Author: changehero
December 15, 2021

Tezos is on a roll again thanks to Ubisoft launching an NFT platform for AAA gaming. What other Tezos news played into it and how it affects XTZ price prediction 2022 — we answer in this article. Tezos Price Prediction 2022-2030 [table id=38 /] The XTZ price prediction 2022 gives a large range between $2.31 […]

Tezos Price Prediction 2022, 2025, and 2030

Tezos is on a roll again thanks to Ubisoft launching an NFT platform for AAA gaming. What other Tezos news played into it and how it affects XTZ price prediction 2022 — we answer in this article.

Tezos Price Prediction 2022-2030

[table id=38 /]

  • The XTZ price prediction 2022 gives a large range between $2.31 to the downside and $16 as the high target;
  • By 2025, XTZ can reach $10 and fix above this threshold, according to the forecasts;
  • The targets given for XTZ in 2030 are moderate, only $1–2 above the 2025 targets.

What are Tezos and XTZ?

Tezos logo
Source: Tezos

Tezos is a self-amending smart contract protocol with modular architecture. In other words, it can be used for self-executing functions and programs, like Ethereum.
Tezos was founded by ex-Goldman-Sachs and Google X research engineer Arthur Breitman. With the assistance of his wife Kathleen he wrote its codebase from the ground up, and the two founded the Tezos Foundation.
The motivation to create it was the governance problems in crypto communities: particularly, contentious forking of Bitcoin and Ethereum. By introducing delegated staking and modular architecture, Tezos achieves resistance to hard forks.
Tez or XTZ is the native coin of the network, though colloquially it’s also known as “Tezos”. XTZ are needed to keep track of addresses and secure the network through staking.
If you feel like catching up with what Tezos is before reading the price predictions, we recommend our Beginner’s Guide to Tezos.

XTZ Price History

XTZ Price in 2017-2019

XTZ Price in 2017-2019
Source: CoinMarketCap

Tezos was launched after one of the largest Initial Coin Offerings in history, raising $232 million USD. In October, 2017 preliminary valuations put it at about $2.
Soon the Bitcoin rally caused the rest of the market to rise, and XTZ reached its all-time high of $10.56 on December 17, 2018. However, after that a correction followed, and even despite the mainnet launch in July 2018, XTZ closed 2018 at $0.4626.
In 2019, over the course of the year its price gradually grew up to $1.3 at the end.

Tezos Price in 2020-2021

Tezos Price in 2020-2021
Source: CoinMarketCap

In early 2020, Tezos kept growing until the March 2020 crash, when it lost 58% in a couple of days. It quickly recovered from the low of $1.3 and even renewed a yearly high at $4.4 in August.
2021 started relatively low to that, at $2, but by May rallied up to the yearly price record: $8.40 on May 7, 2021. The price corrected to $2.43 almost as quickly.
The second leg-up started in July and lasted until October 10. It was then that XTZ was able to reach the current yearly top of $9.18 on October 10, 2021.
At the time of writing Tezos is worth $4.52 and ranks 41st by market capitalization according to CoinMarketCap.

What can Influence the XTZ Price?

Protocol Upgrades

The most recent upgrade Hangzhou introduced several quality-of-life features like caching, timelocks and views — new entry points for smart contracts.
The previous upgrade called Granada introduced liquidity baking for the XTZ-tzBTC pool. A constant product market making contract produces block subsidies for liquidity providers and burns a small portion of the fees.
Thus, liquidity providers can gain benefit from baking liquidity and participate in decreasing inflationary pressure. Other improvements Granada brought are reductions in block times and gas fees for smart contract calls.

Adoption

Tezos is actively establishing itself as a platform on which banks and other financial institutions can build solutions. It supports almost all currently existing instruments for DeFi and tokenization.
Societe Generale, for example, is using Tezos to issue digital assets. Game publisher Ubisoft has introduced an NFT platform for AAA gaming on the Tezos blockchain.
NFTs on Tezos in particular are a popular use case: for example, F1 team McLaren issued collectible tokens on this platform. The City of Reno, Nevada, home of the Burning Man festival, issued NFTs of the art piece ‘Space Whale’ and built a DAO on Tezos.

Supply Dynamics

In addition to the already mentioned burn fee from liquidity baking, Tezos has more mechanisms to keep inflation in check.
Particularly, delegated staking makes it so that 72.45% of the circulating supply (according to TzStats) is locked. Reducing the actively traded supply while keeping it liquid creates opportunities for the price to grow.

