Tezos (XTZ): Overview

World economists finally realize that current financial systems are flawed and unstable. The world needs a much more stable and reliable currency. Blockchains were developed by scientists on an algorithm that could address the issues concerning Sustainability and Scalability. However, there still remained some questions unanswered. Time and again, the hybrid consensus mechanism of blockchain and various tokens revolving around it has also been in heated discussions. Before we dig into the Tezos price prediction, let us have a look at some of the unique features of Tezos.

However, very few networks have actually gone into addressing the interoperability issues that pose various bottlenecks for the trading community. Enormous transaction fees and lack of transparency are major hurdles in scientifically developed platforms; many cryptocurrencies failed to redress these issues. Cryptocurrencies like Tezos has gradually pervaded the mainstream consciousness and gained traction. It has stood the test of times and shall continue to do so provided it sees a mass adoption.

Tezos Overview

Cryptocurrency Tezos
Ticker Symbol XTZ
Price $1.87
Price Change 24h +7.78%
Price Change 7d +5.69%
Market cap $1,867,503,202
Circulating Supply 896,339,249 XTZ
Trading Volume $73,663,157
All time high $9.18
All time low $0.3146
Tezos ROI +346.53%

Even though transactions are recorded in the general blockchain, neither the sender nor the recipient and not even the amount transferred is in any way apparent to other users on the network. The entire framework of Tezos relies on zero-disclosure evidence, thereby allowing mathematical consistency of the entire transaction procedure, which is cross-checked without revealing any data or message on the other party involved in the transaction. Putting the power ultimately in the hands of the user, Tezos has regular upgrade schedules, which means this protocol is adaptable to meet the varied use cases of today and the unforeseen use cases of tomorrow. Tezos can trap fraudulent or spurious transactions by peers wherein a confirmed block can trace the preceding block.

Tezos: Evolution From Gene to Giant

Breaking free from the erstwhile Blockchain, Tezos was coined as another revolution in the world of second-generation blockchain in the year 2018. Fondly called a native cryptocurrency, Tezzie, Tezos blockchain is capable of hosting smart contracts and dApps. Now what makes Tezos stand out from its competitors like ETH, Bitcoin, and others is that here the decision-making is built into the blockchain itself. All the owners, i.e., investors of Tezos, the native crypto XTZ, vote on decisions related to the blockchain, including protocol changes. Approved changes are then automatically applied, as the blockchain is self-change capable.

This unique trait makes the entire protocol bring stability, especially with no major platform-oriented picture changes. Working on Proof of Stake (PoS) makes Tezos bring the advantage of lesser transaction fees to the table. In the DPoS system, where stakers are called bakers can lock up their tokens in exchange for the ability to validate blocks. XTZ Tokens with an average amount of rewards get distributed to bakers to wallets that have delegated tokens to the baker. This enables smaller token holders to participate in the validation (and reward) process if they hold less than the required amount to become a full baker.

Tezos is also actively involved in reshaping legislation and compliance to innovative commercial standards challenging the current ecosystem. Team Tezos realizes that blockchain’s full potential can be harnessed only when the fundamental framework is in place to make this revolutionary technology a dream come true. A well-manned team of dedicated professionals and scientists of Tezos includes Hubertus Thonhauser as the Chairman with Alexis Bonte, Daniel Masters, and Marylene Micheloud as Members of the Tezos Foundation Council. The Executive Committee of Tezos has eminent names like Ulrich Sauter (General Counsel), Arthur Breitman (Co-Founder and CEO), and Roman Schnider as the Chief Financial Officer.

