According to Investopedia, there were over 4,000 cryptocurrencies in the beginning of 2021. Some of them already claimed their place in the market, some of them are still in the process. LATOKEN exchange regularly posts LATOKEN reviews to tackle different tokens to provide better understanding to users and crypto traders. In this post, we will focus on up-and-coming cryptocurrency, Tezos (XTZ).
The token currently has 837,152,879 supplies in circulation. Current market capitalization rate of Tezos is $2,433,613,104. XTZ is the native token of the namesake platform.
According to the official website, “Tezos is an open-source blockchain protocol for assets and applications backed by a global community of validators, researchers, and builders.”
The network uses Proof-of-Stake mechanism, making the energy consumption a lot lower than PoW mechanism. In addition, Tezos has a modular architecture and formal upgrade mechanism. This feature allows smooth implementation of any new upgrades to the network.
What Makes the XTZ special?
On LATOKEN Review, we pick tokens that have an edge and differentiating factor. This factor for Tezos is the aim to add features that were not available in earlier blockchains. The network combined its transaction and consensus protocols in order to streamline the processes. Also, communication between network protocol and the blockchain protocol is made easy as a result.
Where is Tezos Headed?
In June, 2021, McLaren Racing announced a multi-year technical partnership with Tezos (XTZ). The partnership goals is to build NFT fan experience platform on an “energy-efficient blockchain network.” Tezos’ energy efficiency is likely to keep and increase the demand for it in the crypto world.
Where to buy or stake XTZ?
LATOKEN exchange offers trading for Tezos tokens. In addition, LATOKEN platform launched staking for XTZ in June 2021. XTZ current annual return on LATOKEN staking platform is around 5.4%. You can also automatically reinvest your asset in the same stake through the “Auto-prolongation” feature. Staking allows you to make passive income from top tokens, and you can get started in 1 minute or less on the LATOKEN Exchange in order to trade or stake XTZ.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.