What is Tezos (XTZ)?

Official Website: tezos.com
Definition: Tezos is a blockchain platform designed for smart contracts and decentralized apps, focusing on self-amendment and governance.
Category: Blockchain, Layer 1 chain, Cryptocurrency.
What It Is: A self-amending blockchain that evolves through community governance.
Function: Enables smart contracts, dApps, and decentralized governance.
Analogy: Think of Tezos as a living organism. It evolves and improves over time through community input.
Pros: Self-amending, strong governance, low fees.
Cons: Smaller ecosystem, competition from other Layer 1 chains.
Controversies: Centralization concerns, slow adoption.