When this coin was launched, it had one of the biggest ICOs at the time. The company was able to sell the coins for $232 billion in ETH and BTC in less than two weeks. The success of this event helped to market the coin and project as it made international news.
A Bit About Tezos
This project was started by Arthur Breitman and Kathleen, his wife. The project allows for the creation of smart contracts and NFTs, and it cannot be forked. Participants in this ecosystem are incentivized to act honestly through the 'baking' process, where they effectively stake 8000 XTZ. Baking allows participants to also get involved in the governance process of the ecosystem.
The native coin of Tezos, a powerful chain and the official digital collectables partner of Manchester United FC.CryptoLists.com
According to the whitepaper of this coin, there is no cap to the number of XTZ coins that can exist. Initially, the company destroyed addresses that sat dormant for over a year, but an update to the network has meant that dormant addresses will only be restricted from staking. This is because using such addresses would slow down the consensus mechanism if they were used to create blocks.
Utility of Tezos?
This cryptocurrency is primarily used for governance on the network. Members of the ecosystem can submit a proposal with the technical details of the upgrade. The proposal should also include the compensation required for the implementation of the changes. Upgrades have to be tested multiple times before they are voted on, and you will only be able to vote if you own a number of XTZ coins.
Tezos coin is also meant to be used for staking, a process which ensures that the network is secure. Proof of stake is seen by many as preferable to proof of work because it consumes a lot less energy and is, therefore, better for the environment. Members of the ecosystem can also pay for services and execute smart contracts with this altcoin.
Tezos Price details
BNB Contract address: 0x16939ef78684453bfdfb47825f8a5f714f12623a›› Details & Tokenomics
Advantages of Tezos
+ You can earn these coins by securing the network.+ It is marketed very effectively.
+ The Tezos project has a resilient online community.
+ Holders can delegate their coins to earn partial rewards.
+ Tezos is managed by a competent and trusted team.
Disadvantages
- It isn’t listed on every major crypto exchange.- Without a maximum cap on supply, its value may tank.
- You won’t find many wallets supporting the coin.
- Few addresses hold a large number of XTZ coins.
- Dormant addresses are excluded from staking.
Costs
▪ Rated at 8.8/10Tezos has very low transfer fees, and these costs have to be paid out in Tez (XTZ) coins. The highest fee recorded for a transaction on the blockchain is about 2 Tez, which is currently equal to about $2. In most cases, you will be able to pay a fee of less than $0.05.
Reputation and Buzz
▪ Reputation rated at 8.6/10▪ Buzz rated at 8.9/10
This project has had a few scandals and issues over the past. For example, it introduced KYC requirements for investors, citing government mandates. Even with these issues, lots of people believe in the project as it has solid technology and a useful concept. Its online community is highly resilient and has stood by the project through all the turmoil. On Twitter, the project has over 456,000 followers. Its subreddit has over 71,000 members, and this community seems to be growing consistently.
FAQ
Which crypto wallets can I use to store my XTZ coins?
You can store these coins in many different hardware and software wallets. If you want to use hardware wallets, you can go for Ledger or Trezor or any of the ones we've reviewed on our site.
Who is the founder of Tezos?
Arthur Breitman is the founder of this altcoin, and he authored the white paper of the project under the name L.M. Goodman. Dynamic Ledger Solutions, a startup founded by Arthur and his wife Kathleen, was given the task of writing the code of the protocol.
How many XTZ coins are there in circulation?
There are currently more than 743 million XTZ coins in circulation at the moment. It is worth noting that there is no cap to the number of coins that can ever exist.
Where can I buy Tezos coins?
You can purchase this altcoin on various exchanges, including Coinbase, Binance, KuCoin, and eToro. Lots of decentralized exchanges have also listed the coin. You should especially use DEX platforms if you don’t want to complete KYC procedures to trade.
What is Tezos baking?
This is a process of validating Tezos network transactions. In proof of work blockchains, this process is usually referred to as mining. Network participants who are involved in baking earn XTZ coins for their efforts in validating transactions.
History of Tezos
July 2017 - The tez coin - also known as XTZ - is launched in a massive, record-setting ICO.
September 2018 The Tezos mainnet goes live.
October 2021 The company becomes a sponsor of the New York Mets baseball team.
February 2022 - The blockchain partners with Manchester United FC in England to launch the famous club's digital collectables and NFT collection. This launch occurs in November of the same year.
Screenshots from Tezos
More sites where to buy/sell/trade Tezos
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
Remember to never risk money that you can not afford to loose. Crypto currencies is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
