The Tezos blockchain is a decentralized network, that transfers its control and decision-making rights from a centralized individual or organization to a distributed network. Decentralized networks try to build the level of trust among participants with one another and the network to utilize their ability to control and upgrade the network. Tezos does not have a single particular owner but is a user-oriented blockchain.
Kathleen Breitman is the founder of Tezos, along with her husband Arthur Breitman in 2014. She received her degree from Cornell University. She is the CEO of Dynamic Ledger Solutions, the company that created the first version of Tezos.
Tezos is a blockchain with an on-chain governance mechanism that provides a smart contract platform. It was able to earn $232 million and secured its position among the biggest Initial Coin Offering of all time.
This network is used to perform different types of services as mutually exercised on a single platform, e.g., one can make a smart contract or a privacy coin in Tezos, but not both at the same time and place in other platforms. It has a truly decentralized protocol as it develops, evolves, and improves automatically according to the wishes of stakeholders, without hard forks.
Because of these features and customization for customers, its uniqueness has let it stay in the crypto market despite the significant dispute between Arthur and Kathleen Breitman (Owners of intellectual property rights of Tezos) and President Johann Gevers (Tezos’ President).
The founders of Tezos Arthur and Kathleen Breitman created Tezos and also established a Swiss Foundation back to have greater autonomy over the assets of that platform, but due to regulations of the Swiss foundation, their own board of directors secured the capacity to control the assets equal to its founders.
Foundation president Johann Gevers tried his best to dominate news regarding Tezos at that time. This is because he had locked Tezos’ assets away from the founders’ couple. After several legal actions taken by Breitmans against the president, the original founders were able to recover the control of their assets and were able to get their rights back on Tezos. What the Tezos platform offers is a strong governance model, Breitman says, which rewards developers for submitting good ideas without getting bogged down in the underlying infrastructure.
Founder’s View on Tezos Governance Model
The role of the founder in Tezos is nearly unimportant. They play a supporting role but do not drive or control their movement. Arthur Breitman considers himself a Tezos helper. He says that it is actually and realistically an internationally distributed project. It does not have a leader or owner, and that can help it to eventually supersede its rival projects. He seems to slip away from Tezos’ ownership.
Unlike other blockchains, where creators are considered ultimate owners or masters, Tezos’ founders act totally in an opposite way. This indicates that Tezos is actually owned by all its stakeholders because the founders prefer to be facilitators only.
Also read: Tezos (XTZ) Price Prediction 2021 and Beyond – Will XTZ Reach $100?
Takeaways
- Tezos is a decentralized blockchain network, with its power distributed among various stakeholders.
- Founders of Tezos, i.e., Arthur and Kathleen Breitman, do not actively behave as its owner or leader but want to be facilitators.
- Unlike other blockchains, where creators are considered ultimate owners or masters, Tezos’ founders act totally in an opposite way.
- Theoretically, Tezos is owned by all of its customers and stakeholders.