- Tezos collaborates with Liquefy for security token solutions
- The Tezos network uses agnostic middleware (Network Shell).
- Last year Binance, Kraken, and Coinbase, encouraged their users to stake Tezos and earn interest
Tezos News Today – the Tezos protocol is a decentralized Blockchain offering that governs itself by establishing a genuine digital commonwealth. Tezos’ main goal is to make sure that their token holders work hand in hand towards making decisions that will inevitably improve the protocol as time passes. The native token of the Tezos platform is called the XTZ coin.
Today, Tezos has become one of the most used digital currency offerings in the space. The coin has steadily risen over the years and began the year 2020 in good form until the recent wave of downward movements for all digital assets.
Tezos Had the Biggest ICO at Some Point
The Tezos protocol was established in the year 2017. The idea was conceived after a record-breaking ICO (Initial Coin Offering) that raised a whopping $232 million. The funds raised by the ICO are utilized by the Tezos Foundation. Tezos was officially launched in 2018, September to be precise. It has reportedly managed to make a way for itself as one of the most significant cryptos out there.
Regarding the network’s architecture, the Tezos Blockchain makes use of the agnostic middleware. This offering is often called the Network Shell. The Network Shell is divided into three separate layers including:
– The network protocol
– The consensus protocol
– The transaction protocol
The price of Tezos is trading at $1.44. The coin is now 8.82% higher in the last 24-hours as altcoins continue their recovery attempt.
Binance, Kraken, and Coinbase have Encouraged their Users to Stake Tezos for Interests
The Tezos platform uses a model described as the Proof-of-Stake as its consensus algorithm. The algorithm implements the Liquid Democracy model in the network. For users to participate, they must “stake” a specific sum of XTZ in their Wallet. The more tokens they have, the bigger their voting power will be. All Tezos stakers can either vote directly or chose to delegate their voting obligations to another individual.
Last year, some of the leading digital currency exchanges including Binance, Kraken, and Coinbase, encouraged their users to take part in staking Tezos so that they can earn interest. On the Tezos network, all users who manage to add new blocks to the Blockchain are known as Bakers. These get their block publishing rights according to their stakes. This is the reason why the process of producing Tezos isn’t called mining. It is called baking.