Latest Twitter posts on Tezos


Tech blogger Jane Wong, who specializes in finding hidden features, discovered an integration of Tezos in Rarible’s website. It will supposedly let users pay with XTZ and EUR-TZ, a Euro-pegged stablecoin on the Tezos blockchain.


Crypto trader Pentoshi highlighted a piece of news on Ubisoft-Tezos NFTs and shared some ideas about it. Simply put, this is a real use case for XTZ and the platform that is being implemented potentially for millions of users.


Twitter user Fr3ud is confident that the price of XTZ is about to break out to new highs. The reason for this is the surge in NFT and dApp usage.

Tezos Price Prediction 2022

CoinQuora XTZ Price Prediction 2022: $16.5

CoinQuora’s technical analysis assumes that a bullish scenario is more likely to come true. If the price keeps up the bullish impulse, in early 2022 XTZ can reach $16.5 and cool down the rally at $15.

LongForecast XTZ Price Prediction 2022: $4.80

LongForecast projects that the uptrend in XTZ will reverse. The highs will be getting lower to a yearly high of $4.80 in December.
For the rest of the year, XTZ will stay in the $2.31–$4.14 range.

CoinTrades XTZ Price Prediction 2022: $16

On a daily chart, YouTuber CoinTrades spots a bounce from the oversold area in the relative strength index, which is a bullish sign. This could potentially lead to an upside move up to $16.
That would need XTZ’s market capitalization to reach Avalanche’s $19 million, which is a little short of entering top-10 at the moment of writing.

Tezos Coin Price Prediction 2023–2024

CryptoNewsZ Tezos Price Prediction 2023: $7-7.50

In two to three years, the CryptoNewsZ team says, XTZ will be more widespread but due to unforeseeable circumstances they keep their expectations low. The 2023 target for XTZ is only $7–7.50.

Digital Coin XTZ Price Prediction 2024: $12.03

Going by projections of the DigitalCoinPrice prediction service, on average XTZ will be worth double digits as soon as in 2024. Moderate volatility will be observed, with highs reaching $12.03 and lows being $8.75.

Tezos Price Prediction 2025

CryptoNewsZ XTZ Price Prediction 2025: $10+

In four to five years we can expect a new market cycle to follow after the next Bitcoin halving. As such, the XTZ forecast is optimistic and reaching the $10 mark is reasonable to expect.

Digital Coin Tezos Price Prediction 2025: $14.07

In a more bullish forecast, DigitalCoinPrice gives an average estimate of $12.93 for XTZ in 2025. Monthly averages range from $11.18 to $14.07.

Gov.Capital Tezos Price Prediction 2025: $23.77

The most bullish forecast for the next few years is given by the Gov.capital service. Using historical data for XTZ, they predict growth from $18.112 in January to $23.767 at the year’s close.

Tezos Price Prediction 2030

It’s hard to predict the price even in the short term, so the more distant future forecasts are even less reliable. Cryptopolitan expects XTZ to rise by 760% by 2030, which would make its price $34.77.
The XTZ Price Prediction 2030 by Coin Price Forecast also assumes that the growth will be happening slowly over time, and by then XTZ will appreciate to $12.40. However, you never know what can happen in almost a decade!

ChangeHero XTZ Price Prediction

Summing all predictions up, it gets obvious that XTZ will eventually reach $10 and even higher.
At the very least in 2025, $10 will be the lowest expected estimate. The Tezos platform is used by plenty of companies and applications, so their future is secured.

How to get XTZ on ChangeHero?

The process of buying XTZ with crypto on ChangeHero is as easy as it gets. It only takes five steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your XTZ are on the way to your wallet. We’ll be happy to hear your feedback if you enjoyed using ChangeHero.

Support team is always available in chat on our website, official Telegram group or through the email: [email protected].

Conclusion

When it comes to NFTs, Tezos seems to be a real competition to Ethereum: the ecosystem and community are absolutely blowing up. This is especially evident thanks to impactful partnerships and deals in the news.
You can always find more about Tezos and similar projects in our blog. For daily content, subscribe to ChangeHero on Twitter, Facebook, Reddit and Telegram.

Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is Tezos?” answer-0=”Tezos is a blockchain-based platform that supports smart contract programmability, like Ethereum. Its main difference from it is energy-efficiency, which is achieved thanks to the Delegated Proof-of-Stake algorithm.” image-0=”” headline-1=”h4″ question-1=”What is XTZ used for?” answer-1=”XTZ is used in applications developed on the Tezos platform, including DeFi protocols and NFT marketplaces, to transfer value and pay for network fees. Staking or delegating XTZ lets one take part in the governance and can serve as a source of passive income.” image-1=”” headline-2=”h4″ question-2=”How much will XTZ be worth in 2022?” answer-2=”According to different analysts, in 2022 Tezos price can grow to $5.70-11.” image-2=”” headline-3=”h4″ question-3=”How much will XTZ be worth in 2025?” answer-3=”Depending on the source, XTZ coins can grow up to $23.17 in 2025.” image-3=”” headline-4=”h4″ question-4=”How much will XTZ be worth in 2030?” answer-4=”While not certain, analysts predict that in 2030 XTZ will be changing hands for up to $34.77.” image-4=”” headline-5=”h4″ question-5=”Is Tezos a good investment?” answer-5=”Most opinions reviewed here agree that Tezos is a profitable investment.” image-5=”” count=”6″ html=”true” css_class=””]


Disclaimer

This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.

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Author: changehero
June 16, 2021

In the six years since the start, Ethereum has given blockchain developers opportunities to build protocols and applications for just about any use case. However, Ethereum is far from perfect, and there are other platforms hoping to achieve its success by eliminating the flaws. In this guide by the ChangeHero team find a review of […]

Ethereum Killers 2021

In the six years since the start, Ethereum has given blockchain developers opportunities to build protocols and applications for just about any use case. However, Ethereum is far from perfect, and there are other platforms hoping to achieve its success by eliminating the flaws. In this guide by the ChangeHero team find a review of all of the alternatives that are nicknamed “Ethereum killers”!

Key Takeaways

  • “Ethereum killers” are what blockchain projects are often called if they can perform the same functions as Ethereum and also fix some of its shortcomings;
  • Some of the drawbacks Ethereum alternatives attempt to fix are scalability and throughput, as well as environmentally unsustainable consensus algorithm;
  • These Ethereum alternatives include Polkadot, Cardano, Tezos, Solana, Binance Smart Chain and EOS.

What is Ethereum and its use cases?

Ethereum is a distributed blockchain network capable of executing smart contracts, which power everything from tokens to sophisticated applications. This range made it possible to develop solutions such as stablecoins and self-executing contracts, making DeFi possible.
Decentralized finance (DeFi) includes a vast array of services and apps that operate with the help of blockchain and cryptocurrencies. It’s been around for years but truly gained recognition in mid-2020, and even now about 90% of it is on Ethereum.
With each year, more and more applications are built on Ethereum, which positively affects the price of its native currency. To use a stablecoin, mint an NFT or utilize an application, the user has to pay the network fee in ETH.
For a more detailed breakdown of Ethereum and ETH, we recommend checking out our Beginner’s Guide.

ETH price chart
Source: CoinMarketCap

In the first half of 2020, ETH price was mostly following BTC. With the growing popularity of DeFi in August 2020, ETH price followed: from $230 to $440.
Since then, it continued the uptrend and started a bull run together with BTC in late 2020. 2021 started with ETH at $730, and on May 12 it reached its ATH: $4,362.35.
Now (at the time of writing) Ethereum price is $2,579.03 according to CoinMarketCap.

Ethereum’s Disadvantages

If Ethereum is so good, why are there Ethereum killers? Obviously, it is not perfect.
What is the “Ethereum killer”, anyway? It is a nickname given to networks that can perform most functions of Ethereum but also have a competitive advantage.
In Ethereum, scalability bottlenecks remain largely unsolved on the main chain even after six years in mainnet development. At this point, layer-two solutions like Plasma and optimistic rollups are a better alternative but they require more development acumen.
Because of low throughput (15 transactions per second) and increasing demand, Ethereum users compete to get their transactions processed faster. As a result of this feedback loop, network fees get higher for everyone.
Ethereum as a Proof-of-Work blockchain is also a target of criticism in the debate of the ecological impact of cryptocurrencies.
To make sure it’s always online and properly synchronized, the network relies on miners, who solve cryptographic hashes using computing power. Miners always have to get more equipment and use more electricity to stay competitive and gain the rewards.
Eventually, Ethereum is supposed to migrate to the Proof-of-Stake (PoS) model which won’t require mining to operate. However, the plans to change to PoS have been around for years, and don’t seem to be coming to fruition any time soon.
One of the possible reasons is that updates have to be locked in by miners, and discussions can take a while. Then, the network undergoes a hard fork on a set day, so everyone can update: otherwise, they won’t be able to use it.
What Ethereum alternatives 2021 are trying to take its crown? Let’s review the most popular and see what they try to fix.

