Tezos (XTZ): Is It a Lucrative Investment for 2020?
Tezos is a project developed by former Morgan Stanley analyst Arthur BREITMAN and his wife Kathleen. This is a platform for creating decentralized applications, similar to Ethereum or Cardano, but statedly more secure and reliable than Ethereum. For example, reliability is provided by checking the code of smart contracts automatically. Tezos supports meta-updates — therefore, the protocol can be updated after consensus on the need for such an update is reached.
- Website: https://www.tezos.com/
- Start of trading: 30 June 2018
- Current ROI (since the start of trading) = minus 55.5%
- Place in the Coinmarketcap capitalization rating: 10
- Consensus Algorithm: Delegated Proof-of-Stake
- Programming Language: Michelson, OCaml
- Test network launch: June 30, 2018
- Launch of the main network: September 17, 2018
Tokens appeared on the exchange on June 30, 2018, at 4.47 USD, starting at the 18th place in the Coinmarketcap rating. But a week later, the price dropped to 1.4 USD. The lion's share of the history of Tezos is not about record-breaking ROIs, but rather about endless lawsuits and proceedings both from investors and within the company.
Key Benefits of Tezos
The positive aspects of the project are related to the features of consensus and the structure of the network. Here are some of them:
- Indivisibility of the network, the so-called self-amendment. It aims to protect against hard forks that become impossible because the network is always the same. Token holders vote for the blockchain development options, while the alternative methods not winning the vote remain overboard, so the network does not split. Far from all projects, key decisions are made precisely by the community, and not by individual groups of people;
- A large number of full nodes, which makes the project truly decentralized;
- Formal mathematical verification of smart contracts, which reduces the number of errors and vulnerabilities.
There are no problems with purchasing Tezos at the moment, although two years ago, the company did not want to pay for the listing, despite the large budget, and the XTZ coin was not traded in many places. Now cryptocurrency is placed on approximately 50 cryptocurrency exchanges, below are the top ten most popular trading pairs for XTZ:
Tezos is best kept on the following cryptocurrency wallets. Almost half of them are recommended by Tezos:
- Ledger (hardware wallet);
- Trezor (hardware);
- Atomic (desktop, mobile);
- TeBox (desktop, browser, mobile);
- Tezos.blue (desktop, mobile);
- Galleon (browser);
- Kukai (browser);
- AirGap (browser, mobile);
- ZenGo (mobile).
Since the beginning of 2020, XTZ has grown 1.5 times in USD, and at some point, the growth reached 2.5. While fundamental factors suggest that in the future, the growth of the cryptocurrency will continue, of course, it does not mean that the price of XTZ cannot be reduced in the short term.
Image courtesy of Invezz
Back to the list