XTZ
Reputation Ratings

XTZ

Tezos 5-10 years
Cryptocurrency
Website https://www.tezos.com/
Browser
OTH RELPs
Github
White Paper
XTZ Avg Price
-4.05%
1D

$ 0.7101 USD

$ 0.7101 USD

Market Cap

$ 751.221 million USD

$ 751.221m USD

24h trading volume

$ 51.227 million USD

$ 51.227m USD

7d Vol

$ 264.333 million USD

$ 264.333m USD

Circulating supply

1.0124 billion XTZ

Related information

Issue Time

2017-10-03

Platform pertained to

--

Current price

$0.7101USD

Market Cap

$751.221mUSD

Volume of Transaction

24h

$51.227mUSD

Circulating supply

1.0124bXTZ

Volume of Transaction

7d

$264.333mUSD

Change

24h

-4.05%

Number of Markets

406

Github Messages

More

Warehouse

Tezos

Github's IP Address

[Copy]

Codebase Size

10

Last Updated Time

2019-08-02 11:48:33

Language Involved

--

Agreement

--

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XTZ Price Chart

Introduction

Markets

3H

-3.28%

1D

-4.05%

1W

+8.39%

1M

+2.29%

1Y

-18.25%

All

-61.67%

AspectInformation
Short NameXTZ
Full NameTezos
Founded Year2018
Main FoundersArthur Breitman and Kathleen Breitman
Support ExchangesGate.io, Coinbase, Binance, Kraken etc.
Storage WalletTezBox Wallet, Kukai Wallet, Ledger Wallet etc.
Customer SupportSocial media: Twitter, Telegram, Github, Discord, etc.

Overview of XTZ

XTZ, or Tezos, is a self-amending cryptographic ledger based on blockchain technology. Founded in 2018 by Arthur Breitman and Kathleen Breitman, Tezos diverges from other blockchain platforms by enabling network protocol upgrades without undergoing a hard fork. Its native token, XTZ, functions within the ecosystem to incentivize network participants in a process known as “baking” for block creation, is a kind of DeFi token. Supported by several exchanges such as Gate.io, Coinbase, Binance, and Kraken, XTZ tokens can be stored in a variety of wallets such as TezBox Wallet, Kukai Wallet, and Ledger Wallet.

Overview of XTZ

Pros and Cons

ProsCons
Self-amending cryptographic ledgerLess established than larger cryptocurrencies
Network protocol upgrades without hard forkComplex technical understanding required for “baking”
Multiple exchanges supportDependent on user participation for security and accuracy
Various wallets storageVulnerability of wallets to security risks

What Makes XTZ Unique?

XTZ, or Tezos, is unique in that it is designed for Web3, the integration of blockchain into the internet as we know it. This design puts user participation and governance at its core, allowing for direct, frictionless interaction and value exchange on a decentralized network without intermediaries. Tezos aims to make Web3 a truly user-governed innovation.

One of the key distinguishing features of Tezos is its commitment to institutional-grade security. It provides safety and code correctness for high value use cases at both the protocol and application layers. This is facilitated through the use of OCaml and Michelson languages, which aid formal verification often used in critical industries.

Tezos is also unique in its dedication to community governance. It is equipped with mechanisms that enable users to actively partake in evaluating, proposing, or approving amendments, thereby fostering collaborative innovation and keeping Tezos at the forefront of technological advancement.

Tezos' Proof-of-Stake (PoS) algorithm also sets it apart. Requiring less energy and cost to operate than the traditional PoW consensus method, it offers an eco-friendly alternative for building blockchain applications.

What Makes XTZ Unique?

How Does XTZ Work?

Tezos operates under a decentralized blockchain network that uses a proof-of-stake consensus mechanism, differing from the traditional proof-of-work mechanism used by cryptocurrencies like Bitcoin. Its unique functionality is highlighted in two main features: the self-amending process and the “baking” procedure.

In the self-amending process, the protocol of Tezos can undergo modifications and improvements through an on-chain governance model without the need for a hard fork (splitting the blockchain). Changes in the system are automatically deployed once they achieve a majority vote from stakeholders. This stands as an answer to the rigid structure of most blockchain protocols that often necessitate controversial hard forks to implement important updates.

The “baking” process, on the other hand, is the Tezos terminology for block validation and creation. In this proof-of-stake system, holders of XTZ (the native token of Tezos) can participate in securing the network. These bakers are responsible for creating blocks and verifying the legitimacy of transactions. Here's how it works: Bakers put up their XTZ as a stake. The higher the stake, the higher the probability a baker is selected to validate the next block. If the baker behaves honestly, they receive a reward in the form of newly minted XTZ.

Exchanges to Buy XTZ

Here are large cryptocurrency exchanges where XTZ can be purchased and the supported pairings on each exchange:

1. Binance: Binance, one of the world's largest platforms for cryptocurrency trading, supports numerous trading pairs for XTZ. Notable ones include XTZ/USDT, XTZ/BTC, XTZ/ETH, XTZ/BUSD, XTZ/BNB.

