Tezos (XTZ) is a decentralized blockchain that allows for self-amendment through on-chain governance, enabling network upgrades without requiring hard forks. Stakeholders can vote on protocol amendments, ensuring that the system evolves while maintaining decentralization. Tezos utilizes the Michelson smart contract language, designed to support formal verification, making it particularly suited for high-security use cases.
Tezos was founded by Arthur Breitman and Kathleen Breitman, with the initial whitepaper released in 2014. The Tezos Foundation oversaw the development of the project, and its Initial Coin Offering (ICO) in July 2017 raised a historic $232 million. The network's mainnet officially launched in September 2018, introducing a flexible and secure blockchain infrastructure.
Since its launch, Tezos has undergone multiple protocol upgrades, with the most recent being the Paris Upgrade in June 2024. This upgrade significantly enhanced Tezos' scalability by reducing block times from 15 to 10 seconds and introduced the Data Availability Layer (DAL), which enables Tezos Smart Rollups to reach throughput levels of up to 1 million transactions per second (TPS). These innovations aim to improve the user experience for decentralized applications (dApps) and enhance the network’s scalability.
The Paris Upgrade also introduced the Adaptive Issuance and Staking mechanism, allowing more flexibility in staking rewards, while further refining the Proof-of-Stake (PoS) model to streamline consensus processes. Additionally, Tezos has maintained its focus on improving developer experience and expanding interoperability, targeting the integration of more programming languages and runtime environment.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Tezos (XTZ) and review the project details below.
What is the allocation for Tezos (XTZ)?
Tezos conducted a distinctive initial coin offering (ICO) that permitted participants to contribute Bitcoin (BTC) and Ethereum (ETH) in return for XTZ tokens. The XTZ tokens created during the ICO were distributed among the contributors, with designated portions set aside for the Tezos Foundation and other invested parties. The foundation plays a crucial role in fostering the advancement and widespread adoption of the Tezos blockchain.
- 79.59% is allocated to ICO participants
- 10% is allocated to Tezos Foundation
- 10% is allocated to Dynamic Ledger Solutions
- 0.41% is allocated to Early backers and contractors
What is the supply schedule for Tezos (XTZ)?
Tezos employs an adaptive supply mechanism called "baking" and "endorsing." XTZ token holders can engage with the network through "baking" (staking) and "endorsing" (validating) transactions. By undertaking these activities, they are compensated with newly created XTZ tokens. The precise rate of token generation is contingent on network activity and is structured to uphold a relatively stable annual inflation rate. XTZ issuance sees an annual increase of approximately 5.5%, and all rewards from this additional issuance are allocated to Tezos validators. However, it's worth noting that the annual XTZ issuance rate of 5.5% is not set in stone; the white paper suggests that the issuance interest rate will eventually stabilize at around 1%.
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Tezos is a multi-faceted and evolving cryptocurrency and blockchain platform. Here's a detailed introduction based on the latest information:
In summary, Tezos is a dynamic and secure platform for Web3 applications and smart contracts, backed by a strong community and recent technical enhancements that make it a significant player in the cryptocurrency space.
Tezos belongs to the secure sector, specifically in the domain of cryptocurrencies and smart contracts. It is an open-source blockchain that executes peer-to-peer transactions and serves as a platform for deploying smart contracts. Additionally, Tezos has been utilized for Non-Fungible Tokens (NFTs) as an energy-efficient alternative to other blockchains like Ethereum.
The current situation and development prospects of the blockchain sector, as of 2023, are quite dynamic:
In conclusion, the blockchain sector, to which Tezos belongs, is undergoing rapid development and expansion into various industries. Its growth is driven by technological advancements, increasing investment, and a broadening scope of applications, despite facing challenges like regulatory uncertainties and technological limitations.
The tokenomics of Tezos, revolving around its native token XTZ, include aspects of governance, staking, inflation, and distribution. Here's a detailed overview:
Governance
XTZ holders use their tokens to participate in governance, allowing them to vote on existing proposals or propose new ones. This democratic approach lets the community guide the project's direction. Staking 8,000 XTZ grants the ability to vote, and holders can delegate their voting power if they wish.
Staking
Tezos uses a Proof of Stake consensus mechanism, enabling XTZ holders to sign, validate, and produce transaction blocks. Staking can be done by running a node or by delegating tokens to others. Rewards are given in XTZ, proportional to the staked amount. The annual interest rate from staking is around 6%, although this rate varies based on the number of tokens staked and network activity.
