All Set Ahead of Tezos Blockchain Launch
Since the beta version rollout, the platform has only experienced only one outage.
Testing Phase for Tezos Blockchain Ends
Developers of the Tezos blockchain will conclude the testing phase in the next few hours. In a statement released on Sunday, Tezos Foundation notified the public that the blockchain is ready for roll out on Monday. According to the group, the protocol will no longer be in the beta version. The platform has a market value of $1 billion.
The blockchain technology went live in June this year with a semantic designation. Since the launch, clients have been trading the XTZ tokens by the firm. During this period, users of the blockchain were on the rise. However, Tezos had the rights to pause operations and carry out maintenance. It is important to note that during the testing period, the platform was serving its intended purpose.
Ryan Jesperson an official from Tezos Foundation said that it was encouraging to see the platform run without hitches. He noted that all stakeholders were involved during the testing phase. Jasperson further mentioned that they have over 400 validators.
Sources within Tezos told Coindesk that the platform experienced only one outage in July. The outage was as a result of improper validation of blocks. The outage lasted for about one hour. The developers managed to fix the issue and all has been well since then.
In the beginning, Tezos was the sole entity that validated all transactions. However, from July 20, third-party validators were allowed to work with the platform.
Prior to the launch, Jesperson had outlined the latest updates on the firm’s blog. He gave highlights on audit and grant manufacturing. He went to give challenges he experienced before his tenure.
Challenges before Tezos Blockchain Rollout
He shared the complexity around the turnaround due to focus on success. Jasperson noted that the development was done at a high speed. The entire team managed to meet the expectations.
Early this year, Tezos Foundation president Johann Gevers resigned after numerous complaints from stakeholders. He was considered as a stumbling block to the launch of the protocol back in 2017. The protocol was meant to give room to the largest ICO at the period.
After Gevers resigned, Jesperson came on board with a fresh board of directors. Since then, Tezos has inked a deal with auditing platform PricewaterhouseCoopers. Additionally, they have catered for academics of community members and innovators willing to propel the system.
TezTech is the recent beneficiary of the Tezos funding program. TezTech is a software store and together with Tezos, they have a number of projects in the pipeline. Among them, we have the trustless scaling and custody solution. At the moment, xtx has a market cap of about $882 million.