Tezos is a notable open-source project in the blockchain space, which applies decentralization to its overall model, instead of merely touting decentralization, according to Alison Mangiero, president of The Tocqueville Group (TQ Tezos).
As a reminder, Tezos had gone through a very successful ICO event during the summer of 2017, raising as much as $232 million. Back then, Tezos was the ICO which raised the highest amount of funds.
Decentralization On The Whole
“Tezos, as a project, doesn’t just pay lip service to decentralization and isn’t just decentralized in terms of our validators, stakers or bakers,” Mangiero said on a recent interview with CryptoPotato. “The entities that work on Tezos are also decentralized.”
Diving into the concept a bit further, Mangiero explained the Zug-based (Switzerland) Tezos Foundation “houses
the funds from the original Tezos Foundation fundraiser.” Its mission, she noted, “Is to deploy those funds to support the Tezos ecosystem.” Everyday activities for the Foundation include providing grants to various players, as well as supporting entities working to help the Tezos project via multiple methods, Mangiero said. The New York-based TQ is one such entity.
Regarding TQ, Mangiero said they “focus on business development, technical services, communications and marketing, and advocacy work.”
The TQ president also mentioned the Paris-based Nomadic Labs. “They are one of the teams working on the core protocol,” she explained. Mangiero clarified that many teams work on the Tezos protocol globally, and “some of the original architects of Tezos are now housed in Nomadic Labs in Paris.” Additionally, she mentioned several other involved groups worldwide, including Tezos Japan, Tezos Korea, Tezos Southeast Asia, and others.
Recent Tezos News
Speaking on recent developments for Tezos, Mangiero spoke about the very first Tezos upgrade, Athens, which has been in the works over the past several months, beginning in January 2019. “One of the key differentiators of Tezos is that the protocol can upgrade itself,” she explained.
“It’s a self-amending ledger, meaning it incorporates a formal, on-chain mechanism for proposing, selecting, testing, and activating protocol upgrades, which come directly from the community, without the need to hard fork.”
Mangiero added, “The first amendments to the protocol were proposed in January .” The proposed changes apply to the area of baking (staking for Tezos), and the minimum number of tokens needed to own a roll (similar to a master node) in order to be able to bake.
Prior to the discussed upgrade, users desiring to bake would need a roll consisting of 10,000 XTZ coins, Mangiero explained. January’s proposal included lowering the required roll size, from 10,000 down to 8,000, as well as proposed alterations to gas limits, the TQ president noted.
The community showed voting support in favor of decreasing the roll requirement, Mangiero said. “We are nearing the end of the exploratory period now, and by the end of May, assuming the proposal reaches quorum, that change will be made automatically,” she explained. “This is an important moment because it will prove that the protocol is capable of upgrading itself,” she added. “We’ve known that it worked in theory, but this will be the first time the Tezos protocol will actually have done that.”
Mangiero also clarified, ” a roughly 80% supermajority is the threshold for a quorum.” This essentially means at least 80% of bakers voting must approve the upgrade for the changes to take place.”
Tezos Embarks Recovery Mode; XTZ hovers around $1
Tezos price opens once again with a bullish trend. The uptrend is still intact, which started a few days back. It is looking like the escalation is likely to stay for quite some time. The intraday trading in XTZ coin also looks result-giving. The market is giving a positive indication about the price rally. We are positive about the anticipations and would recommend the investors to dig-in. The coin is dealing with a market cap of $663,796,592 USD. The highest price counter touched on yesterday was 1.02 USD. However, the lowest price marked on the same date was 0.988586 USD.
Tezos Price Analysis & Predictions
Looking at the price movement of XTZ coin is trading below the baseline. Yesterday, the coin started the day at $0.9978. The price slipped down to $0.9861 within the first few hours. The regression marked was of 1.27%. Tezos immediately picked up the price and went back to $0.9996 by 1.37%.
Further, XTZ again jumped and this time the price touched $1.02171 from $1.000603 by 2.11%. The intraday upsurge marked in Tezos was 0.42% as the closing price was $1.0028. Today, the price opened with an uptrend. The price changed from $1.00287 to $1.00915 by 0.63%.
Tezos holds a high prospect of giving huge returns. Along with the Market Cap, the volume of XTZ has also improved. Tezos is expected to close the year around its 30-Day high value $1.24.
The investors interested in XTZ should pick short-term investment. It is speculated that the specified period would give maximum results to the traders
Tezos Foundation funds Japanese research lab to develop Plasma layer on Tezos
Tezos [XTZ], the seventeenth-largest coin by market cap, has witnessed rapid growth from the time of its launch. Recently, Tezos surpassed DASH and stood in the fifteenth position briefly, before falling again. The price of the coin, at press time, was falling by 3.48% over the last 24 hours. At the time of writing, the coin was valued at $1.19, with a market cap of $783 million. The 24-hour trading volume of the coin was $7.10 million and most of it came from BitMax exchange via the trading pair XTZ/BTC.
In a recent update, the Tezos Foundation shared the latest development in the ecosystem on Twitter. The tweet read,
The tweet stated that a Tokyo-based research lab, Cryptoeconomics, had secured a grant to develop a Plasma layer, “a layer-2 scaling technique which increases the transaction throughput on blockchains.”
The plasma layer is said to be implemented on Tezos following Plasma Group’s Generalized Plasma Specification. The implementation will be carried out by the Cryptoeconomics Lab team, which will be headed by Shogo Ochiai. Further, the team will reportedly carry out an audit of the implementation prior to its release.
The update was also confirmed by a blog post released by the Tezos Foundation. The blog post implied that an Android wallet application will be initiated by the Lab and that Tezos would be a part of its application development toolset, Plasma Chamber. The blog post further said,
“This implementation will be integrated into Cryptoeconomic Labs’ Plasma-Rust framework.”
Bitfinex announces Tezos pairs XTZ/USD, XTZ/BTC and Stellar pairs XLM/USD, XLM/BTC for margin trading
Despite never-ending controversies throughout the years, Bitfinex is making several developments in the ecosystem. Bitfinex reached out to the community on Twitter announcing the latest developments. The tweet read,
The advancements were further confirmed through a blog post released by the exchange. According to the blog post, Tezos pairs like XTZ/USD and XTZ/BTC along with Stellar pairs, XLM/USD and XLM/BTC will be available on the exchange’s margin trading feature. The exchange would allow the above-mentioned pairs to be traded with an initial equity of 50% along with a maximum leverage of 2x.
Furthermore, the blog post also mentioned that the exchange has expanded its collateral choices as more number of cryptocurrencies like XLM, XTZ, Cosmos[ATOM] and Ampleforth[AMPL] have been added and could be used as collateral for margin trading with a haircut of 50%.
Additionally, the exchange also shut down its partner exchange Ethfinex and launched an independent exchange, DeversiFi. The new exchange consists of employees from the Bitfinex as well as Ethfinex however it is said to function autonomously with separate management and resources.