About Tezos

Tezos Coin Review: Mining Guide, Price & Analysis of Tezos Cryptocurrency

Tezos is a blockchain platform that allows developers launch their own decentralized applications. Much like Ethereum, Tezos uses smart contracts. The goal behind Tezos is very simple. The developers wanted to create a blockchain with a self-regulated governance.

Consequently, Tezos has a decentralized community-driven consensus mechanism. The Tezos team wants to build a blockchain that is more reliable than Bitcoin and Ethereum. As it stands, Tezos is treading in the right direction.

Tezos is proving that it can exist in the same space as the leading blockchains. It currently ranks 19th in market cap share. This is very impressive for a project with only two years in the market.

Moreover, it overcame some controversy before getting to the market. This shows that they are doing something right. Users are usually skeptical about adopting projects baked in controversy.

The XTZ token powers the operations on the Tezos blockchain. The versatility of the Tezos blockchain is very intriguing to developers and enthusiasts. Hence, the XTZ token is seeing some success in the market.

How Tezos Works

The Tezos blockchain functions much like traditional blockchains. However, it has a unique structure that uses a network shell. This is a native middleware. This design allows the blockchain to be modular and flexible. This means it can easily evolve based on the rules that the developers set.

Here is how changes land onto the platform. A developer proposes some changes or upgrades to the Tezos protocol. The community then votes on the proposed changes. If passed and adopted, the developer receives a reward in XTZ tokens.

This process is very beneficial. It makes Tezos one of the most decentralized blockchains in the market. Maintenance and development of the network are community-based. The reward system encourages developers to participate in this process.

Tezos uses formal proofs to verify the critical properties of the blockchain remain constant. Moreover, Tezos allows the creation of bounties on-chain. This keeps the system working at optimal. This is because developers spot and eliminate bugs very fast.

Can Investors Mine Tezos Coins

No, it is not possible to mine XTZ coins. Tezos uses the Liquid Proof of Stake to maintain consensus on the blockchain. It is a variation of Delegated Proof of Stake consensus.The DPoS allows coin holders to choose validators through voting. The validators confirm transactions and record them on the distributed ledger.

LPoS is a little different. First, you have to own enough coins to show that you have a stake in the project. Then you can set up a node and stake yourself in case you have 10,000 tokens. You make around 5-10% interest for staking. This is currently the highest reward on the PoS model in the market.

Baking is the process of creating a new block on the chain. The staked coins make sure the baker abides by the rules. It has one of the easiest block creation processes around. This is because the system uses a functional coding language OCaml. It gives the blockchain a high level of flexibility.

The Team behind Tezos

Tezos is a product of a great team of cryptocurrency enthusiasts. One of the creators of Tezos is Arthur Breitman. Arthur is a French computer scientist, mathematician and entrepreneur. He was an early adopter of Bitcoin but soon saw its flaw. His proposed improvements gave birth to it. Moreover, he previously worked as a research engineer for Google X. He was also a quantitative analyst at Goldman Sachs.

Another creator is Kathleen Breitman. She is the CEO of Tezos. She previously worked as a senior strategy associate of blockchain consortium R3. Additionally, she has experience working at Accenture, Bridgewater Associates and the Wall Street Journal.

These two individuals have tones of experience to lead any project to success. This makes the Tezos team one of the most formidable teams around. Moreover, the other team members have significantly important experience in a range of areas. This project is in safe hands.

The Controversial History

It is important to understand the history of Tezos. It, in part, determines if the public will trust Tezos. After it had its ICO, it had some internal issues. One member of the board of directors took control of the assets of the foundation.

The Breitmans went to war in court, attempting to regain control of the assets. During the time at court, investors could not access their purchased tokens. Eventually, the Breitmans regained control of the company, and they went back to smooth operation. This was a terrible start to Tezos. However, they have been able to bounce back in a significant way.

Privacy and Security

The Tezos network has several impressive security features. First, the Proof of Stake protocol helps the network remain at a consensus. This means that the system can recognize any alteration very fast.

Moreover, It's a decentralized blockchain. This means that transaction records are not on a single centralized database. Nodes on the blockchain work together to keep the system secure. If any node faces an attack, the neighboring nodes help it recover.

Further, It employs cryptography to secure critical data on the blockchain. These are standard blockchain security features. But it goes even further. They ensure security on their smart contracts through formal verification.

Privacy standards remain the same as those of other blockchains. Transactions are transparent in the public ledger. However, they are immutable.

Our Take on Tezos

Tezos is an impressive blockchain project. Its architecture allows it to evolve and be flexible. This is in line with Satoshi Nakamoto’s vision for Bitcoin. He intended for the blockchain architecture to enable evolution.

Moreover, it has a high decentralization level. This is fascinating to cryptocurrency enthusiasts. This is why the XTZ token is seeing great success in the market. It's versatile and secure.

However, It's not perfect. It started out with controversy. Most investors could not access their assets. This may make many people worried.

Advantages

• It has a high level of decentralization.
• Tezos is fast and secure.
• It has a dedicated community backing it up.

Disadvantages

• It has a complicated history.
• It has stiff competition in terms of dApp platforms.

How to Buy Tezos Coins

If Tezos is impressive to you, then you may consider adding it to your portfolio. There are several exchanges you can purchase the coins from. Some of the best exchanges to use include Binance, Huobi Global, Bitfinix, HBTC and Dsdaq.

The current price of Tezos stands at $2.16 for one XTZ coin. The price is somewhat volatile and changes with time. Consequently, you may want to hold your coins to sell them at a later date. Some wallets you can use to hold your Tezos coins in include Trezor, Tezbox, Kukai and Wetez.

Final Verdict

XTZ coins currently hold the 19th place in market cap share rankings. This does not come easily. It shows that the cryptocurrency community approves of the Tezos blockchain. It is versatile, secure and very reliable. Moreover, it has high levels of decentralization.

It is impossible to tell the direction it will take. However, it looks like it's currently succeeding. As it stands, it is a great investment.