There seems to be an ethical standard in the chain-chain community that supports new projects and reintroduces profits into the entire ecosystem. That is, to ensure that the test to the central way.n
nTezos’s team has only 11 developers. And for such a scale, and its products are still in the alpha stage of the team, $ 232 million in financing is almost inconceivable. But even more incredible is the team, which, according to the company, together with a small group of PhDs and Scholars, is building a chain of blocks that can compete with the current strong and highly popular platform for the platform.n
nBut unlike the “traditional” start-ups, the test seems to be more important than the dollar’s return on investment in the chain-chain start-ups. Tezos promised to go beyond the improvement of the etherbox may or may not succeed, and support the early company’s encrypted money millionaire seems to understand this. NextBlock’s Morris explains:n
nn”It is a risk to put so much money on such a small team, and on the other hand, the team wants to compete with a well-capitalized etherfront, so they have to compete with so much cash This is not the name ‘we have to have a management method’ to resist the ether – based square; it ‘s just a test.n
nnUltimately, even if Tezos can not go beyond the ether square, as long as it has the opportunity to test its ideas in real life, many investors may still think this is a valuable return.n

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