Tezos News

Tezos News

Tezos is developed by Arthur and Kathleen Breitman who started working on the platform back in 2014. The primary objective of the Tezos Foundation is to conceptualize a system that uses smart contracts in order to stop bugs and forks in the cryptocurrency space. Often cryptocurrency forks result in the change of protocol (for example Bitcoin Fork) and to avoid that Tezos uses a specially designed mechanism that enables the algorithm to update automatically, thereby leaving no scope for forks to invalidate existing users.

Tezos provides a platform for the crypto-ledgering and also supports its native XTZ cryptocurrency. The peer-to-peer blockchain uses proof of stake protocol in order to validate transactions and offers a very high grade of safety features to keep transactions completely secure. In order to resist any centralized control, the Tezos platform is controlled by the online community which votes on important matters to take the final decision, thereby making the platform truly democratic in its approach.

There are three layers to the Tezos platform, i.e., network, consensus, and transactions, and all of these components have been incorporated in their modular form in order to facilitate quick replacement or scaling operations in the future. Recent Tezos (XTZ) news includes a huge spike in the demand of the coin in the market although in-line with other cryptocurrencies, the XTZ coin price follows a dynamic pattern.