Tezos is a decentralized blockchain that governs itself by establishing a true digital commonwealth and facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.
At the simplest level, It is a decentralized ledger and smart contract platform built on top of the blockchain with consensus mechanism.The main difference from other platform falls in governance, smart contracts, consensus and general philosophy.
Governance – Protocol upgrades are formally proposed and deployed to the blockchain based on the voting of stakeholders. This approach provides a strong incentive to contribute efforts towards core development of the Tezos blockchain and further decentralizes the maintenance of the network.
Smart contracts – Possesses a rich, turing complete, smart contract language which can create covenants around its tokens. The base language, Michelson is statically typed and purely functional and offers maps, sets, lists, cryptographic primitives, and arbitrary precision integers.The language itself looks like a mix between Forth and Lisp and a reference is available here.
Consensus – Tezos node is launching with a delegated proof-of-stake consensus protocol. It works by letting every stakeholder designate to create blocks and receive rewards randomly and in proportion to their holdings. This means that even a very small holder can have a chance to create a block and receive a reward.Though the system is delegated, every token holder can participate as a delegate regardless of the amount they hold.
Get in touch with our expert Blockchain consultants today to know more.
In this tutorial, I’ll show you step by step on how to get started by learning to use the command line to run your own private blockchain for testing.
sudo apt-get update sudo apt-get -y upgrade
Tezos is programmed in OCaml and it is strongly typed & offers a powerful type inference system. So for running the node, we need an OCaml compiler with version 4.0.4 and its dependent libraries.
The best way to install all dependencies is by first installing OPAM, the OCaml package manager.
add-apt-repository ppa:avsm/ppa apt-get update Install OCaml 4.04 version using release package. wget http://caml.inria.fr/pub/distrib/ocaml-4.04/ocaml-4.04.2.tar.gz tar -zxvf file_name.tar.gz cd ocaml_folder_name/ ./configure make install apt-get install ocaml-native-compilers camlp4-extra opam
After the compiler installation, we need to clone the project into the root folder.
git clone https://github.com/tezos/tezos.git cd tezos/
A switch is the necessary component of the project so it doesn’t conflict with other projects. It’s your own version of the OPAM configuration, including the OCaml compiler, all packages, and package manager configuration related to your project.
opam switch tezos --alias-of 4.04.0 opam init Activate the new switch: eval `opam config env` wget http://launchpadlibrarian.net/283262471/libsodium18_1.0.11-1_amd64.deb; wget http://launchpadlibrarian.net/283262467/libsodium-dev_1.0.11-1_amd64.deb; sudo dpkg -i *.deb; sudo apt-get -f install; Install Tezos dependencies: make build-deps
Compile the project:
It will produce three binaries:
To run a single instance of a node in sandbox mode:
./tezos-node run --sandbox --rpc-addr localhost:8732
Get in touch with our expert AI consultants today to know more.