A self-amending crypto-ledger. Tezos
can instantiate any blockchain based ledger. Bitcoin, Ethereum, Cryptonote,
etc. can all be represented within Tezos. The protocols can
evolve by amending their own code. To achieve this, Tezos begins with
a seed protocol defining a procedure for stakeholders to approve amendments
to the protocol, including amendments to the voting procedure
itself. This is not unlike philosopher Peter Suber’s Nomic, a game built
around a fully introspective set of rules.
In addition, Tezos’s seed protocol is based on a pure proof-of-stake
system and supports Turing complete smart contracts. Tezos is implemented
in OCaml, a powerful functional programming language offering
speed, an unambiguous syntax and semantic, and an ecosystem making
Tezos a good candidate for formal proofs of correctness.
whitepaper - https://www.tezos.com/static/papers/white_paper.pdf