Tezos: A Self-Amending Crypto-Ledger Position Paper

Tezos: A Self-Amending Crypto-LedgerPosition GoodmanAugust 3, 2014\Laissez faire les propri etaires."| Pierre-Joseph ProudhonAbstractThe popularization of Bitcoin, a decentralized crypto-currency has in-spired the production of several alternative, or \alt", currencies. Ethereum,CryptoNote, and Zerocash all represent unique contributions to the crypto-currency space. Although most alt currencies harbor their own source ofinnovation, they have no means of adopting the innovations of other cur-rencies which may succeed them. We aim to remedy the potential foratrophied evolution in the crypto-currency space by presenting Tezos, ageneric and Self-Amending can instantiate any blockchain based protocol.

- The \hard fork" problem, or the inability for Bitcoin to dynamically in-novate due to coordination issues. - Cost and centralization issues raised by Bitcoin’s proof-of-work system.

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  Ledger, Paper, Position, Ledger position paper

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