Tezos: Blockchain & Altcoin review
Once we are getting closer every day to the bitcoin halving (reduction of the block reward, to its half every almost 10 minutes, that is, new bitcoins on the market) we have to focus on other investment possibilities, since a diversified portfolio is the best for good risk control. Of course, each person will invest in what they consider. Today, we are simply talking about another possible option, to take into account, for said diversification.
XTZ (Tezos)
Tezos is described as a "blockchain platform" or "blockchain protocol." The distinguishing feature of Tezos is its ability to evolve and update itself through an autonomous governance process, which allows network participants to propose and vote on changes to the protocol.
The native cryptocurrency of the Tezos network is called XTZ. Tezos uses a Proof-of-Stake consensus mechanism to validate transactions and produce new blocks on the blockchain. Additionally, Tezos stands out for its focus on security and formal verification, which is a mathematical process to verify the security and correctness of code.
In short, Tezos is a blockchain platform that enables the creation of smart contracts and decentralized applications, with a focus on autonomous governance and the ability to evolve over time.
Tezos brings several novel features as a blockchain platform, and some of its most notable contributions include:
Autonomous Governance: Tezos stands out for its unique ability to evolve and update autonomously through a decentralized governance process. XTZ token holders can propose and vote on changes to the protocol, allowing for smoother updates and avoiding community splits (hard forks) that sometimes occur on other blockchains.
Smart Contracts: Similar to other blockchains such as Ethereum, Tezos allows the creation and execution of smart contracts. These contracts are self-executing computer programs that facilitate, verify or enforce the negotiation or execution of agreements.
Formal Verification: Tezos incorporates formal verification, a rigorous mathematical process to verify the correctness and security of the code. This approach helps reduce the likelihood of critical errors in smart contracts, improving security and trust in the platform.
Proof-of-Stake: Tezos uses a proof-of-stake consensus mechanism, meaning that participants holding XTZ can participate in validating transactions and creating new blocks on the chain. This reduces the need for large amounts of computing power and energy, compared to some more traditional consensus algorithms such as Proof-of-Work.
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Smart Contract Flexibility: Tezos offers flexibility in smart contract programming by supporting multiple programming languages, allowing developers to choose the language that best suits their needs and knowledge.
TA (Technical analysis) for XTZ
What is a Fibonacci fan… inverse?
The explanation for this is referenced to the XTZ chart in the long term.
FIBONACCI FAN
A Fibonacci fan is a chart construction technique used in technical study that uses the Fibonacci interaction to graphically predict support and resistance levels.
The Fibonacci quantity can be used to explain proportions in things, from nature's smallest building blocks, such as atoms, to the world's most advanced patterns, such as unimaginably monumental celestial bodies. Nature is based on this natural proportion to maintain equality, but financial markets also seem to adapt to this "golden ratio."
Inverse fans are generated from resistance points and the falling price relies on them until it stops falling and will generate future resistance zones in extensions of the inverse fan.
This content is for informational and educational purposes. There is no consumer protection. Your capital is subject to risks. It is not a recommendation to buy or sell crypto assets. Please do your own research or contact your trusted financial advisor.