What is Tezos and why did we choose it to build Lyzi

1. What is Tezos?

Tezos is a decentralized open source blockchain network that supports smart contracts and offers a platform for creating decentralized applications (DApps). It was launched in 2018 after one of the most successful initial coin offerings (ICOs) of all time, which raised over $232 million. But it's not just its successful funding that makes Tezos remarkable; it's the technology and philosophy behind the network that really sets it apart.

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The self-modifying ledger

The heart of Tezos lies in its self-modifying register. Unlike other blockchains where upgrades generally require hard forks (which can divide the community and the currency), Tezos can upgrade on its own without the need for a fork. This is achieved through an on-chain governance model, in which stakeholders vote on protocol upgrade proposals.

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Key features of Tezos:

1. On-chain governance: The Tezos community, primarily token holders, can propose, vote, and implement protocol changes. This democratic approach ensures that the network evolves according to the needs of its users and avoids “hard forks” that sow division.
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2. Formal verification: Tezos places a strong emphasis on security and reliability. It supports formal verification, a mathematical process used to prove the accuracy of the code governing transactions. This makes Tezos particularly attractive for high-stakes applications in financial services and other industries where security is paramount.
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3. Proof of liquid participation (LPoS): Tezos operates through a liquid proof-of-stake consensus mechanism. Unlike proof-of-work (used by networks such as Bitcoin), which requires significant computing power, LPoS allows stakeholders to participate in network governance and earn rewards with a much lower energy footprint. This makes Tezos not only greener but also more inclusive.
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4. Smart contracts and dApps: Tezos is designed to make it easy to create smart contracts and dApps. Its ability to update can incorporate future advancements in blockchain technology, allowing Tezos-based dApps to remain at the forefront of technology.

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Tezos on the market

Tezos has carved a place for itself in the congested blockchain space by focusing on adaptability and security. It has been adopted for a variety of uses, from gaming to finance. For example, Société Générale, a major French bank, chose Tezos for its digital currency experiments at the central bank. The flexibility and solid governance model of the platform make it an essential choice for institutional and individual users.

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2. Why we chose Tezos: high TPS rate: scalability at its best

The impressive capacity Of one million TPS from Tezos, reinforced by innovative layer 1 and 2 solutions, guarantees scalability. This is critical for us as we handle a large volume of transactions, which requires speed and efficiency.

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Standing out from the crowd

Compared to other blockchains like Ethereum and Bitcoin, the scalability of Tezos is a game changer. Ethereum often struggles with high gas fees and network congestion, while Bitcoin's PoW mechanism is less efficient than Tezos LPOs.

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Tezos pricing structure: maximizing economic viability

Tezos' dynamic pricing structure ensures competitive prices. For Lyzi, this means lower operating costs and, as a result, more attractive prices for our users.

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Encouraging user adoption

Affordable transaction fees are critical to user adoption and retention. By taking advantage of Tezos's efficient fee system, we are making crypto payments accessible and appealing to a wider audience.

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Security and stability: the foundation of trust

The unparalleled security and stability of Tezos, thanks to its unique combination of features, inspires confidence and reduces risks. This is essential to maintain users' trust in our platform.

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Building a reliable ecosystem

The reliability and reliability of our platform are enhanced by Tezos's robust security features, which ensure a safe environment for our users' financial transactions.

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3. Impact on the real world: improving the user experience

Tezos allows us to manage a wide range of transactions, from small daily payments to large commercial transfers, efficiently and securely. This versatility is essential to provide a smooth user experience.

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Expanding our reach

Our use of Tezos allows us to access different markets and offer an efficient and accessible payment solution. This is crucial for our growth and the expansion of crypto payment systems.

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Tezos compared to its competitors: a clear advantage

Comparing Tezos to other blockchain platforms like Ethereum and Bitcoin underscores its relevance for Lyzi. Tezos offers a more balanced solution thanks to its efficient and ecological approach.

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At the forefront of the crypto payments industry

By harnessing the technological strengths of Tezos, we are establishing ourselves as a leader in the crypto payments industry, offering services that are faster, more affordable, and more secure than those of many competitors.

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Conclusion

Our decision to rely on Tezos fits perfectly with our mission to provide top-quality crypto payment solutions. Tezos's combination of high TPS, low transaction fees, and unparalleled security and stability make it the ideal platform to meet our needs.

As we navigate the evolving digital finance landscape, our partnership with Tezos allows us to set new standards for efficiency, reliability, and user satisfaction when it comes to crypto transactions.

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