For CEX.IO, the beginning of 2020 has been rich in new features and listings. We’ve launched trading of NEO, GAS, ATOM, and BAT this month, and now we’re also listing XTZ, the digital token of the Tezos platform.
On February 5, we will enable Tezos deposits and kick off XTZ/USD trading. Then, on February 7, we’ll switch on withdrawals and add support for the XTZ/EUR market. Finally, on February 10, XTZ/GBP trading will go live. Tezos will be available for purchase with Visa/Mastercard just like other cryptocurrencies. Soon, we will enable XTZ staking (“baking”) and automatically distribute rewards for every XTZ held on CEX.IO.
Get ready for this new market on CEX.IO and mark your calendars!
About Tezos and the XTZ token
Tezos is a unique decentralized blockchain created from scratch. It’s not based on the code of any other blockchain, so it’s not a fork or an additional level for any existing decentralized ledger.
According to the project creators, the goal of Tezos is to create a blockchain that can become a platform for innovation without the risk of hard forks that would split its community. Just like Ethereum, Tezos is a blockchain platform for dApps and smart contracts.
What distinguishes Tezos from other blockchains is its democratic self-governance system. Tezos encourages user participation in the development process and lets users directly vote on and approve protocol upgrades.
Arthur and Kathleen Breitman started work on the Tezos project in 2014. Later, in 2017, Tezos completed one of the largest ICOs of all time, raising $232 million. However, this success was followed by a huge dispute among the top management, which eventually delayed the launch of the platform until June 2018.
So far, the Tezos network requires less computational power and less participation of miners (“bakers” in the Tezos system). At the same time, the network claims to support a high level of security based on PoS consensus with delegation, where can be an unlimited number of validators.
XTZ is the native token of the Tezos network and is created through baking. At the moment of writing, XTZ has an over $1 billion market cap, ranking 11th on CoinMarketCap. The daily trade volume is nearly $111 million.
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Disclaimer: The above content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Please study the asset on your own before making any investment or trading decisions.