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Tezos (XTZ): an overview of the Ethereum “killer”

Tezos (XTZ) is based on the Blockchain, developed by the authors of the project from scratch. This technology is not based on a functioning blockchain. It is secure and uses well-known Ethereum smart contracts. The current rate can be checked at https://alligat0r.com/coin-pairs/xtz/btc/info.

The defining virtue of the blockchain is the reliability of the algorithm on which the original blockchain operates. The new digital structure can integrate innovation without fear of a radical separation of the virtual architecture.

The global objective of Tezos is to implement Blockchain technology that works better than Ethereum and Bitcoin. The authors of the project want to offer users a financial incentive for supporting transaction logs. No Blockchain today offers a development bonus system. Tezos wants to be a pioneer in this area.

Creation history

Work on the project began in 2014. The authors are Kathleen and Arthur Breitman, who own DLS. The Tezos Foundation, a Swiss investment fund led by Johan Gevers, is also directly related to the project.

In 2017, the ICO was launched, which lasted no more than 2 weeks. During this period, the developers of the new digital architecture raised $232 million. Voluntary contributions are accepted in bitcoin and ethereum. The fundraising campaign was actively supported by outside investors.

Technical features of the innovative project

Analysts are confident that if the authors achieve the intended goals, they will follow their logical conclusion. The result will be a unique ecosystem. There is an inequality in the Bitcoin system — the owners of mining farms have priority if compared to ordinary users of the cryptocurrency. Therefore, many experts call Tezos a version of Blockchain 3.0. This promises great prospects for the project, so it makes sense to buy tokens on the website alligat0r today.

The features of the generally functioning electronic payment system with intranet coins include several points.

Management

Mining is not provided by the authors of the ecosystem. This approach assumes the evolution of blockchain technology. The XTZ cryptocurrency offers the possibility of updating the protocol, which consists of 3 parts: network, transactions, and consensus.

Formal verification

The main difference between Tezos is the use of its own programming language, Michelson. Smart contracts are built on it. This language greatly simplifies the formal verification of all information. Verification of a smart contract code is a very complex and time-consuming process.

The authors of the project deliberately complicated the conditions for modifying the code in order to achieve stability, reduce volatility, and reduce the number of hardforces. If someone wants to make changes, they will have to contribute a certain number of tokens.

Conclusions

Tezos is not a fraudulent project. This is supported by the fact that the ICO process managed to attract investment from hedge funds. 20% of analysts believe that Tezos will be able to surpass Ethereum. 60% are confident that the new ecosystem will develop in the same way as Ethereum.

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