The Block • Sep 24, 22
Tezos activates Kathmandu protocol upgrade on its mainnet
Contributors to Tezos blockchain activated the Kathmandu protocol upgrade.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Tezos has risen by 1.15% in the past 7 days. The price declined by 3.48% in the last 24 hours. In just the past hour, the price grew by 0.35%. The current price is $0.9695 per XTZ. Tezos is 92.05% below the all time high of $12.19.
The current circulating supply is 917,778,562.991 XTZ.
Tezos is a cryptocurrency and decentralized computing platform. Its features include proof of stake consensus, formal verification (which lets developers verify the correctness of their code), and the ability to let stakeholders vote on changes to the protocol. Tezos's block creation process is called "baking" — Tezos holders who stake their tokens can receive Tezos tokens as a reward for creating and verifying blocks.
is a and a decentralized computing platform that aims to overcome fundamental hurdles to adoption for assets and applications. The network, which is supported by a worldwide community of validators, researchers, and builders, seeks to deploy complicated for asset settlement and . aims to make it simple for developers to create advanced tools and products while new users may experience , , gaming, and other features across hundreds of Tezos-powered DApps. The network aims to enable high-value use cases both at and application layers facilitating , a practice popularly used in mission-critical enterprises, spanning from nuclear and aviation to semiconductors and more.
According to the , Tezos is described as a self-amending crypto ledger. Tezos claims this and upgradability as one of its unique features. Through an in-protocol amendment process, Tezos upgrades itself without the requirement of a hard . A fork occurs when a community modifies a blockchain’s core set of rules or protocols, whereas a hard fork drastically changes the code without backward compatibility. As a result of performing upgrades in a self-amending manner, Tezos seeks to speed innovation, minimize the possibility of contentious splits, and promote long-term coordination of stakeholders within the Tezos community. Simply, the network evolves by modifying its own code.
Security: The platform is designed to provide safety and code correctness for assets by using languages like Ocami and Michelson.
Scalable: Tezos boasts modern architecture and offers upgradability and scalability.
Smarter smart contracts: The smart contrasts of Tezos are mathematically verifiable, reliable, and secured.
Tezos, powered by a decentralized network of nodes or participants, provides the computing resources required to ensure the network’s availability and integrity. Accordingly, Tezos’s -based technique, known as baking, is used to achieve consensus among blockchain participants. This approach seeks to allow every stakeholder to participate in consensus without giving up ownership of their through voluntary delegation. Also, proof of stake aims to enhance scalability and promote incentive alignment.
Build: Tezos aims to enable developers all around the globe to lay the groundwork for a decentralized network and true digital community, from breaking the existing structure to reimagining possibilities in art, identity, finance, ownership, and other fields.
Play: The platform aims to facilitate playtime by reimagining games and puzzles to create a revolutionary experience.
Collect: Tezos’s NFT marketplace seeks to provide opportunities for artists and collectors alike. Tezos aims to offer fans of Formula One racing, music, transcendent art, comic books, etc. an opportunity to collect NFTs in a novel, practical, and energy-efficient way.
The of Tezos is tez or XTZ. According to the official document, Tezos seeks to revolutionize retaining and exchanging value in a digitally interconnected economy. The XTZ coin seeks to have multiple use cases from enterprise to government and DeFi to NFTs. The coin also aims to allow asset , which is the process of tokenizing physical and real-world assets such as real estate or luxury items like collectibles, art, and more onto a blockchain.
The XTZ token also aims to reward developers; any developer may propose a protocol update with an invoice attached. The community of “bakers,” who are validators in Tezos, vote on the protocol upgrade using XTZ’s formal built-in governance system. In simple terms, Tezos’s on-chain governance mechanism seeks to allow token holders to engage in the amendment process by selecting a baker to accept or reject the update.
Tezos was one of the major proof-of-stake networks that launched in , cofounded by Arthur Breitman. Breitman is a council member and an early Tezos architect. He formerly worked as a research engineer at Google X and Waymo. The Tezos Foundation is one of several organizations in the Tezos ecosystem that work together to support the Tezos protocol and ecosystem. The Tezos Foundation’s mission is to promote the Tezos protocol through grants and other forms of capital deployment.
Since is not a company, it does not have a core team or employees. Tezos is an open-source software project and blockchain to which anybody may contribute code. Further, Tezos launched its position paper in August 2014 and the original whitepaper in September 2014.
As mentioned earlier, the act of authenticating and publishing blocks to the Tezos blockchain is referred to as “.” Instead of , bakers in the Tezos network are an important part of this proof-of-stake consensus system. They ensure that all transactions in a block are valid, the sequence of transactions is agreed upon, and no double-spending occurs. Consequently, a baker engages in a proof of stake to bake blocks, which requires a minimum of 8,000 XTZ (1 roll). The more XTZ rolls a baker possesses, the better their chances of earning baking blocks and receiving baking incentives.
Additionally, users who do not own 8,000 XTZ or do not want to build up computational power can bake blocks or delegate the coins to bakers. Through delegation, coin holders lend their coins to a baker (delegate), which increases the baker’s chances of being chosen to bake and endorse blocks. Practically, bakers split the additional revenue created by delegated tokens with the coin holder. It is important to note that delegation does not transfer the ownership of coins, so the baker cannot use or control the XTZ delegated to it, which guarantees that bakers cannot appropriate delegators’ funds.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 Tezos currently costs $0.97.
The current market cap of Tezos is $891.16M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Tezos is $12.19. This all-time high is highest price paid for Tezos since it was launched.
Over the last 24 hours, the trading volume of Tezos is $16.74M.
The current circulating supply of Tezos is 918 million.
The median time that Coinbase customers hold Tezos before selling it or sending it to another account or address is 99 days.
Tezos ranks 26 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 89% of Coinbase users are buying Tezos. In other words, 89% of Coinbase customers have increased their net position in Tezos over the past 24 hours through trading.
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