Tezos (XTZ) – one of the most successful coins of 2017 when the ICO raised nearly 232 million USD, but also a controversial project. So what is Tezos? What special features does it have? Where to create a storage wallet and Buy and sell XTZ Coin cryptocurrency? Which exchange is reputable and safe? Should invest in Tezos coin? This article I Love Bitcoin will help you learn about this Tezos coin.
What is Tezos coin (XTZ)?
Tezos (symbol: XTZ) is a Blockchain platform self-regulating, allowing for protocol-level improvements or technology updates without the need to fork (fork) like Bitcoin and Ethereum. A special feature is that Tezos is built to support formal verification – a technique that promotes the safety of the most sensitive financial Smart Contracts with algorithms to manage transactions accurately.
The Tezos Blockchain Development Team is also working on perfecting secure, decentralized applications and applications smart contract while avoiding the political and technological problems that Ethereum or Bitcoin used to have. Tezos ensure security, correct verification, and administrative rights that allow owners XTZ coin have the right to vote on the improvement of the protocol at the deepest possible level, even change the voting rules and regulations. A network that is both decentralized and unified in changes is what makes Tezos unique compared to other coins.
How does Tezos work?
Tezos using a protocol named Seed Protocol, a form of Proof-of-Stake algorithm, so when joining Tezos’ network, Coins will be needed to confirm the block (block).
The way Tezos works is no different from other Blockchain platforms. The innovation point here is how new additions are added to the blockchain. Here’s how Tezos works:
Initially, Seed Protool will select bakers (like candidates) to participate in block confirmation, then each baker will form a bond and reward relationship with the network. , that is, the baker must deposit a certain amount of his coin to create an escrow, have the right to participate in block confirmation and receive rewards.
Each cycle will last 2048 blocks, then the network will end the contract and return the coin to the baker, and continue to choose the next group based on the number of stakes given by the bakers and so on. blockchain. This principle ensures that each baker will be honest because it has to compete for the right to confirm the block, but the operation time is only 1 cycle. The block confirmation reward is unknown so far but will generate inflation below 5%/year.
What makes Tezos different from other Blockchains?
On the official website of Tezos, it presents itself as an alternative to other blockchains like Bitcoin, Ethereum and Zcash. So what makes Tezos different from other competitors?
What sets Tezos apart is that it allows partial state to be applied and scored. This means that the rules of the ledger are self-governing. The rules of the ledger control more than the validity of transactions: they control the evolution of the rule itself.
Some of the features that make Tezos unique from other blockchains include:
- Decentralization, automatic upgrade: Tezos decentralizes the upgrade process, which is something we don’t see with any other blockchain.
- Upgrade without hard fork: Upgrades are decided by consensus of stakeholders according to clear governance regulations. Those rules are programmatically enforced to avoid political stagnation and deadlock without having to delegate or empower a core development team or a team that has disproportionate influence in the process.
Tezos . project development team
Project Tezos founded by couple Kathleen and Arthur Breitman, supervised by Tezos Foundation – an investment fund incorporated and managed in Switzerland. The Tezos Foundation is responsible for managing the ICOs and deploy these funds to develop the project. Brief about the two founders of Tezos:
- Arthur Breitman: he has a background in mathematics, computer science and economics. At the age of 18, he won a bronze medal for France at the International Olympiad in Informatics. He went on to earn degrees in applied mathematics and computer science at the École Polytechnique, one of France’s leading universities. Recently, he worked as a high-frequency trader at Goldman Sachs. Arthur is currently the CTO at Dynamic Ledger Solutions and leads a team of computer scientists and programmers building Tezos.
- Kathleen: holds a bachelor’s degree from Cornell University. She worked as an Associate Manager at Bridgewater and an affiliate strategist at Accenture and R3, an enterprise blockchain software company. Kathleen is currently the CEO of Dynamic Ledger Solutions and leads the company’s operations.
The current exchange rate of the virtual currency Tezos Coin
At the time of writing this article (October 9, 2018), price of 1 XTZ = $1.36 USD with a total market capitalization of $823,934,163 USD and ranked 18 out of CoinMarketCap. The XTZ digital currency has a total supply of 763,306,930 XTZ and currently available 607,489.041 XTZ coins circulating in the market. You can see Tezos exchange rate Coin is updated by us in real time 24/7 to understand the price movement of this coin.
See also: Real-time 1,500+ coin exchange rate table 24/7
Where is the safest place to create a wallet to store Tezos coin?
According to the information I find out, the project development team is currently Tezos Official wallet has not been released yet Tezos coin. However, you can create Tezos coin wallet on some third-party wallet platforms. Of course, the reputation will not be equal to the wallet issued by the Tezos project itself, but there are still many investors using it. Tezos wallet service parties. Below I will name some of the best wallets that support Tezos virtual currency storage:
- TezBox: The safest and best Tezos wallet currently used by many people, available web version, add-on for Chrome and desktop (IOS, Windows).
- Tezos.blue: Tezos wallet on phone (Android) but in beta (Beta).
- Kukai: An online web wallet platform for Tezos.
- Wetez: Tezos wallet on mobile phones, available versions for iOS and Android.
- Tezlet: Also a mobile wallet that supports Tezos storage, currently in Alphanet version.
In addition, to Set up a Tezos wallet you have another option is “exchange wallet“, you can store it Tezos coin on the wallets of exchanges, of course, that exchange must support Tezos trading. In the next post, I will guide you how to create a Tezos coin wallet on TezBox, the best wallet currently being used by many people. Remember to follow Blog I Love Bitcoin to update.
Where to buy and sell XTZ coin? Which exchange is reputable?
In spite of XTZ coin is one of the cryptocurrencies with market capitalization in the Top 20 on CoinMarketCap, but not many major exchanges support it yet. buy and sell Tezos, the reason may be due to the “controversies” surrounding this project being entangled in many controversies, even being sued by investors, but now all issues seem to have been resolved, especially after when Tezos released the Mainnet in mid-September 2018.
If you don’t know yet Where to buy and sell Tezos coin? then here are some exchanges that are supporting Tezos that you can use such as: HitBTC, Gate.io, Bitfinex, Coinone, Gatecoin and RightBTC. In Vietnam, there are also a few markets to buy and sell support coins buy XTZ coin in VND, but I think you should consider carefully, because of the prestige as well as the price. I usually trade coins like this on international exchanges to be safer.
Should I invest in Tezos Coin?
I always say my personal opinion on this part, the Should I invest Tezos coin or not?, so you should only refer, not consider this as an investment advice, the decision is still up to you. For me, right now I don’t invest in Tezos, but still trading from time to time, but not for a long time. The Tezos project is still in development after many controversial issues, the trading volume of XTZ coin is currently quite low.
In my opinion, you can wait a little longer, at least after the project has its own wallet platform and gives a clearer development roadmap in the future. In terms of technology ideas, Tezos has a lot of potential in the future, if the people behind the project can realize it. If you like this coin, you can still invest in the short term, but you have to find the right “entry point”, which is a reasonable price to buy.
Learn more about Tezos . coin
Epilogue
Ok. So I have finished sharing all the information about Tezos coin digital currency Then, hopefully the article will have a lot of information you need to make the right investment decision. If you feel the article “Tezos what? Where to create a wallet and Buy and sell XTZ Coin? Should you invest in Tezos?“Useful, don’t forget Like, Share and 5 star rating to support I Love Bitcoin Please. Leave a comment below if you need any help with anything. Good luck.
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