StepAction
1Create a free account on Binance via the website or app and complete ID verification.
2Choose how to buy Tezos: Click “Buy Crypto” on the website, explore options based on your country, and consider using stablecoins like USDT for better compatibility.
3Buy with Credit/Debit CardThird Party PaymentBank Deposit.
4Check Payment Details.
5Store or Use Tezos.

Buying Link: https://www.binance.com/en/how-to-buy/tezos

2. Coinbase: As one of the most prominent cryptocurrency exchanges in the world, Coinbase supports XTZ and allows trading against major currencies like USD and EUR (XTZ/USD, XTZ/EUR), as well as Bitcoin (XTZ/BTC).

StepAction
1Create a Coinbase account and verify your ID.
2Add a payment method (bank account, debit card, or wire).
3Start a trade on Coinbase.com or the mobile app.
4Select Tezos from the list of assets.
5Enter the amount in your local currency to buy Tezos.
6Finalize the Tezos purchase by tapping “Preview buy” and then “Buy now.”
7Done. Once processed, you'll see a confirmation screen. You've successfully bought Tezos.

Buying link: https://www.coinbase.com/how-to-buy/tezos

3. Kraken: On Kraken, another popular crypto exchange, XTZ can be traded against several currencies, including USD, EUR and Bitcoin. The supported pairs are XTZ/USD, XTZ/EUR, and XTZ/XBT.

4. Huobi Global: At Huobi Global, XTZ can be traded with BTC and USDT pairs (XTZ/BTC and XTZ/USDT).

5. OKX: OKX supports XTZ trading and offers several pairings including XTZ/USDT, XTZ/BTC, and XTZ/ETH.

Exchanges to Buy XTZ

How to Store XTZ?

Storing XTZ requires a digital wallet that is compatible with the Tezos blockchain. These wallets can come in various forms, each offering different levels of convenience and security. Here are some types and examples of wallets that can be used to store XTZ:

1. Software Wallets: These are applications that are downloaded and installed on a computer or smartphone. They are convenient for daily use and are often free. However, since they are connected to the internet, they might be at a higher risk of being hacked. Examples include:

- TezBox: This was the first graphical user interface wallet for Tezos. It is an open-source wallet and is available for Windows, MacOS, and Linux. There's also a web-based version of TezBox.

- Kukai: It is a web-based wallet for the Tezos blockchain that allows for direct interaction with the Tezos network. It supports both standard and multisig accounts.

2. Hardware Wallets: These are physical devices designed to securely generate and store private keys offline. They keep your XTZ safe by requiring a physical action (like pushing a button) to confirm transactions. Examples include:

- Ledger: Known for its high-level security features, Ledger device can protect your crypto-assets even if your computer is compromised. It has integrated support for Tezos, which allows users to manage XTZ with Ledger Live, and it also supports baking.

- Trezor: Although not natively supported, XTZ can be stored on a Trezor device by using it along with a compatible wallet interface like Galleon.

How to Store XTZ?

Is It Safe?

Tezos is considered a safe cryptocurrency. It is designed with several security features in mind, including:

  • Formal verification: Tezos uses the OCaml and Michelson programming languages, which support formal verification. This means that Tezos smart contracts can be mathematically proven to be correct, which helps to prevent bugs and security vulnerabilities.
  • Proof of stake: Tezos uses a proof of stake (PoS) consensus mechanism, which is more energy-efficient and secure than proof of work (PoW). In PoS, users stake their XTZ tokens to become validators, and validators are responsible for validating transactions and securing the network. This makes it much more difficult for attackers to take control of the network.
  • On-chain governance: Tezos has a unique on-chain governance system that allows token holders to vote on proposed changes to the protocol. This helps to ensure that Tezos remains a decentralized and open-source project.

Tezos has a strong track record of security. There have been no major security breaches since the network launched in 2018. Additionally, Tezos is constantly being updated and improved, which helps to keep it ahead of security threats.

How to Earn XTZ C?

There are several methods to earn XTZ, the Tezos cryptocurrency.

One way is through a referral program, such as Nexo's, where you introduce friends to the world of cryptocurrencies. Each successful referral earns you $25, paid out in Bitcoin.

Additionally, joining Nexo's Affiliate Program grants you a share of revenue each time an invited user earns interest, makes swaps, or borrows funds.

But the intrinsic way to earn XTZ is through staking, as Tezos operates on a proof-of-stake (PoS) blockchain. Users can choose to stake their Tezos tokens, which involves locking these tokens for a certain period and participating in validating transactions on the blockchain. In exchange for this service, users are rewarded with additional Tezos tokens.

Consequently, there are several avenues one can pursue to accumulate XTZ, each suited to different levels of involvement and resource allocation in the crypto sphere.

How to Earn XTZ?

FAQs

Q: What does the term “baking” mean in the context of Tezos?

