1H
0.03%$0.0001
24H
2.62%$0.0100
7D
-3.58%$0.0145
30D
-34.4%$0.2050
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.
Many people invest in cryptocurrencies to make a large profit, but there is always the risk that they could lose everything they’ve put in. To measure the risk/reward ratio of cryptocurrencies, we will discuss the fear and greed index and how it can be used to evaluate different cryptos.
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