The live price of Tezos today is $1.00 USD. Tezos is up 1.23% in the last 24 hours compared to $USD. Tezos has a live market cap of $938,793,369.17 USD, and a circulating supply of 940,580,472 XTZ.
What Is Tezos (XTZ)?
Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
To learn more about this project, check out our deep dive of Tezos.
Tezos is an open-source, decentralized blockchain that promises to be “secure, upgradeable, and built to last.” It claims its smart contract language provides the accuracy needed for high-value use cases. Tezos states that its method ensures that it is futureproof and will “remain state-of-the art for a long time into the future,” implying it can keep up with blockchain development.
Tezos was founded in 2014, and its technology is based on a white paper that was published in September of that year. After a lengthy development period, the Tezos mainnet went live four years later.
Who Are the Founders of Tezos?
L. M. Goodman was the pseudonym used by historian and author Leonard Breitman when he wrote the Tezos white paper, in homage to Satoshi Nakamoto. He pointed out that one of Bitcoin’s biggest flaws was its lack of a governance process that solicits input from the community who utilize the network, as well as the inability to create new tokens through this blockchain.
He and his wife Kathleen founded a startup company to write the code that would support the Tezos network. This company was later bought by the Tezos Foundation so that it could own all of the intellectual property related to the network.
What Makes Tezos Unique?
Despite the fact that staking is popular across blockchains, Tezos has a particular spin on the process. Participants can get involved with network governance by “baking,” which entails putting 8,000 XTZ on the line. This generates a financial incentive to act truthfully.
Bakers are required to cast their votes in a four-step procedure that takes around 23 days on proposed changes to the blockchain’s code. If a proposal is supported by the majority of participants, it is put through its paces on a testnet for 48 hours and implemented if it receives support from a super-majority.
Tezos is unique because it is being used by businesses. In September 2020, a French bank announced that it planned to use Tezos for experimenting with a digital currency.
Binance and Coinbase, two of the biggest cryptocurrency exchanges, have started to offer rewards for people who hold XTZ. This is not a common feature among other digital assets.
How Many Tezos (XTZ) Coins Are There in Circulation?
Our data shows that 940,580,472 XTZ are in circulation at the time of writing.
The Tezos ICO was postponed until July 2017 — and during this event, 65,681 BTC and 361,122 ETH were collected. This ensured that it would become one of the most significant initial coin offerings ever conducted, having raised $232 million at the time.
The Tezos Foundation and Dynamic Ledger Solutions got 20% of the first batch, with 80% going to investors. Some dissatisfied investors launched a number of legal challenges against XTZ, claiming that it was unregistered securities. The mainnet’s launch was delayed owing to a succession of lawsuits filed by disgruntled investors, who claimed that XTZ constituted unregistered securities.
How Is the Tezos Network Secured?
Tezos uses a proof-of-stake consensus mechanism, like other blockchains. Anyone can become a validator and help to maintain the network by depositing money as a security deposit. Those who work in the best interests of the blockchain are rewarded, and those who act dishonestly risk losing their entire stake.
Where Can You Buy Tezos (XTZ)?
XTZ, also called “tez” for short, can be bought from most major exchanges. These exchanges include Binance, Coinbase, and others. XTZ can then be traded with other cryptocurrencies or even fiat currencies. If you want to buy Bitcoin with fiat currency, you can read a guide here.
About Tezos Nodes
The Tezos Nodes is a reliability rating public Tezos Bakers and a service for monitoring the state of node performance for non-public Tezos Bakers. A baker reliability index was created by the team, which includes 10 crucial indicators. This index will give you all of the information you need to pick a trustworthy public baker.