After Satoshi Nakamoto’s invention of Bitcoin, cryptocurrencies became very popular in 2009. Nakamoto, the pseudonymous founder of Blockchain technology, was the first to use it. These digital assets are flourishing on a global level. Other digital assets have also made their debut on the market since the creation of Bitcoin. They can be used to hedge inflation and store value. Tezos is one of many cryptocurrencies that seems to be gaining weight. This article will talk about Tezos and examine whether it is worth keeping for the future.
Brief History Of Tezos
Tezos’ history dates back to 2014, when Arthur Breitman created its white paper. Breitman claims that Tezos was created to address the weaknesses of Ethereum and Bitcoin. It also aims to include users in its governance. Breitman and Katheleen suggested that token holders participate in future upgrades and development of this project.
What is Tezos (XTZ), and what are its benefits? Tezos, like all other cryptocurrency, is a Blockchain network that is linked to Tez. Tez holders often receive the cryptocurrency as a reward for taking part in the Blockchain’s proof of-stake consensus. It also uses on-chain governance to manage, control, and implement future changes to the network. It is a flexible Blockchain network that uses a self-amending protocol. Smart contracts are used by the Blockchain network. It also allows its owners to modify the rules of the network. The project has had its ups as well as downs. It has risen to the top 50 cryptocurrencies worldwide and is now in the midst of a storm.
How Does Tezos Work?
Tezos can’t be mined by traders, as explained above. However, users can use it to contribute to the project’s development. Tezos has a high level of flexibility compared to other Blockchain networks. According to the developers, users have the power to make changes to the network. Users get rewards for making changes to the network. The Blockchain project’s governance is another distinctive feature. This means that the more people contribute, the more incentives they receive. Tezos Blockchain lets token holders vote without any superiority or inferiority.
Is Tezos A Good Investment?
The perception of cryptocurrency has changed over the past few years to be more positive. Many investors still consider volatile assets a good investment, despite the volatility in crypto assets’ prices. Their popularity is also rising. Tezos is not exempted in this instance. Analysts recommend that Tezos be considered a long-term investment, despite its volatility. If an investor is looking for a long-term reward, this is a good option.
The issues surrounding the ICO launch in 2017 seem still to be lingering around the image and reputation of the Blockchain network. This led to investors filing numerous lawsuits against Blockchain project. Developers did not issue tokens after the ICO. The project settled investors who had lost money. After being ordered by the court to pay $25 million in settlements, it gave investors $16million. Many investors remain uncertain about the project’s future because of ongoing issues.
Tezos has been like every other cryptocurrency and will continue to rebound, even if it hits lows. It is a great investment for the long term, as its price analysis shows. Despite the fact that the crypto asset has seen several lows this year traders cannot ignore its growth.
Coinbase
Coinbase has once again shocked the cryptocurrency world with an announcement that they have begun exploratory research to add five new assets. Some of these assets are surprising, but others have been known for some time due to their growth.
The Five Suspect Lineup
It is important to remember that Coinbase has stated in clear terms that they cannot guarantee that any of these assets will ever be added. Instead, the company stated they will start to investigate these assets and determine if they can be added from both an technological and legal perspective.
Cardano and Basic Attention Token are among the assets under investigation. Zcash, Stellar Lumens, 0x, 0x and Zcash are also included in the list. Ripple XRP is one asset that is missing.
XRP Supporters Furious
Coinbase’s recent announcement that they would include Ethereum Classic was met with a furious response from investors who were expecting XRP to be the next asset. This time, XRP enthusiasts are expressing their discontent and fury once again.
Twitter user admonished all XRP investors to “delete Coinbase”, as the exchange has not shown any interest in their asset.
Another disappointed XRP believer
Bitcoin is a centralised, hackable, and purposeless cryptocurrency. The $XRP Hodlers aren’t relying on a listing for this digital assets to moon. It’s just nonsense they are going to list ETH Classic as well as some of these. #XRP will accomplish what bitcoin fans have always dreamed of 1/2. Another interesting aspect was the large number of tweets asking for other assets to be added in future. More than a dozen users asked for DigiByte to be added to the exchange, while a few others requested Verge assets.
Questions about Zcash Privacy. Zcash is unique among all the assets offered by Coinbase because it allows for anonymous transactions. Zcash transactions cannot be traced, but they can be anonymized with the right wallet. Coinbase may not accept Zcash deposits from anonymous sources. The post states: You may not be able to interact with these assets via our site in certain ways. For example, we might only allow withdrawals and deposits from transparent Zcash addresses.
The blog post that announced the exploration of new assets also stated that it is possible not all assets may be available for trading in all areas. Some assets can only be bought or sold within the platform. However, withdrawals and deposits will not be permitted. Coinbase has not yet made any statements about how this would work, as we are still at the early stages.
Ethereum Classic
A section of the blog post provided additional information about the forthcoming launch of Ethereum Classic trading support. The article stated that Ethereum Classic is already a confirmed asset, and will be made readily available when it is ready. Ethereum classic is not as complicated as the other five assets that were announced today, which are still in exploratory phases. It is technically almost identical to Ethereum and has been supported for quite some while.
The Medium post in question says: We are currently working on engineering to add Ethereum Classic (ETC) to the platform. It is progressing as planned. This announcement is made so that we can move on to the next phase of our work to add more assets to the platform.
The Markets Respond
All five assets that Coinbase is currently exploring saw sharp price jumps following the announcement. Some even jumped as high as 25%. It is possible that we will see more general upward movements like Ethereum Classic did since its announcement. It is possible that some, or all, of these assets may not end up being added or modified to Coinbase.