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Tezos (XTZ) is being launched by husband-and-wife founders Arthur Breitman and Kathleen Breitman. Tezos is still in prelaunch, having been beset by a number of delays developing the protocol and consumer lawsuits following the ICO in July 2017, which raised $232 million, one of the largest ICOs to have been launched.
Tezos uses a Proof of Stake (PoS) protocol and Formal Verification using Michelson, a high-level functional language with closures, etc which mathematically prove the correctness of the code governing transactions. This in turn enhances the security of the most sensitive or financially weighted smart contracts.
According to the Tezos foundation Twitter account, ICO donators (contributors) are being asked to verify their donation and their public key hash in preparation for inclusion in the genesis block at launch. Notably, no date of the launch is yet available.
Controversially, FINRA suspension could hold consequences for Tezos, as Arthur Breitman is now barred from the securities industry for two years. If Tezzies (Tezos tokens) are deemed securities, all ICO projects would have to be registered with the SEC. Some venture capitalists are lobbying for exemptions for some tokens to be categorise as “utility tokens” rather than securities.