Tezos (XTZ) Tezos, a liquid proof-of-stake (LPoS) platform for smart contracts, has experienced a host of fresh changes sparking its community's enthusiasm about future prospects.
Ranked among the top 20 cryptocurrencies, Tezos is built with a focus on on-chain governance. Recently, it introduced its first self-amendment proposals, marking a pivotal moment. Athens These proposals were introduced by Nomadic Labs, a key player in Tezos's research and development team.
Athens Upgrade
The initial amendments seem conservative and are maintenance-oriented. Proposal Athens A aims to reduce the necessary XTZ for block validation from 10,000 to 8,000 while also increasing the protocol's gas limit. Meanwhile, Athens B simply focuses on raising the gas limit without changing the XTZ amount.
Whichever direction the community takes, the proposals underscore the growing stakes and potential of on-chain governance within the cryptocurrency space.
Today is a landmark day for Tezos as we've initiated our first self-amendment on-chain voting process. #Tezos @CHalexov2016 @coindesk @Cointelegraph https://t.co/BAFIh7Onkn
— Jovan Smith, a Tezos enthusiast (jovitezos.tez on Twitter) February 28, 2019
Nomadic Labs mentioned that this process might lead to a successful transition from the current protocol alpha to the Athens protocol in around three months, contingent on community approval.
In Tezos, XTZ are delegated to 'bakers', who essentially are the network's stakers, to earn block rewards. With the amendment voting now open, these bakers have four rounds of voting before the Athens proposals are finalized.
In encouragement, Tezos-based startup At James sent an appeal to the project community on Tuesday, March 5th, urging stakeholders to take an active role in this essential governance decision. rallying cry \"Our governance's value increases with our involvement, especially when accessible tools make engagement simpler,\" said Company founder James Baker, observing that only 11 percent of bakers had participated in voting by Tuesday morning.
Another exciting update causing a stir in the Tezos community is the significant hire by the American cryptocurrency powerhouse.
This move involves bringing on board Luke Youngblood, the mastermind behind Tezos’s staking framework.
Coinbase has hired a significant contributor from Tezos — could this mean Staking-as-a-Service is on the horizon?
Youngblood, who had a stint at Amazon Web Services (AWS), agreed to join Coinbase, having previously developed Tezos’s staking structure for the Tezos Foundation. Coinbase’s In December, Coinbase indicated plans to integrate XTZ and 30 other assets into their offerings, and there's now word circulating to clients, suggesting Youngblood's influence would be critical in adding governance and staking features to Coinbase Custody.
This hiring signals Coinbase's strategy to enhance user participation in blockchain activities, positioning Tezos for a more prominent role. The processes of staking and delegating, core to the evolving cryptosystem, are complex, but Coinbase wants to simplify these for its users.
Given its leading status in the U.S., Coinbase's recruitment decisions are closely watched for their potential impacts. other cryptocurrencies This month, Coinbase faced backlash over employing Neutrino, a company with staff linked to the controversial Hacking Team, which had dubious human rights records.
In contrast, Youngblood's appointment is straightforward and technical, suggesting Coinbase's increased focus on staking.
Coinbase's seemingly heightened interest in Tezos aligns with the protocol's strong momentum in early 2019.
Earlier in the month, Elevated Returns, led by entrepreneur Stephane de Baets, unveiled a real estate portfolio worth approximately $1 billion USD, poised to be tokenized.
After initially planning to tokenize a Colorado resort in 2018, de Baets has pivoted his attention toward Ethereum’s top contenders in smart contracts.
$1 Billion in STOs Coming to Tezos
\"For a tech-driven token implementation, Tezos is unmatched,\" de Baets insisted. \"We have big deals in queue, and compromising on technology isn't an option.\"
A seasoned writer, William M. Peaster focuses on Ethereum, Dai, and Bitcoin. His bylines include Blockonomi, Binance Academy, and Bitsonline. He tracks smart contract trends and advances in decentralized applications (DAOs) and dApps. He's also diving into learning Solidity! He's reacheable on Telegram via @wmpeaster. Security Token Offerings (STOs) via Tezos.
Read: What is an STO?
De Baets had previously used Ethereum Dojima Network: Building the Base for a Truly Interconnected Web3
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