16/10/18 03:05 UTC-4

Basic principles of work of Tezos

Principles of the cypto-exchange Tezos
Principles of the cypto-exchange Tezos

Blockchain technology today is at the peak of its popularity. It began to be used in a wide variety of human digital activities. However, until now, the most famous variant of its application are cryptocurrency financial assets and blockchain system  based on smart-contracts for information storage and financial transactions or ICO.

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The most successful and in demand in our "digital" time are considered to be blockchain-platforms with their own types of cryptographic coins and a high level of protection.

 

Work principles

The Tezos platform was founded back in 2014, thanks to the collaboration of the Breitling family of business programmers and the Swiss company Tezos Fondation. Unfortunately, due to a number of problems from the legislation, it was only three years later that the plan was realized.

For today, Tezos is considered to be one of the most effective cryptocurrency blockchain platform in the world. Tezos operates on the basis of smart- contracts, and is rightfully considered the main competitor of the Ethereum. Some experts in the crypto sphere even nicknamed the Tezos crypto-platform – "death of the Ethereum". The founders of the Tezos platform call themselves "a new digital community."

Speaking about the principles of work, Tezos is equipped with a system of automatically updated algorithms. This algorithmic tool design allows you not to fear the appearance of a lot of forks and hardforks. This will help Tezos to remain a separate and indivisible platform, unlike Ethereum, which, for today, suffers noticeably from a huge number of forks. Network management is carried out in the form of open voting of participants of work on the crypto-platform. From the technical side, this became possible due to the introduction of the Prof-of-Strake protocol algorithm.

TZX is the marker name of the crypto-coin, which is implemented as the only payment unit on the Tezos platform. Today, crypto-assets of Tezos are growing, but experts give disappointing forecasts, as the company-founder of the platform is going through hard times. Despite this, the coin is actively sold on exchanges and exchangers.

 

Capitalization

Speaking about the total capitalization of the Tezos crypto-coin, it is quite good – it is almost 1.2 million US dollars. The exchange rate, in connection with the litigations of the founders, is unstable. At the time of July 2018, it is less than two dollars. The volatility of the coin for the last six months had a maximum limit of 8.9%.

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The coin course is also influenced by the facts that, firstly, it has a unique language for drawing up and implementing smart- contracts, and, secondly, all transactions for the transfer of a financial asset are supported by the Pos protocol algorithm (which significantly affects the principles of mining of Tezos ). The Tezos crypto asset is actively exchanged today on such exchanges as Kraken, Poloniex, Yobit, BitFinex. The purchase of coins is closely tied to the mining process, because according to the Pos protocol, financial assets are not calculated according to the level of computing power of the miners (pools), but by a sophisticated digital analysis method, where the coins are calculated in strict accordance with the number of Tezos coins in the account of the miner.

Editor: Yuliya Soroka

#tzx #tezos #cryptocurrency #blockchain

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