A: “Baking” refers to the system of block validation and creation utilized in the Tezos proof-of-stake consensus mechanism, with bakers staking XTZ to participate in securing the network.

Q: What are the most popular exchanges to buy or trade XTZ?

A: Key exchanges where XTZ can be bought or traded include platforms like Binance, Coinbase, Kraken, and Huobi Global, among others.

Q: How can XTZ tokens be stored securely?

A: XTZ tokens can be safely stored in different types of digital wallets that are compatible with the Tezos blockchain, including software wallets like TezBox, hardware wallets like Ledger, and mobile wallets like Trust Wallet.

Q: What future prospects does Tezos have in the cryptocurrency market?

A: While Tezos offers innovative features such as the self-amending process and baking, predicting its future success or market appreciation depends on various market factors and is inherently uncertain.

User Reviews

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45 ratings

Participate in evaluation
Hoàng Thành Đạt
Low translation quality makes XTZ really crazy, promising a lot but building machines, selling coffee is not finished, boring!
2024-03-01 13:50
9
zeally
XTZ is the native cryptocurrency of the Tezos platform. It is used for various purposes, including staking to secure the network, participating in the governance process, and as a medium of exchange within the Tezos ecosystem.
2023-12-19 18:07
3
Ufuoma27
Tezos (XTZ) is a blockchain platform that focuses on self-amendment and on-chain governance. It allows stakeholders to vote on changes to the protocol, enabling the platform to evolve without the need for hard forks. Tezos aims to provide a secure and upgradable blockchain infrastructure for smart contracts and decentralized applications (DApps). The native cryptocurrency of the Tezos platform is called XTZ.
2023-12-20 22:05
1
Scarletc
XTZ is the native cryptocurrency of the Tezos network, and it is used for various purposes, including staking to secure the network, participating in governance decisions, and as a means of exchange within the Tezos ecosystem.
2023-11-30 18:40
4
Pweetyrose
The predictable and transparent inflation schedule of XTZ provides clarity for investors, contributing to a more stable and reliable investment.
2023-11-22 04:53
6
Abeveluv78
The energy-efficient consensus mechanism of XTZ addresses concerns about the environmental impact of blockchain technology, making it a responsible choice for eco-conscious users."
2023-11-21 20:17
6
Nassi
XTZ low transaction fees makes it an economical choice for users, especially when compared to some other block chain networks. I really appreciate the educational resources XTZ is providing.
2023-11-21 16:55
2
Habiba56
"XTZ's integration of self-amendment features allows for continuous improvements without the need for contentious hard forks, promoting a more cohesive community."
2023-11-21 16:37
8
AdaGod
XTZ's unique approach to smart contracts provides flexibility and scalability, making is a promising blockchain for future applications
2023-11-21 16:36
2
Unstoppable 8252
The energy-efficient consensus mechanism of XTZ addresses concerns about the environmental impact of blockchain technology, making it a responsible choice for eco-conscious users.
2023-11-21 16:30
2
Michael 950
XTZ has been a good crypto with bigger potential than expected, you can say it won't be best soon but now it is what we can hope on and trade onRemember bitcoin started this way and now many wish to have gotten it earlier.
2023-11-21 16:01
7
Dory724
it's an Innovative blockchain with on-chain governance. Steady development and strong community involvement, making it a promising project.
2023-11-20 17:34
4
FX1065630513
The price volatility of XTZ is very high, which makes the heart beat faster when trading! However, the high liquidity of XTZ makes it difficult to keep up with the pace of investment.+#
2024-03-21 01:14
8
Dory724
Tezos focuses on smart contracts and on-chain governance. It's recognized for its self-amending blockchain. However, widespread adoption remains a hurdle in the competitive smart contract platform space.
2023-11-28 17:56
1
Lala27
Tezos (XTZ) is a blockchain network linked to a digital token, which is called a tez or a tezzie. Tezos aims to provide the safety and code correctness required for assets and other high-value use cases.
2023-11-27 20:25
7
fazzy
The active engagement of XTZ in educational initiatives helps bridge the knowledge gap, making block chain technology more accessible to a wider audience.
2023-11-22 04:03
1
Smartbiz094
Tezos has made a big impact because it is different from Etherium and Bitcoin. In addition, Tezos' ICO is one of the most successful companies ever. A total of $ 252 million Bitcoin
2023-11-22 02:43
8
Abba6032
XTZ's focus on building a scalable and efficient blockchain infrastructure positions it as a viable solution for a wide range of applications, from finance to decentralized applications."
2023-11-22 01:46
6
Zubby5916
The emphasis on self amandment in XTZ allows the protocol to adapt to changing market dynamics ensuring resilience and longevity. It focus on building a scalable and afficient blockchain.
2023-11-21 20:03
8
Benfa4153
Tezos uses a unique consensus mechanism called proof of stake (PoS). In PoS, users "stake" their XTZ tokens in order to validate transactions and earn rewards. This system is more energy-efficient and secure than proof of work (PoW), which is used by many other blockchains.
2023-11-21 16:04
9

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