Ethereum Competitors

Polkadot

Polkadot is one of the most recent but also advanced Ethereum alternatives. 
Instead of going the route of supporting smart contracts, Polkadot acts as a platform connecting blockchains. Polkadot sidechains can have different rules and execute smart contracts, too.
In Polkadot, Proof-of-Work is replaced with Nominated Proof-of-Stake (NPoS), in which validators and nominators are chosen from the pool. This lowers the barrier to start earning rewards and significantly reduces the energy consumption.
Polkadot even at the base layer can process 1,000 transactions per second, and sidechains scale the network even further. To code smart contracts and applications, developers can use languages ranging from Rust to JavaScript.
Another noteworthy feature of Polkadot is flexibility, thanks to which the network doesn’t need to hard fork. This is where DOT comes in, because this token is needed for voting.

ADA price chart
Source: CoinMarketCap

DOT was launched in August 2020, right at the height of the DeFi summer. It was too new to gain recognition and rise in price immediately, but in late 2020 it went on the bull run, too.
2020 closed and 2021 opened at $8, and like ETH, on May 15 DOT reached the yearly and all-time maximum: $49.69. At the time of writing, DOT price is $24.25.

Cardano

The Cardano blockchain is one of the first among Ethereum killers.
Can Cardano replace Ethereum? Eventually, but not yet: they have just entered the stage of development which will introduce smart contracts.
Unlike Ethereum, Cardano has operated on Proof-of-Stake since the very beginning. Among Ethereum competitors, it is also one with a higher number of stake pools (2,756 according to Cardanoscan).
With L2, Cardano potentially can work faster than Visa at 65,000 transactions per second. Their development can move somewhat slowly with formal methods and peer reviewing, but they have a clear roadmap in place.
Therefore, for now, the primary purpose of ADA, besides value transfer, is for staking. How did it affect its price for the last two years?

ADA price chart
Source: CoinMarketCap

Most of its price history ADA spent in the sub-dollar zone. In 2020, it started at $0.033 and closed the year at $0.1814, rising with the bull run.
In 2021 so far, the highest it’s been is $2.46 on May 16. At the time of writing, the ADA price is $1.55.

Tezos

Another alternative to Proof-of-Work Ethereum is Delegated Proof-of-Stake Tezos. The architecture of the network supported smart contracts on launch, so unlike Cardano, Tezos could compete with Ethereum right away.
While 40 tps that Tezos can support on the base chain don’t seem very fast, it is still more than two times Ethereum’s throughput. Tezos uses a unique programming language, OCaml, which can identify blocks, protocols and transactions — main components of a blockchain structure.
Outreach and awareness campaigns are carried out by Tezos Foundation, a non-profit organization. They scored a few large partnerships, like collaboration on digital currency with Societe Generale or City of Reno, where the Burning Man festival is held.
What else Tezos has to offer? You can read in our Beginner’s Guide to Tezos!

XTZ price chart
Source: CoinMarketCap

In 2020 and 2021 Tezos price was in an uptrend. Last year, it climbed from $1.37 at opening to $2 at closing.
In 2021 it experienced some strong volatility and peaked at $8.40 on May 7. Tezos has been collaborating with celebrities and music distributors to offer NFTs on a platform alternative to Ethereum.
At the moment of writing XTZ price is $3.26 according to CoinMarketCap.

Solana

Ethereum alternatives that launched in 2020 have had the luxury to account for DeFi as it is now in their design. Solana is one of those “Ethereum killers” created with this emerging fintech sector in mind.
The main advantage of Solana in comparison to Ethereum is throughput: up to 50,000 transactions per second. This speed is achieved thanks to the combination of PoS and unique Proof-of-History consensus algorithms.
There is more to learn about this novel blockchain, and we covered all you need to know in our guide.
Community and grant winners are developing swaths of DApps on Solana, mostly DeFi-oriented, like DEXs and AMMs. Many of them are the easiest to use with the native currency SOL.

SOL price chart
Source: CoinMarketCap

2020 has been more than decent for SOL price, as it started trading at $0.7 and closed the year at $1.8. But it wasn’t until 2021 when SOL reached the peak of its price history: $58.30 on May 18.
After crashing from the peak, it managed to regain most of the losses from the correction and SOL price is $37.56 at the time of writing.

