Tezos
Price
XTZ
Tezos Fundamental Analysis
What Is XTZ?
Tezos (XTZ) holds a key position in the digital asset landscape, renowned for introducing a self-upgrading blockchain. Its importance lies in providing a governance model that allows the network to adapt and evolve seamlessly, eliminating the need for contentious hard forks.
Tezos emerged on the scene in 2018 through an initial coin offering (ICO), bringing a unique approach to blockchain governance. Founded by Arthur and Kathleen Breitman, the project aimed to tackle the governance-related challenges faced by other blockchain networks, particularly those leading to hard forks.
How does XTZ work?
- Proof-of-Stake (PoS): Tezos employs a PoS consensus algorithm, selecting validators, or "bakers," to create new blocks and validate transactions based on the XTZ they hold as collateral.
- On-Chain Governance: XTZ holders have the authority to propose and vote on protocol upgrades, fostering a decentralized and community-driven ecosystem.
- Smart Contracts: Tezos supports smart contracts, allowing developers to utilize Michelson, its native smart contract language, to build decentralized applications (DApps) on the network.
Tezos operates on a self-upgrading blockchain, enabling protocol upgrades without requiring disruptive hard forks. This is made possible through on-chain governance, where token holders actively participate in decision-making processes to propose and approve amendments. The native cryptocurrency, XTZ, fuels the network and plays a crucial role in the governance structure.
Value Analysis of XTZ
- Self-Upgrading Capability: The ability to evolve through on-chain governance sets Tezos apart, mitigating the need for contentious hard forks.
- Community Governance: Active participation of XTZ holders in decision-making creates a decentralized and community-driven environment.
- Energy Efficiency: Through PoS, Tezos offers a more energy-efficient alternative compared to traditional proof-of-work consensus mechanisms.
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Release Time：
2017-10-06
