The $1 Billion Tezos Blockchain Is Set To Launch On Monday

The Tezos blockchain is a huge topic in this month’s blockchain news all around the globe – potentially even a larger one than the recent drop of cryptocurrencies such as Bitcoin and Ethereum. The main reason for this, however, is obvious – the experimental phase of this blockchain is soon to conclude and we will see it live in a matter of days.

According to a recent announcement by the Tezos Foundation, the blockchain protocol will be officially launched on Monday. At that point, the platform will no longer be in beta and will be fully operational and ran by its community.

The only issue that remains now is the designation which is a semantic one. Tezos launched a mainnet, or a live version of its software at the end of June, and since then the XTZ tokens have been tradeable.

Technically, the blockchain could still have been paused for maintenance at any time, even though it was being used as intended throughout that time. According to Ryan Jesperson of the Tezos Foundation:

“We have been happy to see the network operating smoothly and efficiently over these last few months. The community has been actively engaged, with more than 400 validators (‘bakers’) scheduled for an upcoming cycle and the community has been developing an array of exciting technologies.”

Jersperson also published a large update on the Foundation blog recently, detailing business updates such as auditing and grantmaking. As he wrote:

“The turnaround was complex, occurred at high velocity and had us all intensely focused on success. To its credit, the entire team worked through the turmoil and produced exceptional work.”

Since Jersperson took over the company, the Tezos Foundation has partnered with the major auditing firm PwC, actively funded academics, community members and entrepreneurs and set up the first set of validation notes on which to launch the network.