Thread by @WeissCrypto

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#Tezos has made phenomenal gains recently. So let's take a look at the tech and see what it's all about.
#XTZ $XTZ

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Consensus:
Tezos uses Proof of Stake. Nodes that produce blocks are known as bakers. Bakers are like miners. They need 10,000 XTZ to bake blocks, but the average user only needs 512 XTZ to delegate to a baker. You don't need to be a baker to get baking rewards.

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Scalability:
Block time is 1 min, with the reward of 16 XTZ. The max TPS is 40, but Tezos will scale by:
- Marigold, a sidechain solution
- ZK rollups like Plasma sidechains
- Payment channels like the LN
We estimate Tezos is able to achieve 1000+ TPS with these solutions.

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Interoperability:
Tezos' philosophy is not to interoperate with other chains, but to self-amend and upgrade itself, so interoperability options are limited. But Tezos has Atomex (atomic swaps) and Dexter (a Uniswap type DEX). It may adopt the Tendermint engine in the future.

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Governance:
Tezos' greatest strength is its ability to self-amend to incorporate new features. Governance follows a 4-step process of proposal, exploration, testing, and promotion to mainnet. Since inception, Tezos has implemented 2 protocol amendments.

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Smart contract platform:
The programming language Michelson uses formal verification, which means safer and more secure smart contracts.

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Pros: Strong ability to amend itself to incorporate new changes.

Cons: Scalability and interoperability need work.