Tezos Confirms Beta Release As Bitcoin Suisse Adds To Lawsuit Controversy

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Decentralized application and smart contract platform Tezos has announced “final preparations” for its beta release.

Tezos Beta, Mainnet On Horizon

The embattled project, which has faced multiple delays, infighting and even consumer lawsuits since its $232 million ICO ended in July 2017, pledged to debut its mainnet release following the successful beta rollout.

The custodial Tezos Foundation confirmed the move in a press release and on social media May 29.

The betanet is coming! It is important that all contributors verify their donation. Visit https://t.co/uAZ5E5HRWF to learn more. #tezos #tezoslaunchhttps://t.co/rV6KGVOCNr

— Tezos Foundation (@TezosFoundation) May 29, 2018

“After reaching fundamental milestones in recent months, the Tezos Foundation is excited to announce that final preparations for the Tezos beta network («betanet») are underway,” the release reads.

As launch approaches, the Foundation will make further announcements with additional details on its official website.

Lawsuits Swirl As Bitcoin Suisse Denies Involvement

Tezos continues to grapple with the aftermath of several consumer lawsuits which disgruntled investors in the project launched in recent months.

Disputes between the project’s creators and the Tezos Foundation served to deaden confidence that a finished product would emerge, with major backer Tim Draper nonetheless avoiding suggestions there were any problems.

This month, Bitcoin Suisse, which became embroiled in the legal disputes after offering brokerage services to Tezos, claimed it was never part of the ICO in an official court filing.

Meanwhile, ahead of the beta launch, Tezos is demanding that ICO investors “verify” their contribution using a dedicated tool.

“A genesis block will be proposed by the Tezos Foundation at betanet launch. To prepare for this, it is imperative that all contributors verify their donation—regardless of size—to confirm that it was received by the Foundation,” the release confirms.

Investors will enter their public key hash to check the Foundation has a record of funds sent. Each corresponding hash formed part of the PDF contribution certificate each received upon successful contribution to the ICO.

What do you think about Tezos’ progress? Let us know in the comments section below!

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