During the last week the market of cryptocurrency has made many markdowns. Among the exceptions, there is one that, on the other hand, has recorded such an impetuous growth that it brings it close to its historical peak. It's about Tezos (XTZ), which thanks to a growth of 35% closed at $ 1,80, just six cents less than its record, set in May.
What is Tezos
Tezos is a project that started circulating in 2014 thanks to the impulse of Johann Gevers. Only three years later, however, did the ICO (Initial Coin Offering), which has raised $ 232 million in funding. A figure that immediately entered it among the largest in the history of the sector, but which, at the same time, triggered a real internal war between Gevers and the duo formed by Arthur Breitman (owner of the intellectual rights of Tezos) and Kathleen Breitman. An internal war which has significantly slowed the onset of the new token on the market, also prompting several actors to open a legal dispute to get back the money lent during the ICO. After his advent, however, Tezos confirmed the premises, so much so that it is currently at tenth place in the ranking of the most capitalized assets prepared by CoinMarketCap.
How Tezos works
Tezos represents a real one smart contract development platform, like Ethereum, connected to a token, Tez. Its singularity lies in the fact that does not exist mining o Proof of Work: token holders, in fact, are able to receive their rewards simply by taking part in the mechanism Delegated Proof of Stake on which the network is centered, which is called Liquid Proof of Stake. The substantial difference between the first and the second consists in the fact that while in the Proof of Stake (POS) the confirmation of a transaction sees the participation of the whole network, in the Delegated Proof of Stake (dPOS) the consent of the delegates is enough, which they are chosen within the network with the task of confirming the operations.
His success was made possible also by his acceptance on a considerable number of exchange, among which must be remembered Creak, CoinBasePro, Bitfinex, Bitmax, CoinOne, HitBTC, CoinEx, Huobi and others.
It should be emphasized as Tezos over the past year has seen extraordinary growth, just under 300%. As a result of this real extended rally, it has exceeded $ 1,2 billion in capitalization, surpassing it Stellar. According to analysts, this is a trend destined to last longer and which could push Tezos to soon target the ninth position of the ranking currently occupied by Bitcoin SV (BSV), from the top of half a billion dollars more capitalization currently held by it.
However, its reputation is also growing considerably. Just think of the statements made by Bruno Le Maire, French Minister of Economy and Finance, who did not hesitate to affirm that XTZ is one of the digital assets that has most attracted his attention as a neophyte. A seal therefore quite authoritative, which moreover seems to find considerable correspondence on the markets.