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What is the Tezos (XTZ) cryptocurrency? Project description, bidding details, course and advantages of the crypto coin
Total capitalization (as of September 18, 2019): $730.1 million
Trading volume (24h): $11,908,871
Description of Tezos
On the basis of blockchain technology, new projects are regularly created that have the potential to significantly accelerate the development of the entire industry. The Tezos cryptocurrency was created in 2014, and at the first stage of the ICO, a considerable amount of $18 million was raised. The main feature of Tezos is the ability to create decentralized applications based on it. The idea, of course, is not original, because Ethereum already exists. But there is no need to rush to conclusions, because Tezos differs from Ethereum in many ways.
The Tezos blockchain was created from scratch and is not based on any other system. The developers have created a new Michelson language, which is designed to carry out full verification of protocols. Such verification implies checking all algorithms for possible errors.
It is also important that before the appearance of Tezos on blockchain projects, a complete formal verification was not carried out. And now this innovation allows you to significantly increase the level of security of cryptocurrencies. Tezos eliminates the problems and bugs that could arise in other cryptocurrencies based on smart contracts.
The goal of the project was to finally end the hard forks and prevent the split of the community members. But then this promise had to be broken. U.S. regulators were required to identify Tezos investors and it was decided to split into two networks: Tezos and the nTezos hard fork. Investors were given a choice: show the data to the authorities and remain on the Tezos blockchain, or remain anonymous in the new nTezos.
Benefits of the Tezos Network
- The system is built on smart contracts and can be used in various business areas.
- The network is completely secure thanks to the PoS protocol (all members of the network who have a Tezos wallet can vote).
- A strong team, which consists of professionals and guarantees the quality, transparency and reliability of the blockchain.
- Analysts are predicting a price increase for Tezos in the near future.
