Where Tezos is Accepted Locally and Globally
XTZ is the coin of the Tezos realm, a “Security focused. Upgradeable. Built to last.” and community-centric smart contract blockchain. Its innovative governance model has resulted in it achieving a respectable token price and top 50 CoinMarketCap ranking and it’s accepted by businesses around the world as payment — from an organic apothecary in California offering some exemplary hygiene products (that I’d be proud to scrub my body with!) to a very zen hotel retreat in Northern India.
Who accepts Tezos…
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Should you buy Tezos?
Tezos’ future is bright, it’s often called a stealth Ethereum-killer with its distinguished governance model. XTZ is a real people’s coin, with hardcoded and nonnegotiable decentralization. It has a praiseworthy direct democracy model with on-chain governance and self-amendment mechanisms.
- It’s a bonafide blue-chip crypto, doing over $20 million a day in trade volume.
- The management and advisor team is public, highly credentialed, and adoption-minded, they issue grants to developers and community members.
- Far from being an unproven blockchain platform, they have some substantial real-world use-cases; it’s being used to tokenize $25 million worth of a luxury residential property in the very posh River Plaza condo development in Manchester, United Kingdom. They’ve also collaborated with the gaming powerhouse Ubisoft.
Smart contract blockchains like Tezos hold the promise of making the world of commerce a lot smarter and fairer…
It raised $232 million in its record-setting 2017 ICO, unfortunately, some founders’ drama ensued delaying some roll-out of the project, but since then Tezos has started clear of any sordid affairs or scandal. it’s never undergone a contentious and costly hard fork, which is a good sign.
As a smart contract platform, it underperformed in the 2021 bull market that drove other smart contract platforms to new heights. Time will tell if Tezos is “the hare” in the race to revolutionize the world with blockchain smart contracts.
About Tezos
A final thing I really like about Tezos, as far as I can tell it’s not entangling itself with any ethical hazard blockchain projects — CBDCs, vaccine passports, population surveillance, carbon-credit speculation markets, etc — like some smart contract platforms are. They seem to have some loyalty to the crypto purists’ vision of a freer, decentralized world.
Tezos is a decentralized, open-source blockchain network that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts. The native cryptocurrency for the Tezos blockchain is the tez or tezzie, which has the symbol XTZ.
From Wikipedia
We present Tezos, a generic and self-amending crypto-ledger. Tezos can instantiate any blockchain based ledger. The operations of a regular blockchain are implemented as a purely functional module abstracted into a shell responsible for network operations. Bitcoin, Ethereum, Cryptonote, etc. can all be represented within Tezos by implementing the proper interface to the network layer.
Most importantly, Tezos supports meta upgrades: the protocols can evolve by amending their own code. To achieve this, Tezos begins with a seed protocol defining a procedure for stakeholders to approve amendments to the protocol, including amendments to the voting procedure itself. This is not unlike philosopher Peter Suber’s Nomic[3], a game built around a fully introspective set of rules.
In addition, Tezos’s seed protocol is based on a pure proof-of-stake system and supports Turing complete smart contracts. Tezos is implemented in OCaml, a powerful functional programming language offering speed, an unambiguous syntax and semantic, and an ecosystem making Tezos a good candidate for formal proofs of correctness.
From the abstract of the Tezos whitepaper
