EB136 – Arthur Breitman: Tezos – A Self-Amending Crypto-Ledger

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The lack of a specific governance mechanism has actually produced deep problems for Bitcoin. Ethereum, with the DAO-related soft/hard-fork discussions, might face similar obstacles ahead. Yet, currently in 2014 Arthur Breitman quietly started dealing with cryptocurrency network Tezos that has a specific mechanism to let coinholders vote on protocol upgrades.

Our conversation with Breitman focused around how specific governance could cause a more protected and evolutionary method. We also went over Tezos’ technique to smart contract that attempts to avoid bug-riddled and insecure clever contracts such as the DAO which has tossed Ethereum into a deep crisis.

Subjects covered included:

  • Why stakeholders voting on forks can avoid agreement attacks
  • The mechanics of Tezos’ governance
  • How an upgrade system might allow Tezos to rapidly and significantly progress
  • Why the programs language where wise contracts are written is essential for security
  • Why a functional language that enables formal evidences such as OCaml is more fit for smart agreements than Ethereum’s solidity
  • The roadway ahead for Tezos

Links mentioned in this episode:

  • Tezos website
  • Tezos position paper [PDF]
  • Tezos whitepaper [PDF]

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