Tezos Overview
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Founded: 2014
Key persons: Kathleen Breitman, Arthur Breitman
Capitalization: $4,260,930,060
Trading volume (24h): $213,170,235
CoinMarketCap rank: 42
Tezos (XTZ) facts:
- During the 2017 ICO a record-breaking (for that time) $230 million were raised.
- The token issuance was preceded by a corporate conflict, which delayed the listing for more than a year.
- The project is being developed under a decentralized model, where any developer can propose improvements or additions to the code simultaneously billing for their work.
Project objective: Creation of an alternative fully decentralized Layer 1 blockchain.
Current trends and future plans:
The project team is fully decentralized and aims to create a blockchain with an alternative form of smart contract support (not through the use of a virtual machine, but through functional programming and an independent approach to data processing). This fundamental technical difference allows blockchain to be unique and to attract new entrants and enthusiastic developers. The blockchain validation system is implemented using a delegated Proof-of-Stake algorithm, where user tokens are stacked and allowed to participate in transaction validation and collectively earn rewards.
Despite the early problems, the blockchain is now supporting all the crypto industry major trends — creating NFT tokens, setting up DAOs, writing smart contracts for DeFi projects, serving as a platform for CBDC experiments (centralized crypto stablecoins), and launching a marketplace for hydrocarbon quotas trading.
In addition, two waves of grant support for talented entrepreneurs have been announced. The selection will take place in the near future.
