Tezos is a decentralized, blockchain-based smart contract platform that enables developers to create and deploy decentralized applications (DApps) and manage digital assets. The platform uses a unique consensus algorithm called "liquid proof-of-stake" to achieve consensus and facilitate governance, allowing stakeholders to vote on proposed protocol changes and upgrades. Tezos also features a self-amending mechanism, allowing the protocol to evolve over time without requiring a hard fork, and offers formal verification, a mathematical technique for ensuring the correctness of code and smart contracts. The native cryptocurrency of the Tezos platform is called "XTZ."
About $XTZ token
XTZ is the native token of the Tezos blockchain, which serves as a means of payment for transaction fees, as well as a tool for participating in the network's governance and staking mechanisms.
How to buy $XTZ with a payment card
1. Enter the amount of $XTZ and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $XTZ wallet
You are given the option to enter your $XTZ wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $XTZ with a credit and debit card.
Market Position and Adoption: Tezos (XTZ) is a decentralized, open-source blockchain network that uses a proof-of-stake (PoS) consensus algorithm to verify transactions and create new blocks. Launched in 2018, Tezos has gained traction as a platform for developing smart contracts and decentralized applications (dapps) due to its self-amending protocol, which allows for on-chain upgrades without the need for hard forks. As of February 2023, Tezos is ranked #52 in terms of market capitalization, with a market cap of $1.06 billion and a circulating supply of 928,999,161 XTZ tokens.
Technology and Platform: Tezos is built on a modular architecture that enables developers to easily build and deploy smart contracts and dapps. The network uses a unique consensus algorithm called Liquid Proof-of-Stake (LPoS), which is designed to be more efficient and secure than traditional PoS algorithms. Tezos also supports formal verification, a mathematical method for verifying the correctness of code, which helps to prevent bugs and security vulnerabilities. Additionally, Tezos features a self-amending governance mechanism that allows stakeholders to propose and vote on protocol upgrades, ensuring the network can adapt to changing needs over time.
Team: The Tezos project was founded by Arthur and Kathleen Breitman, who raised $232 million in a 2017 initial coin offering (ICO) to fund development of the platform. Tezos is overseen by the Tezos Foundation, a Swiss non-profit that supports the growth and development of the Tezos ecosystem. The foundation is governed by a board of directors, which includes prominent figures from the blockchain industry and academia.
Competition: As a platform for building decentralized applications and smart contracts, Tezos competes with other blockchain networks such as Ethereum, Cardano, and Solana. Each of these networks has its own strengths and weaknesses, and the competition between them is fierce. While Ethereum currently dominates the market for smart contract platforms, Tezos has gained a following for its self-amending protocol and unique governance model.
Supply: Tezos has a maximum supply of 1 billion XTZ tokens, with a current circulating supply of 928,999,161 XTZ tokens as of February 2023. The tokens are distributed through a combination of block rewards and staking rewards, which incentivize users to hold and use XTZ within the Tezos ecosystem.
1. Market Volatility: Like all cryptocurrencies, XTZ is highly volatile and subject to unpredictable price swings. This volatility can create risks for investors, traders, and users of the Tezos blockchain.
2. Regulatory Uncertainty: Tezos and other cryptocurrencies are subject to regulatory scrutiny and uncertainty, which can create risks for investors and users. Changes in laws or regulations could impact the viability of the Tezos network or its associated tokens.
3. Security Risks: The security of the Tezos network and its associated tokens is dependent on a complex network of decentralized nodes and validators. If any of these nodes or validators are compromised, it could potentially compromise the entire network, including the value of the XTZ token.
4. Competition: Tezos faces stiff competition from other smart contract platforms such as Ethereum, Polkadot, and Cardano, which could limit its growth and adoption.
5. Adoption Risks: While Tezos has gained some adoption, it still faces challenges in terms of mainstream adoption and use. If it fails to gain traction among users and developers, it could limit the demand and value for the XTZ token.
6. Development Risks: The development of the Tezos network is ongoing, and there is always the risk of delays, bugs, and other technical challenges that could impact the network's functionality and reputation, and by extension, the value of the XTZ token.
Potential market development triggers
Increased adoption in decentralized finance (DeFi) platforms: Tezos has already started making inroads into the DeFi space with projects such as Dexter and Kalamint, and continued growth in this area could further drive demand for the XTZ token.
Integration with enterprise solutions: Tezos' focus on enterprise solutions has the potential to attract large companies, which could drive increased adoption of the XTZ token.
Expansion into new geographical markets: Tezos has already established a strong presence in Europe and the US, but expansion into new geographical markets could increase demand for the XTZ token.
Development of new use cases: As Tezos continues to develop and mature, new use cases for the platform and the XTZ token could emerge, leading to increased demand.
Partnerships and collaborations: Partnerships and collaborations with other blockchain projects and companies could help to increase the visibility and adoption of the Tezos platform and the XTZ token.
Upgrades and improvements to the Tezos platform: Continued upgrades and improvements to the Tezos platform could increase its competitiveness in the market, leading to increased demand for the XTZ token.
Increased use of non-fungible tokens (NFTs): Tezos' support for NFTs has the potential to attract artists and creators to the platform, which could drive increased demand for the XTZ token.