Binance Smart Chain

The network that got the closest to being an Ethereum killer 2021 is Binance Smart Chain. It is an Ethereum virtual machine-compatible chain that launched in 2020.
The compatibility means developers can build apps in the same way they would on Ethereum or simply migrate. Binance Smart Chain is also fully interoperable with Binance Chain, which has supported BNB since 2018.
You can find the full history and all details about BSC, BC and BNB in a guide from ChangeHero.
BSC truly blew up in early 2021 because meteoric rise of ETH caused network overload and high fees. Users that chose this Ethereum alternative appreciated higher transaction speeds and lower costs, which in turn caused rapid appreciation of BNB.

BNB price chart
Source: CoinMarketCap

BNB holders had a pretty fruitful 2020: over the year, it grew from $13 to $38, almost by 200%. But then, 2021 happened: BNB flew to $690 at the peak (May 10, 2021), a 1,670% increase.
With such a sharp BNB price rise, no wonder new Ethereum killers appear so often! Now, at the time of writing, BNB price corrected to $353.25.

EOS

EOS is an open-source platform for DApp development developed by Block.one. It launched in 2018, when the design flaws of Ethereum became obvious and Ethereum killers started to emerge.
EOS blockchain set out to fix scalability and approachability issues. While scalability should be obvious by now, approachability means that EOS supports applications written in non-blockchain-specific languages.
By default, it does not suffer from bottlenecks Ethereum deals with because of PoS. Independent reviews proved that EOS can successfully achieve 4,000 transactions per second.
EOS Public Blockchain uses Delegated Proof-of-Stake and stake-weighted voting. It means EOS coin holders not only can stake it to get rewards but also vote in proportion to their stake.
In September 2020, Block.one launched a PowerUp model, in which users can power up their accounts with EOS and collect network fees.

EOS price chart
Source: CoinMarketCap

That new feature did not seem to impact the price much: in 2020 EOS opened and closed at $2.60. In 2021 so far, EOS did not get the chance to renew its ATH yet but it did reach $14.37 on May 11.
At the time of writing EOS price is $4.95 and it ranks 27th according to CoinMarketCap.

Conclusion

What is the best alternative to Ethereum? There is no conclusive answer because all reviewed networks can do some things better but have their own trade-offs.
It is still important to have Ethereum killers because competition helps products improve: if not for it, Ethereum wouldn’t progress. It’s hard to predict the future, everything changes rapidly in the crypto world, and in a few years Ethereum might be dethroned.
Did you enjoy the review? Check out our blog for more or our social media: Twitter, Facebook, Reddit and Telegram.


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Author: changehero
August 25, 2020

A few days ago Tezos was back in top-10 currencies and scored a new all-time high for the price. What is Tezos and its native currency XTZ? What XTZ news could have made it shoot up? How to buy XTZ? How to exchange Tezos? ChangeHero team will explain it in this Tezos guide. What is […]

Tezos Beginner's Guide

A few days ago Tezos was back in top-10 currencies and scored a new all-time high for the price. What is Tezos and its native currency XTZ? What XTZ news could have made it shoot up? How to buy XTZ? How to exchange Tezos? ChangeHero team will explain it in this Tezos guide.

What is Tezos?

Tezos logo
Source: Cryptocurrency Hub

By definition, Tezos is a self-amending protocol with modular architecture built from the ground-up. It has the support of smart contracts (self-executing programs, like in Ethereum) written in a special coding language, Michelson.

The main motivation to build a new network for the founders was the governance issues that were present in contemporary crypto communities. By the time Tezos came to be, the Bitcoin community had split, and they forked the network. The Ethereum community seemed really dependent on the Ethereum foundation and the core team of developers, who also amended the network after the DAO (Decentralized Autonomous Organization) incident (it was supposed to be a venture fund for startups that build on Ethereum, but lost all investments because of an exploit; Ethereum foundation essentially rewrote the ETH history to return the lost funds). Smaller communities were no strangers to these kinds of hindrances, too. A possible solution was to create a network that would never have to fork and be governed by its community in a democratic way.

How did the developers try to build a network which can achieve this goal? Let’s have a look at the beginnings of the project!

How was Tezos started?

With this vision in mind, Arthur Breitman began working on the first drafts of the Tezos memorandum and whitepaper in 2014. Since the very start, his wife Kaithleen also contributed and provided support to the project. As the whitepaper had it, Tezos was envisioned as the cryptocurrency that would hopefully end the seemingly never-ending process of splitting and forking the existing cryptocurrencies.

