What is Tezos: Where & How to Buy Tezos in New Zealand
Tezos is another example of how blockchain technology is used in our lives. It is connected to a digital token named Tez or Tezzie (XTZ). Unlike any other cryptocurrencies, it doesn’t use a mining system for its tokens. It chose to give rewards to the token owners who participated in the liquid proof of stake consensus mechanism. Based on the official explanation, its technology is defined as, “An open-source platform for assets and applications that can evolve by upgrading itself. Stakeholders govern upgrades to the core protocol, including upgrades to the amendment process itself.”
In terms of launching, there are a few crypto coins that have managed to attract attention like Tezos. And it has been thriving well in the market since the release day. How come? Here’s to answer your curiosity.
What is Tezos?
Tezos, or (XTZ), is designed as both a cryptocurrency and a multipurpose decentralized platform that supports the modern decentralized applications (Dapps) and smart contracts in the blockchain system.
Purpose of Tezos
It was originally co-founded by Kathleen and Arthur Breitman, an ex-analyst who worked for Morgan Stanley, a US multinational investment banking company. In the year 2014 since many developers and miners in the past used to argue on various changes on existing blockchains over making decisions creating splits in the community and delay in innovations.
Tezos helps to provide safety and code correctness for deploying blockchain using smart contract systems by eliminating common bugs and forks which disrupt the blockchain system, just like how antivirus software helps to keep our computers safe when we browse online on the internet.
What makes Tezos unique?
It can be baked! Yeah, you read that right. Just like you bake cake and cookies when you have a big family gathering. Baking is similar to mining but you don’t need a lot of electricity or hardware usage to bake. It uses a special “liquid proof of stake” consensus. The more Tezos you bake the more of it you receive as rewards. You can bake your own Tezos if you have adequate or delegate it baking to someone else. Bakers verify the transactions and increase the decentralization of Tezos network.
Tezos has its own native language called Michelson! Michelson is a smart contract language used in nuclear, transportation and aircraft-related industries.
It works on a proof of stake consensus where all stakeholders can participate in evaluation, proposing any changes to the network upgrades, etc.
In July 2017, it held a widely successful initial coin offering (ICO) raising $232 million, one of the largest ICO during that time.
At the time of writing, Tezos was the 11th largest currency by market capitalization. In the past one, its price surged from $1.18 USD on June 9th, 2019 to $3.02 USD on June 5th, 2020.
In December 2019, Tezos partnered with the Blockchain Research Institute in Korea University to develop its smart contract and provide technical support for blockchain start-ups. In March 2020, its co-founder, Kathleen Breitman, has recently turned her attention towards providing video games and card games based on its blockchain.
In May 2020, Banco BTG Pactual. The largest investment bank in Latin America launched security tokens using the Tezos platform.
According to recent news, Miroslav Bodecek, the leader of the Tezos Domain Project Co-ordinator has plans to introduce human-readable blockchain addresses to wallets instead of computer codes to make it easier for common people to understand. An example of such address would be Mary.tez
It has been one of the most promising projects in the crypto road till date with how the project evolved and progressed from being one of the best ICO projects to almost 3 times the increase in market price in the past year. With its distinct liquid proof of stake mechanism and baking, Tezos is likely to capture the attention of a lot of significant companies in the near future.
Where can I buy Tezos?
In France, you can buy Tezos in local shops such as mini-supermarkets, tobacco vendors and gas stations using cards and pre-paid coupons from May 2020.
Easy Crypto NZ offers you a local exchange platform with a friendly interface that allows you to easily buy the desired amount of XTZ tokens with NZD, just as you would with a coffee. You only have to dedicate 1 minute of your time to specify the purchase details and you will get your XTZ.
So, what do you think? How do you feel about this XTZ token now that you have the information about it? Do not hesitate to contact Easy Crypto team if you want to buy Tezos in New Zealand today.
We are always ready to help.