Tezos is one of Ethereum’s biggest competitor networks, and has a rather unique staking system. The network was created with a focus on self-governance and for the first time, that self-governance is being asked to vote on two self-amendment proposals. The outcome of the amendments will have huge implications for the network, but the community is loving the developments.
Say Hello to Athens
The two new amendment proposals with have large ramifications for the network. While both are rather similar, only one can be implemented. Athens A proposes that the amount of XTZ needed to validate a block would decrease from 10,000 to 8,000 as well as increasing the gas limit of the protocol. On the other hand, Athens B proposes to increase the gas limit of the protocol while leaving the block validation cost at 10,000 XTZ. There are four rounds of voting and if the community decides to implement Athens A or B then it will likely go live in around three months.
Big Money Coming to Tezos
In another major development for the network, Stephane de Baets – a serial entrepreneur – announced that he will be tokenizing $1 billion worth of property and offering it as a security token offering (STO) on the Tezos Network. De Baets had previously been using the Ethereum network for his property dealings, but has instead decided to use Tezos for his latest project thanks to its enhanced technological capabilities.
Is Coinbase Getting into Bed with Tezos?
The news of a Coinbase interest in your project often send token value rocketing, and not long ago Coinbase dropped a hint that it might list Tezos – along with 30 other cryptos. However, in a strange turn of events, Coinbase instead hired Tezos’ staking model architect – Luke Youngblood. Hopefully the new hire will go down significantly better than when Coinbase bought Neutrino. It’s unlikely that Coinbase will add Tezos based purely on Youngblood’s appointment, so don’t get too excited if you’re a XTAZ hodler.
Ethereum is set to launch its long-awaited Constantinople upgrade shortly, and it will allegedly help the network rival Tezos. Ethereum began the leader in the smart contracting platform battle for superiority, but advanced technology, new thinking and creative communities has helped Tezos rise to the top of the smart contracting world. If Athens A is the winner in the voting, we could see Tezos gain even more popularity and draw big name dApp developers to the network.