In 2015, Breitman tried to receive funding for the project from institutions, but to no avail. An alternative springed to the founders’ minds a year later – they would settle on raising funds through an ICO (Initial Coin Offering, a pre-sale of tokens to early investors at a price lower than is expected after the launch). It was conducted in the famous Switzerland’s “Crypto Valley”, Zug by the newly formed Tezos Foundation with Johann Gevers as the head of it.

The ICO raised $232 million in USD at that time, becoming one of the most successful ones to date. However, after that, legal and corporate troubles have arised. The internal power struggle between the Breitmans and Gevers threatened to make the startup fall apart, and the delay in token distribution to investors resulted in several lawsuits. This also brought the attention of the U.S. Securities and Exchange Commission, which deemed the tokens a security under the U.S. law. As a result, the Foundation had to implement a KYC procedure for the investors that wished to claim their tez a year after the ICO had finished.

At last, the beta net was launched in June, 2018, and the mainnet launch happened on September 17, 2018.

Now that you know more about how the project came to be, it’s time to pass on to the specifics: what was all this for and why did investors believe in Tezos so much?

What is special about Tezos?

As it was previously mentioned in this Tezos guide, the main feature of its protocol is the ability to be amended without having to fork or split the chain. This is possible thanks to the modular nature of its code, built from scratch.

Since it is amendable, scalability should not ever be an issue for the network. Even now, with block time of 1 minute on average and a cap on every transaction of 512 kB (instead of a cap on every block), it has the throughput of about 40 transactions per second (which is 5-6 times more than in Bitcoin and almost three times more than in Ethereum).

Baking

Baking tezos
Source: Medium

To secure and propagate the blockchain, instead of the Proof-of-Work (in which “work” refers to the computations miners perform to solve cryptographic hashes of each new block) it uses a more efficient Proof-of-Stake consensus algorithm. In Proof-of-Stake networks, new blocks are added or confirmed by the participants that have frozen a part of their funds in the network. The larger their stake is, the more chance they get to be picked as a new block creator, which yields block rewards and transfer fees. In case a node misbehaves, the stake gets slashed (in Tezos’ case, half of it is burned and the other half is given to the next block creator). In Tezos it is referred to as “baking” because it is a sort of cross between Proof-of-Work (transactions are included in a new block by a delegate) and Proof-of-Stake (newly baked blocks also get endorsed by a randomly selected committee of other delegates). The term “baker” refers to the delegate who is making the next block. Baking is also unique because the delegated stake is non-custodial and those who delegate a share of their XTZ to a baker can have a share of the block reward.

As a result of baking, new tez (XTZ) are minted. Let’s see what those are all about!

What is XTZ?

Tezos Price graph
Source: Cryptocurrency Hub

Tez (XTZ) is the coin native to Tezos network. Conventionally, though, it is also referred to as “Tezos”, and in this Tezos guide we might use the terms interchangeably. As in other Proof-of-Stake systems, XTZ has an important part in securing and governing the network: as we covered already, to bake new blocks, a certain amount of XTZ must be staked to ensure consistently fair behavior. Since not all XTZ owners are interested in participating in consensus, they can delegate some of their XTZ to an active baker of their choice. Worry not – they cannot use or spend the delegated coins.

Another function of XTZ is to help keep track of accounts in the system. All active accounts must have 0.275 XTZ in balance. This is a security measure to weed out empty addresses and not track them.

Native tokens’ worth is generally defined by the worth as a network as a whole. So how did investors throughout the history of Tezos deem the worth of its coin?

How much is an XTZ?

XTZ price chart
Source: CoinMarketCap

Tezos ran a highly successful ICO by 2017 standards, raising $232 million in funding. However, legal trouble and corporate dispute led to significant delays in delivering, and the beta version of Tezos saw the light of the day almost a year later, in July, 2018. It was the midst of the 2018-2019 bear market, and at that time, XTZ went as low as $0.30-0.40 dollars. In the spring of 2019, it briefly rebounded, and ultimately, 2019 ended on a higher note for XTZ than for many other currencies – about $1.30.

In 2020, the currency has been scoring new records. First, in February, when it jumped to $3.75 but soon collapsed with the rest of the market. The second peak and the current ATH were recorded on August, 13, when the XTZ price climbed up to $4.48.

At the moment of writing this Tezos guide, the market capitalization ($2,692,850,129) divided by the circulating supply of tez (740,443,908 XTZ) gives a definite $3.63 for a unit. According to CoinMarketCap, XTZ ranks 13th.

Now that you probably know what the worth of XTZ is, you may ask how to buy XTZ or how to exchange Tezos. Keep reading till the end of this Tezos guide for instructions!

