What is Tezos (XTZ)?

Tezos (XTZ) is a blockchain project that has built-in governance mechanisms to upgrade the network. To make changes to the Tezos blockchain, holders of a certain number of tokens send coded offers. When a sufficient number of offers are received, a vote is taken. Thanks to the self-evolving capability of the Tezos protocol, the network is easily upgraded without the need for hard forks. In July 2017, Tezos raised $232 million, making it one of the largest fundraising projects in the history of cryptocurrencies. The Tezos mainnet, launched in 2018, has performed well during the bear market.