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What Is Tezos ?

Tezos is a decentralized, open source blockchain technology for smart contract and decentralized Apps providing governance mechanism. The governance model is a self-evolving one, and not ad-hoc, and that’s why Tezos is regarded as “self-amending blockchain”. with slight noticeable improvements over similar platforms like Ethereum.

Tezos (XTZ) is built in a modular style and has self-amending crypto-ledger, and this is achieved through ‘Network Shell. The network shell is responsible for blocks, transactions and the protocols.

The Tezos (XTZ)’s  blockchain protocol can be classified into three layers, namely:

  • Network Protocol- takes care of peer communications and broadcasting between nodes.
  • Transaction Protocol- takes care of the transactionallayer and the accounting model like UTXOsfor Bitcoin.
  • Consensus Protocol-as the name implies is to reach agreement on the level of transactions.

The main features of Tezos are:

  • Self-Amendment-this helps in upgrading the blockchain without hard forking. The hard fork has a damaging effect on the network in which the community is built.
  • On-Chain Governance-this is a platform to implement protocol amendment and voting process. It rests entirely on stakeholders, who participate in the governance of the protocol and the voting process.
  • Smarter Contracts & Security- Tezos uses functional programming language for DApps and smart contract for formal verifications of programs in other to improve the security. This helps in dealing with bugs in contract codes.
  • Proof Of Stake. Tezos uses delegated proof of stake consensus over blockchain. This improves transaction rate and the process of staking called baking.

Tezos Team

The Tezos team has an amazing couple as its co-founders who have withered the storm to take Tezos where it is today. Arthur Breitman and Kathleen Breitman have verse experienced in technology and administration.

Other members of the team include Vincent Benardoff, Bozman Cagdas, Benjamin Canou and Pierre Chambart.

You can visit the official website for more information about the team and the advisors.

Uses of Tezos (XTZ)

  • Tezos (XTZ) is used for the development of decentralized
  • Tezos (XTZ) provides a model to build other blockchains.
  • XTZ token is traded in the cryptocurrency exchange market.
  • It can be used for electronic voting

MINING of Tezos (XTZ)

Tezos (XTZ) uses what is referred to as “baking system” instead of mining. Bakers make deposits and are rewarded for publishing blocks and signing up. Blocks validation is carried out, and bakers who are dishonest lose their XTZ tokens.

There is no official Tezos wallet; it supports only Ledger Nano S and TezBox.

Another way to get XTZ is by purchasing them in one of the cryptocurrency exchanges that trade XTZ. The exchanges Include HitBTC, Gatecoin and many others.

 

 

 

NOTES FOR INVESTORS

Tezos (XTZ)  is one of the promising cryptocurrencies in recent time. Presently, the unit price of Aurora (AOA)  is USD 1.34 while the market cap is USD 811,115,382, the circulating supply is 607,489,041 XTZ and currently ranked 18th in the cryptocurrency market. It has enjoyed some form of stability over the last two months.

The statistics show that the Tezos (XTZ) ’s performance is on the increase and likely to hit USD 2.50 before the end of the year 2018.

One thing that could make Tezos (XTZ)  the next hit is that it has a strong use case in industries

Tezos (XTZ)  seems to be a good investment that, no serious investor will overlook.

Quick Disclaimer:

This report is the writer’s expression of views on Tezos (XTZ)  and is never intended to endorse the Tezos (XTZ)  cryptocurrency for investment. Whatever you do with this report is solely your discretion. Do thorough research and consult widely before investing.