Cryptocurrencies have completely reinvented the way we look at transactions and assets. Blockchain has opened the doors to faster and more ways to receive money. Check out this BTC Trading Inc review of Tezos XTZ, one of the many altcoins that are currently in the market today.
When it comes to the easier upgrading of blockchain, Tezos set itself as an innovative self-amending decentralized platform for decentralized applications or dApps building. XTZ is Tezos’ native coin, and although it’s quite similar to Ethereum, Tezos has an on-chain governance network. It permits XTZ holders to vote on the future direction of the system.
The People Behind Tezos
Arthur Breitman and his wife, Kathleen Breitman, founded Tezos while they were in San Francisco. Arthur is a mathematician and computer scientist who worked for Morgan Stanley, Goldman Sachs, and some other large financial establishments.
They made the company hoping to find a solution for future cryptocurrencies. Because of the lack of flexibility of Bitcoin, Arthur Breitman developed Tezos, so cryptocurrency can evolve and become flexible. With Kathleen’s deep insights about distributed database technology and financial industry experience, the couple makes a powerful force for Tezos.
What Is the Concept of Tezos?
The concept of Tezos is on-chain governance, in which the participation of all stakeholders in protocol governance is highly encouraged. It is a wild and exciting experiment because this concept is more democratic when it comes to BTC trading as what the BTC Trading Inc Review discusses.
Here’s how Tezos concept works:
- When a developer has a protocol change proposal to improve the blockchain, the invoice will be attached
- All XTZ holders will be voting on the proposal
- Once the change passed the vote, it will continue to the test network
- The change will be pushed to the primary system if all the stakeholders agree to do so
What Are the Advantages of Tezos
Tezos developed Michelson, which is a unique language used in writing smart contracts to facilitate formal verification. It’s another solution to the many cryptocurrency conundrums that riddle this decade.
Here are the advantages of Tezos:
- Prevents network decentralization
- Democratic voting system
- Secure verification
- Avoid costly bugs
Current Status of Tezos
Tezos had a lot of support because the company is facing two consecutive lawsuits. Early investors are now rushing to sell out. However, Tezos seemed to emerge from its dark era with the beta launching in September 2018. As Tezos is still struggling to attract new dApps and partners, the fact remains that the ICO of the foundation has been a significant player in the history of cryptocurrency that raised to $232 million in ETH and BTC. Let’s wait as more updates come in 2020.
BTC Trading Inc review Tezo’s unique concept brought its name to the pedestal in crypto history, making billions of dollars in ETH and BTC. Because of the research and education that Tezos focuses on, the mass adoption of cryptocurrency in the future is becoming more promising, preventing depreciation and embracing the latest innovations.