Tezos (XTZ): The Working Wonders

The Die-hard users of Tezos would always advocate using XTZ in place of fiat money. Many Tezos supporters believe that digital currency is the future. The factors leading to XTZ adoption by institutions and companies primarily are based on the following fundamentals:-

  • Faster Payment process as the transaction cost is kept low to enable investors to transact using the credit card.
  • Low/minimal payment fee and no hidden or hefty charges; neither by brokers nor by banks
  • Not dependent on any payments from a bank or its network
  • Accessibility – As no approval required from any third party
  • Alternate to physical commodity
  • Easy to store and secure, offering maximum reliability without going through the trouble of carrying bulky bags or
  • Power in the hands of users and investors eliminating the role of intermediary
  • Confidentiality of investor and transaction preserved with utmost discretion as no KYC revealed and payments are not linked to traditional verification
  • Acceptance of payments from any source or origin
  • Enabling payments and transfers through the press of a button on user’s cell phones
  • They are Fraud-proof as they are stored in a public ledger, and all coin owners are encrypted to ensure the legitimacy of record keeping.

Companies can build Tezos-based private / permissioned blockchain networks using its plug and play feature. They can plug the private blockchain solution into the public Tezos mainnet. Tezos interoperability keeps companies’ blockchains updated. It provides them global expansion, a vast network of users and dApps (Decentralized Applications), and continual developments and upgrades. Enterprise Tezos refers to a defined set of guidelines and technical specifications to accelerate blockchain technology adoption among enterprises. The specifications provide businesses with the ability to leverage both Tezos-based private chains and the public mainnet.

Tezos: The Bygone Voyage

As with any other digital currency, Tezos (XTZ) is the subject of absolutely different points of view. Some people like Tezos, while others do not favor it much. XTZ is regarded as one of the most debated digital currencies. Some people think the project lacks an approach plan and the controversial PR stunts of its founder. Nevertheless, there are a lot of others who actually believe in XTZ price prediction.

Currently, XTZ price is trading around $3.80, with an almost 3% hike over the last 24 hours. The market capitalization of Tezos is $3,360,141,385 with 876,591,071.11 XTZ circulating currently. Ever since its inception, the token has been competing hard and strong against its rival cryptocurrencies. Once or twice in the year 2020, it had witnessed the highest escalation in price around $4. But this trend did not last long and fell to $1.03. By November 2020, the Tezos (XTZ) price faced a correction and breached an active support level, but surprisingly pandemic seemed not to affect Tezos. On the contrary, it showed an altogether different movement. In June 2020, it continued to have an upward swing, with Tezos price trading around $2.07.

During the beginning of the last year, the XTZ coin was trading below $2 with enormous bullish momentum. Around last May, Tezos has marked a new high of $7.5 amidst significant volatility. After that, it fell to the low of around $2.15 in the last mid-July. However, after that, the XTZ has marked gradual price rise and on October 04, 2021, it registered an all-time high of $9.18. However, after hitting an ATH, it faced tremendous bearish pressure and recoreded continual fall till date. Going by the technical price analysis, Tezos has shown tremendous potential consistently performing and recovering the lost value. XTZ today marks a considerable momentum leading to quite a bullish pattern boosted by strong growth.

XTZ, the native token that is traded on various exchanges by millions of users worldwide, is yet to position itself in the mainframe of investment-worthy currencies. However, this crypto asset is to gain traction with investors as the market shows uncertainty towards its inherent potential. It can be clearly defined that Tezos, listed as XTZ on various exchanges, has positioned itself among many of the top currencies but to stay at that level, it has to exploit its maximum potential.

While the pivotal developments have impacted the XTZ/USD price, pushing them in a positive direction, the market seems to be holding a lot more promise in the years to come. A hurdle in the way of the prosperity of Tezos cryptocurrency is that it is massively reliant on decentralized Apps for which the prices are purely dependent on market movement. The rivals of Tezos viz. ETH, EOS, and Monero are competitors of the equal game. Hence to expect a very high windfall profit on XTZ is entirely dApps market-oriented.

Tezos: The Rising Sun

Tezos price prediction has truly somersaulted in the last year, totally transforming the trend from the beginning towards the end of the year. XTZ has had a historic journey throughout. All said and done XTZ trend has been quite aggressive, leading to a very optimistic path. The coin may grow in leaps and bounds, especially for alliances. New partnerships would bring XTZ to the limelight, making it the center stage for investments and a socially esteemed cryptocurrency. In the process, more transactions shall be executed with every passing second, which may prove a tough challenge for crypto rivals of XTZ.