XTZ Tezos

$0.816015

-1.48%

Tezos (XTZ) Price Chart

Download

1H +0.05%
24H -1.48%
1Y -19.04%

Rank #67
Market Cap -1.05% $726,866,563
24H Spot Volume 70.15% $10,383,595.37
24H Volume / Market Cap +1.00%
Circulating Supply 890,751,905.25
Total Supply 980,861,166
Max Supply -
Fully Diluted Valuation -
API ID tezos
Project Start Date Jun, 2018
Contracts & Explorer(s) 0x169...2623a
Websites Website
Links

About XTZ Roadmap & Milestones

Tezos is an open-source blockchain network platform for assets and decentralized applications based on smart contracts. $XTZ is a utility token for the Tezos ecosystem.

What is Tezos?

Tezos is a blockchain network that’s based on smart contracts. Tezos aims to offer infrastructure that is more advanced by combining a self-amending protocol and on-chain governance — meaning it can evolve and improve over time without there ever being a danger of a hard fork.

Stakeholders vote on amendments to the protocol, including amendments to the voting procedure itself, to reach a social consensus on proposals. People who hold $XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers. Tezos supports smart contracts and offers a platform to build decentralized applications.

$XTZ's Utility

$XTZ could be used for transaction fees and smart contract execution.
$XTZ plays a central role in Tezos' consensus mechanism and on-chain governance system.
- Users can stake $XTZ tokens directly on the network to participate in the validation of transactions and blocks. All tokens staked to the platform receive a reward in the form of newly distributed $XTZ tokens in proportion to the number of tokens staked.
- Staking also gives the user pro-rata voting rights within Tezos, enabling stakers to help determine the future direction of the protocol. $XTZ holders without the resources and technical ability to stake directly can delegate their voting power to other bakers. This model lets any token holder participate in Tezos' on-chain governance system.

$XTZ's initial token distribution

Tezos conducted an ICO from June 28, 2017 to July 13, 2017, in which 65,681 BTC and 361,122 ETH were raised. A total of 763,306,929.68 $XTZ were issued at launch and allocated as follows:

79.59% was allocated to ICO participants
0.41% was allocated to Early Backers and contractors
10% was allocated to the Tezos Foundation
10% was allocated to Dynamic Ledger Solutions (DLS)

The $XTZs allocated to the Foundation and DLS are subject to a 4-year vesting schedule with monthly cliffs. The Foundation has half of its $XTZ in a vesting smart contract and another half is reserved for DLS when certain milestones are met. When those milestones are met those tokens will be moved into a vesting smart contract for DLS. Until that time the Foundation will use some of these reserved tokens internally as part of the deposit needed for baking.

What is unique about Tezos ($XTZ)?

Participants of Tezos can get involved with the network’s governance through “baking,” where they effectively stake 8,000 $XTZ. This creates a financial incentive to act honestly. Bakers are then tasked with voting on proposed changes to the blockchain’s code in a four-step procedure that takes approximately 23 days. Proposals that receive support from the vast majority of participants are put through their paces on a testnet for 48 hours and are fully implemented if they are backed by a super-majority.

Tezos uses a variation of a Proof-of-Stake (PoS) system that differs slightly from established models in that block producers are not selected by token holders and anyone can participate as a baker (validator) if they hold a specified amount of tokens. Token holders that do not meet the minimum threshold can delegate their tokens to a baker without needing to relinquish control of their tokens.

Besides, Tezos’ "self-amendment" mechanism allows network upgrades through on-chain voting.

Tezos is now used by high-profile businesses. In September 2020, it was announced that the French banking giant Societe Generale planned to use this blockchain for experimenting with a central bank digital currency. Besides in December 2021, Unisoft, the video game publish giant, revealed an NFT marketplace that allows players to trade in-game items that are tokenized as NFT on the Tezos blockchain.

More examples of its application scenario are displayed below:

Red Bull Racing Honda: Tezos chosen by Red Bull Racing Honda as technical partner for Blockchain and NFTs.
McLaren Racing: McLaren has selected Tezos for a multi-year technical partnership across Formula 1, IndyCar and esports.
OneOf: Eco-friendly music-focused NFT platform built on Tezos with artists such as Doja Cat, Quincy Jones, and John Legend.
Tada: Blockchain ride-hailing app Tada moves to greener Tezos technology.

