What you need to know ahead of the official Tezos (XTZ) launch today
Sep 17, 2018
- Tezos and its coin, Tezzies (XTZ), is moving out of beta and officially launching today, Monday, September 17, 2018 after first debuting in mid 2017.
- Tezos was started by former Morgan Stanley analyst, Arthur Breitman, and raised 66,000 BTC and 361,000 ETH via ICO (USD$232 million) and USD$1.5 million from venture capitalist Tim Draper.
- Tezos is a decentralized blockchain platform (like Ethereum and Stellar) that hosts decentralized applications (dApps) and smart contracts.
- Developers aim to address scaling issues by instituting an on-chain governance system that allows stakeholders to vote on amendments to the Tezos protocol and changes to the voting procedure itself.
- Tezos leverages a unique validation protocol dubbed Liquid Proof-of-Stake that requires validators to deposit 10,000 XTZ tokens and rewards validators with XTZ after signing and publishing blocks.
- Tezos faces a plethora of legal baggage from founder Arthur Breitman not disclosing the creation of Tezos to Morgan Stanley and from Tezos using a US website in launching its ICO.
- One problem constantly highlighted when discussing Tezos is its lack of direction. Because decisions are made via community voting, Tezos lacks a clear direction set forth by leadership, calling into question the long-term applications of the blockchain.
Tezos (XTZ) 1-Year Price Chart