Tezos is on fire, moving up from 45 cents a week ago to a high of over 60 cents. The change in bitcoin’s price probably isn’t enough to do that by itself, and Tezos has been charting steadily in both markets in the same direction. Luke Martin, a trader and analyst, asked the question first:

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Tezos sports on-chain governance. Ethereum founder Vitalik Buterin spoke to such models yesterday in a podcast. Buterin believes that on-chain governance may be overrated, while the governance model used by Ethereum is currently underrated.


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DECENTRALIZED GOVERNANCE IS ALL THE RAGE



Tezos founder Arthur Breitman recently pointed out that Tezos is partly responsible for increased interest in blockchain protocol governance:



Much of the renewed interest in Tezos stems from its Athens protocol upgrade, which is the first on-chain upgrade to feature an “invoice.”



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Nomadic Labs explains that a small fee of 100 Tezos will be paid by the network to the developers. It’s an example of how protocol development can be funded in the future. The money is generated by everyone that holds Tezos. In the case of this particular upgrade, it boded well. The Tezos token has seen a lot more demand in the past couple weeks.



On-chain governance is all the rage. Tezos requires a multi-stage process and maximizes coin holder engagement to ensure the protocol moves in the direction its holders want. One aspect of the Athens upgrade that has seen some pushback is the elimination of “spendable contracts.”



The change means that contract holders can no longer create contracts allowing them to move money out without checks and balances in place. Arthur Breitman wrote a justification for this, explaining:



TL;DR the most pressing action item is to amend the protocol to prevent the creation of code carrying, spendable, KT1 addresses. The rest of the changes can follow.