Tezos (XTZ) — a multifunctional decentralized blockchain platform with support for smart contracts, the ability to create tokens and decentralized applications.
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What is Tezos (XTZ)?
Tezos will offer the most advanced infrastructure, which means the platform can improve and evolve over time without the danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered from since their inception.
This open source platform bills itself as “secure, updatable and durable” – and claims that its smart contract language provides the precision, required for high-value use cases.
Platform features
According to the developers of the project, its approach means that it has appeared for the future and “will remain modern in the future”, which means that it can cover developments in blockchain technology.
Key features:
| Vote | XTZ owners can vote on protocol upgrade proposals, put forward by the project developers. |
| Cooperation | In September 2020, it was announced that French banking giant Societe Generale plans to use this blockchain to experiment with central bank digital currency. |
The Tezos protocol supports the ability to upgrade the network without having to split into two different blockchains (hard forking). Thanks to this, the project easily adapts to changing regulatory and technological conditions constantly. In turn, the protocol provides for the possibility of amending and continuing work in such cases without any problems.
Buying cryptocurrency
Like other blockchains, Tezos uses the Proof-of-Stake consensus mechanism. Anyone can become a validator and contribute to the smooth operation of the network by depositing a deposit. To encourage fair behavior, rewards are given to those who work in the interests of the blockchain, and those who act dishonestly risk losing their share altogether.
Also, the XTZ token, known as "tez", can be purchased on most major exchanges. The token sale for Tezos was held back in July 2017, and during this ICO, a total of 65,681 BTC and 361,122 ETH were raised.
XTZ, also known as "tez", can be purchased on most major exchanges, including:
- Biinance;
- OKX;
- Mandala Exchange;
- Bitget;
- BitCoke.
Trading pairs combine XTZ with fiat currencies as well as other cryptocurrencies such as Bitcoin. You can store XTZ tokens, using the most famous wallets, including software wallets such as Trust Wallet. You can also store XTZ on Ledger or Trezor hardware wallets, using third party software.