Theoretically, Tezos does not have a core team, an official team, or employees, because Tezos is not a company, it is an open source software project and blockchain to which anyone can contribute code.

The Tezos Foundation is a Swiss foundation overseen by the Swiss Federal Foundation Supervisory Authority. The foundation aims to promote the promotion and development of new technologies and applications worldwide, with a particular focus on new, open source and decentralized software architectures, including the Tezos protocol and related technologies.

2022 Sep
Kathmandu
Enabled smart contract optimistic rollups on bleeding edge testnets, preparing the protocol for the future full integration of SCORUs. Introduced the first steps of pipelined block validation, aiming to streamline the block validation process. Implemented improved randomness with VDFs, event logging in smart contracts, and more.
2022 Jun
Jakarta
Introduced Transaction Optimistic Rollups (TORUs), an experiment into enshrined rollups, leading to increased throughput, lower fees, and a pathway to significantly increased long-term scalability. Introduced improvements to tickets and sapling, enabling improved network privacy features and increased decentralization for Tezos tokens.
2022 Apr
Ithaca
Introduced Tenderbake, a new and significantly upgraded Tezos consensus algorithm, which enables fast finality and improved scalability for the Tezos blockchain. Introduced a variety of other changes that improve the baking experience, such as reducing the amount of tokens required to be a validator, a rework of the baking and endorsement rewards mechanism, and more.
2021 Dec
Hangzhou
Introduced several improvements such as views which give smart contracts the ability to read the storage state of other smart contracts, timelock encryption to serve as a countermeasure against Block Producer Extractable Value, caching to provide faster access at lower gas costs to data that is accessed regularly, and a global table of constants to facilitate development of more complex smart contracts.
2021 Aug
Granada
Introduced Liquidity Baking, which mints a small amount of tez every block and deposits it inside of a constant product market making smart-contract. This incentivizes large amounts of decentralized liquidity between tez and tzBTC. Included several improvements that led to a 3-6x decrease in gas consumption of popular contracts.
2021 May
Florence
Doubled maximum size of operations, which more than doubled the maximum size of smart contracts. Furthered gas optimizations as well as sped up gas arithmetic by a factor of ten. Enabled more intuitive smart contract development by adopting depth-first execution order. Deactivated unused Test Chain in the Economic Protocol, resulting in more streamlined amendment process.
2021 Feb
Edo
Added Sapling and BLS12-381 to enable privacy-preserving smart contracts and tickets for native permissions. Updated amendment process by lowering period length to 5 cycles and adding a 5th Adoption Period.
2020 Sep
Delphi
Improved gas costs. Reduced storage costs by a factor of 4 to reflect improvements in the underlying storage layer
2020 Mar
Carthage
Tezos holders voted overwhelmingly in favor of implementing the Carthage 2.0 upgrade. The Carthage proposal was a joint effort by crypto research outfits Nomadic Labs and Cryptium Labs to help add some code optimizations and fix a few "small issues." In particular, the upgrade will increase the gas limit for each block and operation by 30%, which allows developers to run more complex applications. Carthage also aims to improve the accuracy and security of calculating baking rewards (especially concerning endorsement rewards). On the security front, the more robust design could hinder selfish-mining like attacks from non-cooperative bakers, which a former Harvard researcher previously revealed as a possible attack vector on Tezos.
2019 Oct
Babylon
Tezos’ on-chain governance system voted in favor of the Babylon 2.0.1 proposal, which was automatically activated when the voting period concluded on Oct. 18, 2019. The new upgrade introduced a more robust version of the blockchain’s consensus algorithm (Emmy+), simplified smart contract development, and refined the delegation process. The Babylon vote also marked a new all-time high in participation in votes submitted (59,967).
2019 May
Athens
Athens was an upgrade proposal created by developer group Nomic Labs. The research outfit submitted two competing proposals in the submission stage: Athens A, which increased the gas limit and lowered the roll size to 8,000 XTZ, and Athens B, which also increased the gas limit but left the roll size at 10,000 XTZ. During the Proposal stage, the Athens A proposal received 70% of the submitted votes. As a result, Athens A moved on to the Exploration phase while Athens B was rejected.
In the final promotion stage, almost 100% of Tezos governance participants voted in favor of implementing Athens A. Over 84% of eligible tokens participated in the vote. The upgrade went live shortly after the vote ended on May 29, 2019.