The price of XTZ was sent higher today after Binance launched the fee-free staking of Tezos today (Tuesday, December 3rd).

If you have not heard of Tezos it is a general-purpose open-source blockchain project that can "evolve by upgrading itself.".

So this means the coin can update itself without a hard fork

his is important as the suggestion or expectation of a fork can divide the community, alter stakeholder incentives, and disrupt the network effects that are formed over time. Because of self-amendment, coordination and execution costs for protocol upgrades are reduced and future innovations can be seamlessly implemented.

In regards to governance:

The election cycle provides a formal and systematic procedure for stakeholders to reach agreement on proposed protocol amendments. By combining this on-chain mechanism with self-amendment, Tezos can change this initial election process to adopt better governance mechanisms when they are discovered.

This funding mechanism encourages robust participation and decentralizes the maintenance of the network. Fostering an active, open, and diverse developer ecosystem that is incentivized to contribute to the protocol will facilitate Tezos development and adoption.

When talking about the support from Binance:

XTZ rewards will be calculated daily based on live snapshots and distributed monthly, with the first distribution to be completed before 2019/01/20. Distributions will be completed before the 20th day of each following month.

cryptoglobe.com have made a concise explainer of some of the concepts for Tezos.

Smart Contracts and Formal Verification. Tezos allows the creation of smart contracts and decentralized applications (DApps). It has a native smart contract language called Michelson that makes formal verification easier. A Delegated Proof-of-Stake (DPoS) consensus mechanism. XTZ token holders take part in the consensus process by staking (i.e. locking up) -- which in Tezos land is called "staking" -- their tokens for the right to validate blocks. XTZ holders may delegate their tokens to bakers whilst retaining ownership of the tokens. Bakers receive block rewards, the substantial portion of which are distributed to those XTZ token holders that delegated their tokens to them. This means that even if you do not hold enough XTZ to become a full baker you can still take part in the block validation/reward process.

The price of XTZ/USD has rocketed in recent sessions. Moving from 0.7539 to 1.2967 in just over a month. The next wave high is 1.43 so if the bulls are to keep control of the market that is the next level to keep an eye on.

XTZ analysis

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crypto Today: Calm between the storm? Schiff says look out below, Dash, Monero stand out

Bitcoin in mid-range, BTC/USD is trading just below $7,400 after experiencing rises and falls of hundreds of dollars within days. Peter Schiff, a life-long crypto skeptic, said that pumpers and dumper have lost the plot, and added: "Look out below".

More Cryptocurrencies News

Ethereum Price Analysis: ETH/USD bumps into $148.00, waits for new drivers

ETH/USD has recovered to $148.00 on Thursday; however, the upside momentum has faded away during early Asian hours. The second largest coin with the current market capitalization of $16.2 billion has settled in a tight range limited by $148.00 on the upside.

More Ethereum News

Monero Price Analysis: XMR/USD rises from the ashes

Monero is arguably the biggest single-digit gainer on the first Friday of December. The crypto has increased in value by 2% on the day after opening the trading session at $55.01. 

More Monero News

Bitcoin Cash price analysis: BCH/USD market momentum turns from bearish to bullish

BCH/USD is on course of charting its second straight bullish day. Currently, the price has gone up slightly to $211.75 and is floating below the 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves. 

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP