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What is Tezos (XTZ)? What are the advantages of Tezos?

by Financial Economy

Tezos was started to be developed in 2014 by a group of software developers led by Arthur Breitman and Kathleen Breitman. With a campaign they did in 2017, they raised a total of $ 232 million in Bitcoin and Ethereum. The fund is managed by the Swiss-based Tezos Foundation. The Tezos Foundation aims to withdraw itself at the decision point with the increasing power of Tezos Token users in management in the future. The answers ” What is Tezos (XTZ)? What are the advantages of Tezos?” questions are in rest of the article.

Combined with their common interests and interests, this digital community aims to further develop the platform by making joint decisions with Tezos (XTZ) tokens. Information about Ethereum, you can browse here.

What is Tezos (XTZ)?

Tezos is a smart contract platform like Ethereum. It allows changes to the platform separately from the Ethereum smart contract system. Thus, it ensures that the necessary regulation for the needs that may arise over time can be made within itself, not by hard bifurcation, but by the decisions of the digital society.

The necessary improvements in the Tezos platform are made by the developers. Whenever there is a need for an improvement in the platform, software developers forward this request to the Tezos digital community. The Tezos community, which wants to support this demand, pays the developer with Tezos (XTZ) token. Thus, the development to be made is presented to the approval of the society and the development with the highest support is made. Thanks to the Tezos award given to software developers, it also ensures that a fee is paid for the development work and that the developers are encouraged.

What are the advantages of Tezos?

Tezos (XTZ) is a smart contract platform. The most important point that distinguishes this platform from other blockchain systems is that the project developments are made with the approval of the created digital community and it allows development to be made when deemed necessary. In blockchain systems such as Bitcoin or Ethereum, system development cannot be done, and this causes hard forks in these networks.

In the Tezos (XTZ) platform, the necessary improvements are determined by the software developers and submitted to the voting of the Tezos digital community. The Tezos community makes donations with the Tezos (XTZ) token to the development it deems necessary, and the project of the software developer that collects the highest donation is made. Thus, software developments are carried out in the direction desired by the society and software developers receive an award for this work.

How to mine Tezos (XTZ)?

Since the first day of its development, the Tezos (XTZ) platform has enabled mining with the authorized PoS system instead of PoW (mining with the energy consumption of devices), unlike the Ethereum and Bitcoin system. PoW used in systems such as Bitcoin and Ethereum causes a serious electricity consumption. In Tezos (XTZ) authorized PoS mining, it is sufficient to have sufficient Tezos (XTZ) in your wallet. There is no need for any device or electricity consumption for Tezos (XTZ) mining.

For details: https://en.wikipedia.org/wiki/Tezos

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