Tezos has doubled in value after raising $232 million during its crowdsale.
I think their team has a compelling case. Do they need $200m to complete their project? No, but I think this is one of the “realest” projects the space has seen in quite some time.
One of the big problems with ETH is pushing new features (SNARKS, casper, etc) through prototyping to actual implementation without introducing hoards of new unforeseen bugs. When it comes to people using ETH for applications more complex or important than online gambling, being able to prove correctness is huge (the lack of formal proofs for correctness have also been a big reason why large enterprises have dismissed ETH, it was also a huge point of disagreement in early EEA meetings). Tezos gets solves this by generalizing protocols and breaking them into their perspective applications, tying everything together with Ocaml, a provably correct functional language.
Their white-paper, originally written in 2014, was definitely ahead of it’s time. The paper highlighted a number of governance and scaling issues that have only been fully realized within the last few months.
Olaf Carlson-Wee spoke very highly of them in a podcast with YC on July 19th, seems like he was one of the first to invest heavily in their concept and support their vision.
I didn’t realize they were leveraging Ocaml for that purpose. That’s fascinating.
That’s a great point re: moving features from prototype to release without the introduction of unforeseen bugs and race conditions. Are there any other projects in this space tackling that issue?
During preliminary meetings for the Enterprise Ethereum Alliance there was talk of establishing working groups to adapt certain opcodes in provable correct languages.
Interesting! Yeah I’m a developer just starting to get into crypto / blockchain development. So a lot of the tech is very new for me.