Token Supply and Inflation
XTZ is an inflationary token, with most new tokens being generated through staking. It has a market cap of $1.2 billion, a daily trading volume of $31 million, and a circulating supply of 912 million tokens. New tokens are produced with each new block and primarily from staking rewards. The token has an inflation rate of approximately 18% per year and does not have a capped total supply, impacting its supply and demand dynamics. However, a significant portion of XTZ tokens are staked and locked within the network, providing stability.
Burning Mechanisms
XTZ incorporates burning mechanisms to mitigate inflation. Burning occurs when data is stored on the blockchain, when bakers (validators) act maliciously, or when trades are made on specific contracts. This helps to balance the inflationary aspect of the token.
Token Distribution
About 80% of XTZ tokens were allocated to participants of its Initial Coin Offering (ICO), while the remaining 20% were distributed to the Tezos Foundation, early backers, and the dynamic ledger solutions business entity representing Tezos.
Token Release Schedule
Unfortunately, specific details regarding Tezos' token release schedule and long-term supply mechanism were not readily available in the sources I accessed. This information is crucial for understanding the future supply dynamics of XTZ and how it may affect its value and utility over time.
In summary, Tezos' tokenomics involve a combination of democratic governance, staking rewards, inflationary token supply with burning mechanisms, and a balanced initial distribution. The lack of a capped total supply and the variable staking interest rates are significant features of its economic model.
Tezos, a notable project in the blockchain world, was co-founded by Arthur and Kathleen Breitman. Their insights, reflected in their 2014 White Paper, laid the groundwork for Tezos. Kathleen Breitman is a key executive at Tezos, alongside others like Edward Adlard, the VP of Growth, BD, and Strategy.
The Tezos Foundation, established in Zug, Switzerland, plays a crucial role in supporting the Tezos protocol. Supervised by the Swiss Federal Foundation Supervisory Authority, the foundation focuses on promoting Tezos through various grants and capital deployment methods.
In terms of funding, Tezos has raised a significant amount of $242 million over four funding rounds. The latest funding round occurred on July 10, 2018, from a Venture - Series Unknown round. Tezos has received backing from seven investors, with Continue Capital and Winklevoss Capital being among the most recent. Additionally, the Tezos Foundation allocated a portion of the generated Tezos tokens to themselves following their initial coin offering (ICO), receiving 76,330,692.97 XTZ, valued at approximately $35.9 million at the ICO's price. The foundation was instrumental in this ICO, established in 2016 to raise funds and support the development of Tezos' technology.
Overall, Tezos has demonstrated a strong foundation in both leadership and financial backing, positioning it as a significant player in the blockchain and cryptocurrency space.
List all important events and milestones in the development process of Tezos (XTZ) . Here is a chronological list of significant events and milestones in the development of Tezos:
These events highlight the journey of Tezos from its conceptualization to becoming a significant player in the blockchain and cryptocurrency sector.
Here's a chronological list of significant events and milestones in the development of Tezos (XTZ):
Here is a list of important links related to Tezos (XTZ):
https://tezos.com/get-started/
https://tezos.com/developer-portal/
https://tezos.com/community-and-events/
https://tezos.com/partnerships/
https://tezos.com/buy-tez-xtz/
https://research-development.nomadic-labs.com/
These links provide comprehensive information and resources on various aspects of the Tezos ecosystem.
Tezos (XTZ) is a decentralized blockchain that allows for self-amendment through on-chain governance, enabling network upgrades without requiring hard forks. Stakeholders can vote on protocol amendments, ensuring that the system evolves while maintaining decentralization. Tezos utilizes the Michelson smart contract language, designed to support formal verification, making it particularly suited for high-security use cases.
Tezos was founded by Arthur Breitman and Kathleen Breitman, with the initial whitepaper released in 2014. The Tezos Foundation oversaw the development of the project, and its Initial Coin Offering (ICO) in July 2017 raised a historic $232 million. The network's mainnet officially launched in September 2018, introducing a flexible and secure blockchain infrastructure.
Since its launch, Tezos has undergone multiple protocol upgrades, with the most recent being the Paris Upgrade in June 2024. This upgrade significantly enhanced Tezos' scalability by reducing block times from 15 to 10 seconds and introduced the Data Availability Layer (DAL), which enables Tezos Smart Rollups to reach throughput levels of up to 1 million transactions per second (TPS). These innovations aim to improve the user experience for decentralized applications (dApps) and enhance the network’s scalability.
The Paris Upgrade also introduced the Adaptive Issuance and Staking mechanism, allowing more flexibility in staking rewards, while further refining the Proof-of-Stake (PoS) model to streamline consensus processes. Additionally, Tezos has maintained its focus on improving developer experience and expanding interoperability, targeting the integration of more programming languages and runtime environment.
Above are only for introduction, not intended as investment advice.