Tezos with the short name of XTZ is a blockchain network uses a digital token called tez or tezzie. It uses proof-of-stake algorithm, means that it’s not a mining based token. Instead the token holders get reward for taking part in the proof-of-stake consensus mechanism. Although Tezos faced with numerous legal issues and followed by price declines, it had a highly successful ICO (initial Coin Offering) among other tokens. It could attract investors to itself cause of its futuristic features it has. Tezos could record highs in early 2020 and could give a reasonable profit to its investors.
What Is Tezos?
Tezos announced in 2014 by previous Google X’s research engineer Arthur Breitman and Kathleen Breitman and finally launched in September 2018. It could get a lot of attention and investors immediately cause of its futuristic features. Although Tezos and Ethereum have similarities, Tezos has a few unique features that distinguish it from Ethereum. The most important one is the network’s on-chain governance that allows holders of Tezos tokens to vote on the network’s future direction.
The voting and self-amending features is designed to avoid any hard fork to happen in the network. In fact, the self-amending feature makes it a different project from Ethereum or other similar cryptocurrencies and make its blockchain to be able to upgrade easily and be always open to adding the latest innovation to its network.
How would be its future
Although Tezos was facing with numerous legal issues and followed by price declines in its life, the rapid rise of the price especially in February 2020 solved all those problems. All those who bought and invested their money in it, could simply sell their tokens and make profit.
It could survive the bear markets and reaching new highs so far and it proves that it could stay market for long. There seem to be no gray areas in the world of Tezos and its getting more attention as longer it stays in the market. The founders and the team behind this project are ambitious people who are doing their job really well. With the ICO concluded and the years of experiences they have now need to deliver their promises.
As last words, the ultimate fate of Tezos will depend on the value of its technological innovations and its ability to gain support and we will just have to wait and see to find out.