Tezos: cryptocurrency description, existing problems

Tezos is a platform for smart contracts and decentralized applications, including the process of updating the algorithm using network management.

The project tokens appeared on the exchanges in early July 2018 under the XTZ ticker after a series of scandals related to the fraudsters  allegations of the creators of the project.

Mining: impossible.

Top-up: through the cryptocurrency exchanges Gate.io and HitBTC, Coinone.

Storage: TezBox wallet or cloud storage.

Advantages of the system:

  • Fast and inexpensive transactions (there are types of operations and no commission at all)
  • A wide range of people supporting the digital asset (Tezos Foundation, baking pools, well-known forums)
  • Modern DPoS algorithm
  • Developers can independently submit proposals for updating the protocol - organized equality in project management
  • System components can be updated as quickly and efficiently as possible.
  • No need for hard forks
  • High level of protection against hacker attacks and fraudulent activities.
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