Wed, Sep 2, 2020 8:50 PM

What Is Tezos And How To Buy It

CJ and Tezos rocket

Tezos (XTZ) is a cryptocurrency and a decentralized computing platform. It features consistent proof of stake, formal verification that allows developers to validate their code, and the ability for stakeholders to vote on protocol changes. Let’s have a closer look.

What is Tezos

Tezos is a blockchain created from scratch. It is not a fork or an additional layer of the existing blockchains, as it has its unique code. Tezos developers build a blockchain that can become the basis for innovation, but at the same time, the risks of hard forks that can divide its community are very low. Also, the platform allows working with smart contracts.

In the Tezos system, users receive awards for helping to maintain consensus on the blockchain. It also provides a mechanism that allows the token holders to effectively manage the blockchain and implement advanced solutions into it. The control system is one of the main competitive advantages of the project.

How the Tezos platform works

Tezos architecture is multi-staged and facilitates network upgrades without hard forks. The system is divided into three modules:

  • network;
  • transaction module;
  • consensus module.

The software code of the Tezos ecosystem is written in the OCaml language, which makes it possible to independently update both the protocol itself and each of its layers.

How and where to buy Tezos cryptocurrency – XTZ 

At the moment, Tezos exchange is carried out by 20 cryptocurrency exchanges, including some well-known platforms, such as:

  • Binance;
  • Bitfinex;
  • Coinbase Pro;
  • Kraken;
  • Huobi Global.

As of 1 Sept 2020, 1 XTZ can be exchanged for $3,35.

To purchase Tezos, you should select one of the sites and create an account there. However, the company adheres to anti-money laundering and customer identification rules, so you may be asked to go through verification and verify your identity.

Tezos XTZ remains a promising investment opportunity, which allows solving the management problems inherent in many blockchain projects, even as large as Bitcoin and Ether.