1H
-0.59%$0.0034
24H
0.01%$0.0001
7D
0.84%$0.0047
30D
16.8%$0.0815
Tezos is a blockchain project that aims to offer “the world’s first self-amending cryptocurrency”. Tezos provides a formal and systematic procedure for the platform participants to vote and reach an agreement on the proposed protocol amendment, with the help of the duo on-chain mechanism and self-amendment. In addition, Tezos offers a platform to create smart contracts and build decentralized applications that cannot be censored or shut down by third parties.
In contrast to other cryptocurrencies using Delegated Proof-of-Stake, Tezos uses a liquidity Proof-of-Stake (LPoS) algorithm. It allows Tezos software to secure the network, validate transactions, and distribute newly minted XTZ. Besides, Tezos has two key components: network shell and network protocol. Network shell is the code that handles transactions, administrative operations and amends itself based on how users vote. Meanwhile, network protocol grabs the source of a new protocol (a “protocol upgrade”), compiles them on the fly, and replaces the testnet with this new protocol. It is the part of the code that sends proposals to the shell for review.
Tezos’ 2017 initial coin offering raised $232 million, the largest for such an offering to that date. The project experienced a management controversy over the use of raised funds that was described by the July 2018 Wired cover story as “the crypto world’s biggest scandal” after its resolution. Tezos launched in beta on June 30, 2018.
BMIC doesn’t have a fixed presale end date yet. The team said they want to keep things flexible and let demand dictate when it wraps up, so there’s no hard deadline to watch for, yet.
Bitcoin and other cryptocurrencies have taken the world by storm. Over the past few years, their value has skyrocketed, and more people are investing in them daily. But what exactly are Bitcoin and other cryptocurrencies? And what is the difference between coins, altcoins, and tokens? This guide will discuss the differences between these three terms and provide a comprehensive guide to understanding them!