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May 12, 2022

Curios Kicks off Development of New Blockchain, Tezos

Adding to our ever-growing list of deployable blockchains

There are numerous blockchains used in the crypto world, the most well known being Ethereum. Ethereum introduced the ability to create smart contracts, build dApps, and provided access to a decentralized network. This was an incredibly innovative shift from the technology behind the first blockchain Bitcoin. Since the creation of these two blockchains, numerous other chains have sprung up, all with different unique features. A blockchain by definition is an open ledger that several parties can access at once. All blockchains share the primary benefits that the recorded information is hard to change without an agreement from all parties involved. An additional core benefit that all blockchains are at least supposed to share is safety and security. Curios has identified Tezos as meeting all the safety and code correctness required for NFT assets and other high value use cases at both the protocol and application layers by leveraging languages OCaml and Michelson, which facilitate formal verification. 

The Tezos platform was built to ensure active community governance and enable participation from members. That being said, users can participate by evaluating, proposing, or approving amendments to Tezos. This level of engagement is exactly what members of the Web3 community are seeking. A structure like this not only fulfills members but it also empowers the type of collaborative innovation that keeps Tezos on the bleeding edge of technology.

Unlike Bitcoin and Ethereum which are Proof-of-Work blockchains, Tezos is a Proof-of-Stake. Proof of Stake (POS) uses randomly selected miners to validate transactions. Proof of Work (POW) uses a competitive validation method to confirm transactions and add new blocks to the blockchain. Proof-of-Stake requires significantly less energy and cost to operate, which makes it an ideal alternative platform for building blockchain applications that are eco-friendly. Additionally proof of stake requires much lower Gas fees to power the network which opens the doors for increased adoption. Fees take capital away from the creators, and Curios main mission is to empower creators. 

Curios along with members of the Web3 community believe that

Tezos has the potential of evolving faster than Ethereum 2.0. The Web3 movement is on an  ever-changing path to progression so scaling responsibly requires a more energy-efficient approach. Tezos delivers on this today and Curios is happy to begin deploying Tezos NFT solutions for its platform.