How to use XTZ?

The primary uses for Tezos native tokens is the governance and gas fees in the Tezos network. In the future, they will be targeting private companies that want to utilize blockchain technology, since the network is resistant to forks and is quite transparently governed. As more applications get developed on this platform, the higher the demand for XTZ might become. 

As we hint further in this Tezos guide, the developers are getting ready to enter the market of DeFi, so there is a great chance that the demand for XTZ will skyrocket as soon as it happens.

Is Tezos controversial?

Tezos did not make the most positive first impression for many investors due to its complicated launch history. It was bitterly ironic that the project that was supposed to end forking in cryptocurrencies at some point was under a threat of community split in the wake of its launch. A nTezos instantiation of the network that almost came to be after the Tezos Foundation announced the KYC/AML requirements.

There is also the aftermath of the ICO campaign in the form of class-action lawsuit from the U.S. investors. XTZ has almost been ruled out as a security by the SEC, which would make its sale illegal under U.S. law. In the latest XTZ news, though, the Tezos Foundation is very likely to dodge the legal trouble by settling the lawsuits.

How is Tezos different from Ethereum?

Tezos is often compared to Ethereum, since both of these networks can act like decentralized computing systems and have smart contract capabilities. The few key differences between them are:

  • Ethereum still relies on mining, Tezos, as a PoS network, on the whole is more energy efficient;
  • Ethereum smart contracts are a layer-two solution, while Tezos incorporates them into the original layer;
  • Ethereum’s governance and development mostly is carried out by Ethereum Foundation, a group of core developers. Tezos was created with the goal to include all network participants into a self-governing commonwealth in mind.

Since the community has such a significant role in the life of the project, let’s see for ourselves what they are saying and what are the sentiments in it in the next section of this Tezos guide.

XTZ News from Social Media

The next implementation of Tezos that the contributors are working on is called Carthage. Unlike a hard fork in other networks, this is an upgrade that will expand on the network without affecting it entirely. As Brad Griffin points out, in the upcoming releases the possible applications of Tezos in the growing sector of DeFi will be expanded significantly.

Another trader who is as bullish on Tezos as Griffin, Tai Zen, based on the forming diamond pattern on the XTZUSD chart, predicts a new bounce up for the price.

Tezos has the support of many influential voices of the crypto community, like Spencer Noon. He’s been a supporter of the project for quite a while, and quite a believer, too!

Finally, trader Cryptobirb has a short-term prediction for XTZ that echoes the previous statements: the recently seen ATH is soon to be revisited, and from there on? Probably, the moon.

What are the future plans of the Tezos community?

As a project governed by the community, there can be no official roadmap or a pipeline, only a set of initiatives put forward by the members. The discussions happen on the Tezos Agora forum, then they are submitted for the on-chain voting.

There are a few communities working on the Tezos ecosystem at the moment of writing this Tezos guide, like Tezos Commons Foundation, TQ Tezos and, of course, Tezos Foundation. The latter has a grant system, and the concepts that they are willing to incentivize are:

  • Thematic educational resources;
  • Tools for smart contract development;
  • Research of core protocol components;
  • Decentralized apps with a special interest in DeFi (decentralized finance).

It is fair to assume that these are the directions we will see Tezos developing forward to.

How to buy XTZ?

If you already own crypto, the best way to get XTZ would be to exchange it for Tezos on ChangeHero! Unlike a conventional crypto exchange, ChangeHero does not require you to sign up or to make a deposit. Therefore, you don’t give away your assets or your personal data. The whole process will take just a few minutes and is easy, and in case of any trouble the support has got your back 24/7. In the following sections we’ll walk you through it, so keep reading this Tezos guide!

Where to store XTZ?

As one of the top assets on the crypto market, Tezos is widely supported by the cryptocurrency wallets. You have plenty of options for the platforms and forms of storage:

  • Mobile: Tezos.blue, Wetez, Magnum (staking and delegating supported);
  • Desktop: TezBox, Kukai (Web), Exodus;
  • Cold storage: Ledger and Trezor.

Owners of Magnum, Trezor and Exodus wallets can exchange XTZ right in the app with the help of ChangeHero integration. We make sure that right in the app you get the same level of customer service as on our website.

How to exchange Tezos?

To make this Tezos guide more practical, let us tell you how to get XTZ with ChangeHero. You can do it easily in five steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your XTZ wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. For  Fixed Rate transactions you have 10 minutes before it expires;
  4. From here on, you won’t need to do anything. At this step we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your XTZ is on the way to your wallet.

