According to an official statement on 30 June, the Fund Tezos has launched a beta network.
According to the statement of Tezos, the team suggested that the Genesis block for its so-called the beta network. Team Tezos also said that users can begin to validate the blocks after the first seven cycles, which, they estimate, will take about three weeks.
In a statement, the company urges community members to take precautions to ensure the security of their tokens when interacting with the beta network. Tezos warns that they will not be able to do anything, if the tokens “tezzies” (XTZ) are lost lost or stolen.
Since then, in July 2017 during the ICO, when it was collected a record amount of funds in the amount of 232 million U.S. dollars, Tezos became subject to scrutiny and numerous lawsuits related to compliance with the rules of the securities and exchange Commission (SEC). In particular, the plaintiffs argue that tokens Tezos should be considered as securities in accordance with the laws of the United States, that is, they had to be registered with the SEC.
The platform also criticized for delaying the release of the token, after conducting the ICO, when founders Arthur and Kathleen Breitman who own the intellectual property rights in Tezos, and President of the Board Tezos Foundation Johann Everson, which oversaw the raised funds, differences have arisen that have delayed the launch of the platform.