Tezos is a blockchain developed to support smart contracts. However, unlike other smart contract platform Tezos takes this concept one step further by allowing participants to directly control the rules of the network. Tezos is intended to be a continuously evolving network. The flexibility which comes as a result of this intention is an important aspect of the system. Other cryptocurrencies lack flexibility and have had problems adapting to new developments. Development of the Tezos blockchain started in 2014. The ICO was held in 2017 during which it raised around $230 million USD within two weeks, making it one of the largest ICO's of all time.