-[Female voice] The first lesson. What is Tezos? Tezos is a kind of security, open participation and Encrypted currency and blockchain created by scalability. It started in 2014, Existing blockchain was discovered at the time Lack of methods for coordinated decision-making and upgrades. In other blockchain communities, Developers and miners are concerned about the division of communities, Network forks and slow changes in innovation Arguing endlessly. Tezos aims to introduce Formal governance process To solve these problems. Today, Tezos users often call it A true digital federation because it aims to Allow all stakeholders to participate in decision-making. In order to achieve this goal, Tezos is secure in smart contracts, open participation and Three aspects of scalability Innovated. Let's take a look at the first one. Smart contract security. What is a smart contract? Smart contracts live on the blockchain Computer program. They make processes that usually require intermediary Automation and decentralization. For example, this is Emma.
She wants to in the year starting today, Give her friend Peter some cryptocurrency. For this, she can pay for real hosting services Come to keep her money and process the transaction. Or conversely, she can transfer the money Import the smart contract on Tezos, The contract will automatically handle the entire transaction for her. While allowing peter Verify the funds and the date he received the funds.
As smart contracts sometimes manage A lot of money, Therefore, the security of smart contracts is very important. Hackers may find errors in the contract code, And use it to access the funds in the contract. Or, people may send money to incorrectly coded Smart contract, which can never be retrieved. Both of these problems have occurred on other blockchains in the past, And still mainstream adoption Obstacles to cryptocurrency. To prevent this from happening, Tezos promotes formally verifiable Smart contracts to improve security. Formal verification is a technique that enables developers Can mathematically prove the correctness of its code And make sure its behavior meets expectations. It's in the domain of relying on mission-critical code, Such as aerospace, Nuclear energy, transportation And the financial industry is becoming more and more useful. Formally verified smart contract Less prone to errors, these errors It may result in loss of funds due to errors or cyber attacks. Emphasis on safety makes Tezos special Suitable for payment as well Other high-value transactions and applications.