TzLibre, a hard-capped fork of the Tezos idea, has officially launched its TZL token. All Tezos ICO contributors can now exchange their TXZ coins for TZL.
TZL, TzLibre’s token, was officially launched yesterday, June 4th. TzLibre represents itself a hard-capped fork of the Tezos idea.
The project was formed by fans of Tezos, who found themselves disappointed with the execution of how DLS-Tezos was handled. That was why the team decided to fork with the TzLibre project as an alternative to the DLS-Tezos blockchain.
The project is marketed as a fork of DLS-Tezos for Tezos contributors by Tezos contributors. Its main mission is to protect financial interests of contributors, and prevent funds from being mishandled.
With the original Tezos project, 20% of tokens were assigned to founders. TzLibre removed this, and reallocated the coins to network validators. This move will give supporters of the network incentive to keep the ecosystem going.
Also, a hard cap of tokens has been set at 763 million tokens. In the first implementation, there was no maximum coin supply.
Tezos’ original governance model has been reworked to prevent abuses of power like inflating the coin supply, censoring specific transactions, and even freezing whole accounts outright from occuring.
The rework comes from a series of eternity clauses, acting as a hardcoded Constitution. Similar to real constitutions, these clauses will protect basic rights like transaction immutability.
Users vote with their coin stake, with all voters being equal. Founders of the project are pseudonymous, like Satoshi Nakomoto. This helps keep the project’s best interests in front, as it protects developers from external pressure and coercion. The developers also step down as the community matures.
The strength in numbers can already be observed. TzLibre has also teamed up with two like-minded companies – Ethereum Commonwealth and ZClassic. Both projects have expertise with blockchain forks. Additionally, TzLibre will work with ZClassic to raise public awareness regarding centralized blockchains, which are run for profit by private companies.
The new project has been met with opposition. TzLibre is banned from all original community outlets, and are unable to reach Tezos ICO contributors through Reddit, Riot, and Telegram.
The moderators for these communities take the effort a step further by spreading misinformation regarding TzLibre, and has even convinced unaware users to provide private contribution data for the purpose of creating confusion.
Tezos ICO contributors are still able to receive TZL coins at a 1:1 ratio with their TXZ coins, by going to their website and following the whitelist process.