Tezos (XTZ) is now on KickEX

A promising cryptocurrency with a challenging history

Trade on KickEX

Hi, KICK community! So, are you ready for a new listing on KickEX? We are glad to present you a new coin on our exchange — Tezos (XTZ). Trading pair: XTZ/USDT.

What is Tezos?

Satoshi Nakamoto’s example inspired many people. Including the creators of the Tezos token. The married couple Arthur and Kathleen Breitman decided to start an unusual family business — to create a blockchain platform for launching smart-contracts. Their goals were ambitious, because the couple decided to create not a fork of already existing popular blockchain platforms, but their own platform from scratch.

The Tezos coin is an inner currency of Tezos blockchain platform. This coin is special, because it’s impossible for mining. Community members receive XTZ as a reward after participating in the Proof-of-Stake consensus mechanism. Tezos users aren’t called miners, but bakers. Bakers participate in the transaction-processing and generating new blocks.

Per aspera ad astra

The history of creating Tezos is full of scandals and intrigues.

The ICO of the project ended on July 14, 2017 and was extremely successful. 232 million dollars were raised and this exceeded the expectations of the organizers by 10 times. There was no sign of trouble.

Unfortunately, soon the situation got out of control of the founders of the project. Tezos has created its own fund to manage its assets in Switzerland. It turned out that according to Swiss law, the board of directors of the fund has full control over its assets.

The head of the fund Johann Gevers deprived the Breitmans of the money they had collected. The founders had to sue Gevers. In total, they participated in at least 4 group cases, during which the spouses managed to return the source code of the token, but, unfortunately, not the money. Tezos investors also could not access either their funds or tokens. The founders of XTZ fought for several months to exclude Gevers from the board of directors, and finally, in February 2018, the entire board of directors, including Johann, left their positions

As a result, Breitman was finally able to regain control of Tezos assets.

Now a bit of statistics:

  • Tezos is ranked 35th in the CoinMarketCap rating;
  • The daily market value of the token XTZ is $299,152,418 USD;
  • During the Tezos ICO in 2017, the founders raised $230 million in two weeks. 32 thousand users bought 607.8 million XTZ tokens.

The famous crypto-analyst AltcoinSherpa considers that Tezos is extremely promising currency. And we, in our turn, remind you how important it is to study the market and monitor the sphere of cryptocurrencies, because this is the future! Well, of course, we recommend trading on your favorite KickEX exchange.

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