B.I.S.S Research White Papers

A Brief History of Tezos (XTZ)

Robert Morel

Robert Morel

Robert Morel is a Full Stack Software Developer. Specializing in legacy applications. I have a particular interest in server management, operations and provisioning of deployment pipelines.
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Within the crypto industry, Tezos has the reputation of being the cryptocurrency that was created to correct the pitfalls of bitcoin and is also famous for its somewhat turbulent history leading up to its launch.

While Tezos sits comfortably among some of the more popular altcoins in the market, it is important to understand just how it is all started. 

Tezos is the brainchild of a man named Arthur Breitman who is a computer science and physics graduate as well as a graduate of applied mathematics. There was also some contribution from his wife Kathleen Breitman who he met in New York in 2010.

Tezos first came on the scene in August 2014 when the white paper was published by Breitman in which certain pitfalls of bitcoin were spoken of. There was also the prediction made that in the future, tokens would be mass-produced. Tezos, by its very design, is a self-amending cryptocurrency, with changes being voted on by the community.

Tezos is also famous for its ICO which was held on July 1, 2018, and lasted 13 days. The ICO raised a record 66,000 bitcoins and 361,000 ether which was worth $232 million at the time.

Despite this record fundraising, The project did face some pitfalls due to the fact that the funding company behind the ICO, the Tezos foundation, was not dispersing the funds that were raised. This was due to personal disagreements between the founders of Tezos and the management of the foundation. The Breitmans went through a back-and-forth dispute with Johann Gevers, who was the president of the Tezos Foundation due to his refusal to disperse the funds.

The issue was eventually settled with Gevers leaving the company with $400,000 in severance and Tezos finally launched in September 2018.

Click here to learn about the applications of XTZ and use case for Tezos

Robert Morel

Robert Morel

Robert Morel is a Full Stack Software Developer. Specializing in legacy applications. I have a particular interest in server management, operations and provisioning of deployment pipelines.
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