Cryptocurrency investments have gained immense popularity in recent years, with Tezos (XTZ) emerging as a prominent player in the market.
Cryptocurrency investments have become increasingly popular in recent years, with Tezos (XTZ) emerging as a prominent token in the market. As you embark on your journey in this volatile but potentially lucrative space, having essential information and resources at hand can be invaluable.
What is Tezos (XTZ)?
Tezos is a decentralized blockchain platform designed for facilitating smart contracts and decentralized applications (DApps). It is known for its unique self-amending protocol, which allows for on-chain governance and upgrades without the need for hard forks. This contrasts with other blockchains that require community agreement for any protocol changes, which can sometimes be a subject of contention.
A Brief History of Tezos
Launched in 2018, Tezos was founded by husband and wife duo, Michel and Katherine Hazewinkel, along with renowned computer scientist, Pascal Michelson, who developed the smart contract language, “Michelson,” for Tezos. The project gained attention for its successful initial coin offering (ICO), raising over $230 million—one of the largest crowdfunding campaigns in history.
The project’s founders envisioned a blockchain that could evolve organically with the collective wisdom of its stakeholders. To this end, Tezos’ unique on-chain governance system allows token holders to propose and vote on protocol upgrades directly through a decentralized manner. This stands in contrast to other blockchain platforms where governance proposals must be compiled and deployed by developers.
In addition to its governance capabilities, Tezos is recognized for the security of its Liquid Proof of Stake (LPoS) consensus mechanism, which contributes to the network’s resilience. Moreover, Tezos supports Turing-complete smart contracts, providing developers with the flexibility to build diverse decentralized applications.
Key Features and Advantages of Tezos
* On-chain Governance: Tezos token holders can propose and vote on protocol upgrades, ensuring a dynamic and adaptable network.
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