Tezos

Tezos is a decentralized, open-source blockchain created in 2018. The native cryptocurrency of Tezos is Tez (XTZ).

Tezos can execute peer-to-peer (P2P) transfers of cryptocurrency and deploy smart contracts. The blockchain relies on a proof-of-stake consensus. More recently, users used this blockchain to create NFTs.

Arthur and Kathleen Breitman are the co-founders of Tezos, for which Arthur wrote the whitepaper under the pseudonym L. M. Goodman. He and his wife also founded Dynamic Ledger Solutions, which wrote the underlying code for Tezos.

How does Tezos work?

Tezos uses a consensus-based system. Proof-of-Stake that is more energy efficient Proof-of-Work And users can lock (Stake) XTZ coins on the network to contribute to the security of the network as a transaction verifier and earn rewards in XTZ coins.

What is different in Tezos is that stakeholders can participate in blockchain governance. It encourages users to take part in the development of the network and supports decentralization.

Discover more about blockchain crypto and compliance with our Glossary.

About Scorechain

Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance, the Luxembourgish company has helped over 200 customers in 45 countries since 2015, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets, customers onboarding, audit and law firms, and some LEAs.

Scorechain solution supports Bitcoin analytics with Lightning Network detection, Ethereum analytics with all ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger, Tezos, and Tron with TRC10 and TRC20 tokens. The software can de-anonymize the Blockchain data and connect with sanction lists to provide risk scoring on digital assets, transactions, addresses, and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.