Tezos (XTZ) is an amazing blockchain and was not made by forking another blockchain or building extra layers on any existing blockchain. It has lots of unique benefits that make it worthy of being bought. Its goal was to form a blockchain that would be able to perform with innovations without risking any interest of its community.
It is less difficult and power-consuming for the miner to work with and still maintains a trustworthy Proof-of-Stake consensus mechanism named Liquid Proof of Stake (LPoS). It wants to be a major blockchain and an alternative to other cryptocurrencies. So let’s study what makes it worthy of buying instead of other such blockchains:
- According to Staking Rewards, staking XTZ can result in earning 4.74%, similar to ETH 2.0, with the additional benefit of not locking up the assets. Currently, 75.5% of the $XTZ supply is staked with a value of about 5.3 billion US dollars.
- Arab Bank Switzerland also announced a collaboration with Tezos blockchain that would let them trade, stake, and get custody services for its token.
- Formal verifications can take place through Michelson (Tezos coding language), so one can depend on Tezos for high-value transactions, but a small error in the system of other blockchains can cause huge financial loss of any party.
- It is a self-amending blockchain and is designed to evolve, and updates are implemented automatically.
- Tezos has recently announced that they have signed a deal with three Swiss firms to provide them with tokenized assets.
- They will be developing DAR-1 tokens that would help in implementing anti-money laundering rules and will improve governance.
- XTZ has gained around 170% since the start of 2021.
- Despite its initial scandals of the dispute between its creators, then the significant delay in its launch, and taking almost a year to materialize, it reached a $25 million settlement, and $16.5 million of it was given to inventors who lost money.
These unique and amazing characteristics of Tezos, conclude that it is actually a worthy purchase.
Also read: Tezos Coin Review – Is Tezos (XTZ) A Good Investment?
Takeaways
- Tezos (XTZ) is an amazing blockchain and was not made by forking another blockchain or building extra layers on any existing blockchain
- Arab Bank Switzerland also announced a collaboration with Tezos blockchain that would let them trade, stake, and get custody services for its token.
- Tezos has recently announced that they have signed a deal with three Swiss firms to provide them with tokenized assets.
- XTZ has gained around 170% since the start of this year.