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Tezos news
About Tezos
What Is Tezos (XTZ)?
Tezos is a high-performing blockchain and open-source platform for assets and applications, with a strong focus on code security, on-chain governance, and decentralization. Tezos 2.0, the upcoming step in the evolution of Tezos, aims to improve scalability (via layer 2s), composability, and to implement support to mainstream programming languages (like Javascript, Typescript, Python, and many others).
Initially built with formal verification in mind, the Tezos protocol enables builders to avoid bugs when developing smart contracts, making it particularly suited to applications that require a high degree of security and certainty.
Tezos’ LPoS (Liquid Proof-of-Stake) consensus mechanism enables any stakeholder to take part, directly or by delegation, in the consensus process, and to be rewarded for securing the network. Rather uniquely, Tezos’ on-chain governance system also enables stakeholders to create and vote on protocol upgrade proposals. This pioneering system allows the protocol to self-amend and upgrade itself without leading to a split (or fork) in the blockchain, empowering the community without slowing down innovation.
First proposed in 2014 and launched in 2018, the Tezos Mainnet has a proven track record of running uninterrupted ever since, having earned a strong reputation for technical excellence and a supportive community.
Who Are the Founders of Tezos?
Tezos was conceived by Arthur and Kathleen Breitman in a 2014 white paper under the pseudonym L.M. Goodman in a nod to Satoshi Nakamoto, referencing a journalist who had misidentified the creator of Bitcoin.
In a previous paper, the Breitmans had argued that Bitcoin's biggest shortcomings were the lack of a governance process that invited contributions from its community of users, cost and centralization issues raised by its proof-of-work system, the limited expressiveness of its programming language which didn’t allow for smart contracts, and security concerns. Tezos was created to solve for these perceived issues.
Arthur has worked as a quantitative analyst for Goldman Sachs and Morgan Stanley, and as a research engineer for Google X and Waymo. He graduated from the École Polytechnique and the Courant Institute of NYU, where he studied applied mathematics. Kathleen was a senior strategy associate for R3, a consortium of more than 70 financial firms. She has also worked at Accenture, Bridgewater Associates, and the Wall Street Journal. She holds a degree from Cornell University.
What Makes Tezos Unique?
The main features that make Tezos unique are its on-chain governance system and its strong focus on code security and formal verification. Tezos was also a pioneer in implementing the liquid proof-of-stake (LPoS) consensus mechanism.
Uniquely, Tezos’ on-chain governance system allows any user of the network to propose and vote on upgrades to the protocol in proportion to the stakes they hold. The voting takes place entirely on-chain, in five phases, including three voting rounds.
Each phase lasts for approximately two weeks, meaning that a full upgrade cycle can take nearly three months. If there’s consensus and a certain quorum is reached, the protocol’s self-amendment feature then ensures that the upgrade is implemented - following the wishes of the majority of stakes.
This process focuses on decentralization and works in stark contrast to governance in other protocols, like Ethereum or Bitcoin, in which a small group of core developers decide the future of the blockchain.
It has also enjoyed staking support from major cryptocurrency exchanges, such as Binance and Coinbase - meaning users can receive rewards based on the XTZ that they hold. Not many projects can claim this.
How Many Tezos (XTZ) Coins Are There in Circulation?
There are currently 977,621,108 XTZ in circulation at the time of writing. This total supply is uncapped, with validator rewards increasing the total supply at a rate of about 4.5% per year.
A token fundraising event for Tezos was held back in July 2017, in which a total of 65,681 BTC and 361,122 ETH were raised. At the time, this was worth $232 million, securing its place as one of the largest token fundraising events ever held.
About 80% of the initial supply went to donors of the fundraiser, while 20% were split equally between the Tezos Foundation and Dynamic Ledger Solutions (the company set up by the Breitmans to develop the blockchain).
How Is the Tezos Network Secured?
Tezos uses a liquid proof-of-stake (LPoS) consensus mechanism, an evolution of the delegated proof-of-stake (DPoS) idea.
In LPoS, anyone who meets the minimum threshold - currently 6,000 XTZ - can be a validator (known as "bakers" in Tezos), or to delegate their stake to any public baker in the network (even if the original staker doesn’t meet the threshold).
This is to ensure that staking on Tezos can be as inclusive and accessible as possible, democratizing access and ensuring a plurality of validators to ensure the security of the network.
Where Can You Buy Tezos (XTZ)?
XTZ, otherwise known as “tez” for short, can be purchased from most major exchanges — including Binance, Coinbase, HTX, OKX, Kraken, Kucoin, Bybit, Gate.io, and many others. Trading pairs unite XTZ with fiat currencies, as well as other cryptocurrencies such as Bitcoin.
Popular trading pairs for XTZ include USDT, BTC, USD, and EUR. If you’re looking to convert fiat into Bitcoin, you can read a comprehensive guide here.
Tezos Nodes is a service that rates the reliability of public Tezos bakers and a service for monitoring the state of node performance for non-public Tezos bakers.
Working with the baking community, the team developed a baker reliability index that features 10 key indicators. This index provides potential stakers with all the necessary info they need to choose a reliable public baker.
The live Tezos price today is $0.659277 USD with a 24-hour trading volume of $8,867,131 USD. We update our XTZ to USD price in real-time. Tezos is down 2.45% in the last 24 hours. The current CoinMarketCap ranking is #86, with a live market cap of $657,685,345 USD. It has a circulating supply of 997,585,036 XTZ coins and the max. supply is not available.