Buy Tezos (XTZ)
What is Tezos (XTZ)?
Tezos is a blockchain network associated with the digital coin XTZ. The network propagates through Proof-of-Stake, a consensus mechanism where tokens are staked. The purpose of the coin is to develop and manage applications and assets. Namely, you can use Tezos to develop dApps and smart contracts, as well as make transactions. The coin was born out of the problems of other cryptocurrencies such as Bitcoin and Ethereum. What does Tezos have that Bitcoin and Ethereum do not?
Democratic decision-making
Tezos has developed a system where anyone with a Tezos token has the right to vote on decisions. There are times when changes are needed in the blockchain to improve the coin. Bitcoin has the problem of not being able to do this, which is why a lot of hard forks have taken place. A hard fork is a split off from the original cryptocurrency, changing, for example, the development and properties of the network. It causes a split of users, thus leaving fewer users on the original Bitcoin network. Because the Tezos network is determined democratically, more people continue to use the coin. The process takes about 23 days and consists of four steps before the proposed changes are implemented.
Proof-of-Stake protocol
Tezos uses the Proof-of-Stake consensus. It is an environmentally friendly blockchain in that it is not possible to mine Tezos coins. Unlike Bitcoin and Ethereum, little energy is needed to continue the blockchain. Transactions on the blockchain are assessed by baking. You can function as a baker when you own more than 8,000 XTZ, with this you can receive new Tezos. Yet you can also participate in the baking process when you don't have 8,000 XTZ. You then lend your Tezos to a larger baker, thus benefiting a kind from his large share.
How can I store Tezos?
To buy Tezos, you need a place to store them. You can do this in your own personal wallet or use the Anycoin Vault. By using the Anycoin Vault, you pay less transaction fees, your cryptocurrencies are stored securely and it offers you the ability to trade between cryptocurrencies easily and quickly. Currently, it is only possible to store Tezos in the Anycoin Vault.
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Why buy Tezos with Anycoin?
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The Vault is a safe alternative to the traditional crypto wallet for those who want to buy, sell and swap their coins on Anycoin Direct. Within the Vault you can store all your digital assets and swap them against one another. Still want to send crypto to an external wallet like your Ledger? No problem, the Vault is an additional feature. The choice is yours.
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Balances in the Anycoin Vault, are kept in a foundation. This foundation has only one purpose, to preserve our customer funds. This construction ensures that customers are entitled to compensation in the unlikely event of Anycoin Direct's bankruptcy. In addition, we want to reiterate that we always want to give customers a choice between using the Anycoin Vault and sending coins to an external wallet.
Extra information about Tezos (XTZ)
What can Tezos be used for?
Tezos is a cryptocurrency that allows you to create and use smart contracts. In addition, XTZ tokens can also be used to make transactions, invest in or "beacon". Owning XTZ allows you to vote on changes to the blockchain. One drawback though: those with more Tezos, have more voting rights. Companies use Tezos to build their platform. In doing so, they use smart contracts, for example, and it is all stored securely on the blockchain. In addition, Tezos can also be used to buy NFTs (Non-Fungible Tokens) with. As the name suggests, these are items/tokens that are non-replaceable and only owned by one person. Forms of NFTs include digital images, videos, tickets, but games can also be played with these. Tezos' smartcontracts allow NFTs to be traded.
Who are the founders of Tezos?
Tezos was conceived and created in 2014 by a married couple called Arthur and Kathleen Breitman. Five years after Bitcoin launched, Arthur and Kathleen released their first version of Tezos in 2014. In those five years, cryptocurrencies were already showing their potential, but the couple still saw areas for improvement. Therefore, Tezos' goal is precisely to solve the downsides of other cryptocurrencies. Tezos raised as much as $232 million dollars in 2017 during their initial coin offering (ICO), the largest ICO proceeds at the time. Arthur and Kathleen Breitman disagreed with the Tezos Foundation set up in 2017. Due to the differences of opinion, it took a long time before Tezos could actually start. Currently, Arthur Breitman is a member of the foundation board of Tezos.
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