Need the help of our support specialist? Reach them in the chat or through the email: [email protected].

Conclusion

All things considered, our team thinks Tezos is a solid contender among the blockchains of the second generation for the crown of a world’s decentralized computer. It is virtually only a killer dApp away from massive success, so we’ll have to watch the XTZ news to see if it really happens. Until then, stay tuned to the latest crypto news and informative content from ChangeHero by subscribing to our blog, Twitter, Facebook, Reddit or Telegram.


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Author: changehero
February 20, 2020

Tezos is one of the very few cryptocurrencies that made an earth-shattering entry into the crypto sphere with its hell of a hit ICO. It has always been doing rounds in the social media for its unique offerings. Over the past few days, Tezos has once again caused friction in the crypto community with its […]

Baking Bad with Tezos by ChangeHero

Tezos is one of the very few cryptocurrencies that made an earth-shattering entry into the crypto sphere with its hell of a hit ICO. It has always been doing rounds in the social media for its unique offerings. Over the past few days, Tezos has once again caused friction in the crypto community with its massive bull run and looks like it would join the Top-10 most valuable cryptocurrencies club in no time.

In this post, ChangeHero brings you everything you need to know about Tezos in one place.

Home Run on the First Pitch

Tezos is a decentralized blockchain platform with a major emphasis on smart contracts and dApps. The husband and wife duo Arthur Breitman, Kathleen Breitman joined hands almost before a decade with aims to develop a true digital commonwealth blockchain. In 2014, the official whitepaper of Tezos was launched stressing the flaws of Bitcoin and potential fixes. The research-driven blockchain network has gained traction among the investors and raised a whopping $232 Million in its first ICO in the year 2017.

Quirks

The team took an unconventional method of developing the network, the entire blockchain was coded from scratch and not based on Bitcoin or any other protocol. Though Tezos appears to echo Ethereum in terms of the core features like smart contracts and dApps, it has a few quirks under its belt that sets it apart. To name a few, Self-amendment, On-chain governance, Baking (yeah, it’s not a typo this time 😉) and Michelson are a few peculiarities that are driving Tezos ahead of others.

F-word? Not again!

We’ve seen many cases where some of the strongest communities in crypto parting ways due to the difference in the perspective of a network. Yeah, it’s the F-word in crypto, FORK. And we’ve seen quite a few controversial cases like Bitcoin Cash and Ethereum Classic. Tezos is tackling this issue by self-amending and on-chain governance. Upgrades to the network can be implemented without having to split the blockchain through the self-amending. On-chain governance functions as a means to drive the upgrades by voting on the proposed amendments. Developers can submit upgrade proposals and stake-holders vote on which proposal should be implemented or not. This mode of governance system vests the power of voting and decision making in the hands of users and ensures decentralization. The combination of self-amendment and on-chain governance keeps the network cohesive.

Mr.Michelson Verifies Your Contracts

Tezos uses a unique programming language called Michelson to write smart contracts on the platform. It was specifically designed to facilitate the formal verifications of smart contracts. It uses mathematical algorithms to check the correctness of the developers’ code and the logic behind every smart contract. Incorporating this technique into the protocol beefs up the security and minimizes the bugs.

Baking Bad

Breaking Bad meme
Source: ChangeHero

Tez is the native cryptocurrency of the Tezos blockchain and trades with the ticker XTZ. It can be used to conduct transactions and interact with the network. Tezos uses a Liquid Proof-of-Stake mechanism which is based on the PoS. The process of staking in Tezos network is called Baking and token-holders are supposedly called Bakers. One of the most intriguing aspects of Baking is the optional delegation. This allows every stake-holder to participate in the consensus without deligating their tokens to third parties or validators. Bakers get a chance to bake the block randomly and they get notarized by 32 other random bakers. Bakers will be compensated with transaction fees and rewards for contributing to the consensus.

Mastering Balance

Despite the internal disputes and lawsuits for the delays in the initial launch of the platform, Tezos has performed consistently well. With new integrations such as zk-SNARKS protocol to facilitate private transactions and Tendermint, the future looks promising to Tezos. As of writing, it is being traded at $2.18 with a total market cap of over $1.5 Billion. All in all, Tezos is one of a kind project that ensures decentralization without sacrificing on the scalability and features.

ChangeHero believes in the potential of Tezos and pledges its support. On ChangeHero, you can get $XTZ by swapping any crypto or you can simply buy with your credit or debit card.

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