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.

What tools does Nimbus offer for effortlessly monitoring Tezos?

Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor Tezos effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to Tezos. Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking Tezos prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.

How does Nimbus enable tracking Tezos prices with profit and loss?

Nimbus facilitates the tracking of Tezos prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.

How does Nimbus analyze Tezos, and what insights does it provide?

Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting Tezos . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their Tezos. Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.

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XTZ Market Statistics

  • Price USD

    $0.980223
  • Market Cap

    $963,984,179.63
  • Total Volume USD

    $42,026,480.10
  • Total Supply

    1,003,999,097.38 XTZ
  • Circulating Supply

    983,433,338.80 XTZ
  • Fully Diluted Market Cap

    $984,143,213.43
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