The live price of Tezos is - per (XTZ / USD) with a current market cap of $649.61M USD. 24-hour trading volume is - USD. XTZ to USD price is updated in real-time. Tezos is -% in the last 24 hours with a circulating supply of 1.04B.
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Tezos is an open-source Proof-of-Stake (PoS) blockchain network that supports peer-to-peer transactions between network participants and smart contracts. It is a pioneer of the decentralized governance model, which has become the preferred model in the blockchain industry. Tezos launched its mainnet in September 2018, following a record-breaking ICO that raised $228 million.
Tezos (XTZ) is a self-upgradable open-source blockchain ecosystem designed to support Web3 services, protocols, and platforms such as decentralized finance (DeFi) applications, NFT marketplaces and projects, peer-to-peer (P2P) payments, and smart contracts.
Tezos is well known for being fully open-source and for using a decentralized governance model to propose changes to the Tezos blockchain. Any XTZ holder can participate in the governance voting process, and approved proposals are automatically updated across all network nodes.
As a highly adaptable blockchain, Tezos quickly adopts and integrates new technologies. Its ecosystem consists of various elements, including NFT marketplaces, smart contract verification platforms, multi-currency wallets, carbon offset NFTs, blockchain-based play-to-earn (P2E) games, and DeFi platforms.
As of now, the total supply of XTZ is approximately 930.5 million tokens, with around 910 million in circulation. It is an inflationary token with no fixed supply cap.
Roughly 80 new XTZ tokens are issued per minute, resulting in an annual inflation rate of about 5.4%. Since new tokens are continuously added, the value of XTZ may decrease over time. To counter this, the team designed mechanisms to permanently burn XTZ from the circulating supply. Notably, bakers found to be acting maliciously may have part or all of their stake slashed and destroyed. Additionally, XTZ is burned when KT1 accounts or smart contracts for delegated XTZ are created.
Despite the large circulating supply, only a small amount of XTZ is available to the public. As of April 2021, nearly 80% of circulating XTZ was locked for staking rewards. Many believe that reduced supply could positively influence Tezos’ price.
Upon mainnet launch, a total of 763,306,929.68 XTZ tokens were issued and distributed as follows:
- 79.59% allocated to ICO participants.
- 0.41% allocated to early backers, advisors, contractors, and supporters.
- 10% reserved for Dynamic Ledger Solutions.
- 10% allocated to the Tezos Foundation.
Tenderbake Upgrade
In April 2022, the Tezos blockchain underwent a major upgrade. The Ithaca 2.0 version replaced the previous “Emmy” mining algorithm with a new “Tenderbake” algorithm inspired by Tendermint, aiming to reduce block time, increase transaction speed, and enable smoother app performance. It also introduced features for greater network scalability, such as Ethereum Virtual Machine (EVM) compatibility and WebAssembly support. Additionally, the number of XTZ required to become a baker was reduced from 8,000 to 6,000.
Rarible Integration
Rarible, one of the world’s largest NFT marketplaces, integrated with the Tezos blockchain in December 2021, making Tezos its third supported blockchain. As a result, Tezos-native NFTs are now tradable on Rarible. To commemorate the event, Rarible and Tezos launched a special NFT collection called “Blazing Futures.”
Manchester United Sponsorship
On February 10, 2022, Manchester United, one of the world’s largest football clubs, announced a multi-year sponsorship deal with Tezos, featuring Tezos branding on its training kits. The deal is reportedly worth $27 million per year. Tezos had previously signed similar agreements with Formula One team McLaren and Major League Baseball’s New York Mets.
Tezos was created by Arthur and Kathleen Breitman, a married couple with backgrounds in finance. Arthur has expertise in mathematics and computer science and worked in quantitative finance at Morgan Stanley, while Kathleen was a hedge fund advisor. The concept of Tezos was introduced in 2014, and the project began development under Dynamic Ledger Solutions, founded in 2015 to build the platform.
The Tezos Foundation was established in 2016 with the help of Johann Gevers to promote and support the development of the Tezos blockchain. In June 2017, with the support of the foundation, Tezos launched one of the most successful ICOs ever, raising around $232 million in Bitcoin and Ethereum. However, internal disputes between the Breitmans and then-president Johann Gevers delayed the distribution of tokens to investors.
In September 2018, after the resignation of Gevers and another board member of the Tezos Foundation, the Tezos mainnet officially went live.
Since its launch in 2018, Tezos has pursued partnerships with widely recognized brands and companies in the digital asset space. One of its most notable collaborations is with the McLaren F1 Team. In June 2021, McLaren announced Tezos as its official blockchain partner, planning to deliver fan experiences using Tezos-powered NFTs.
Beyond McLaren, Tezos has formed partnerships with other major brands, including Red Bull, Manchester United, Ubisoft, and Team Vitality.
Tezos is an energy-efficient Proof-of-Stake (PoS) blockchain known as a pioneer of decentralized governance models, which are now being adopted across applications and networks supported by decentralized blockchains. Tezos was founded in 2018 by Arthur and Kathleen Breitman, a married couple.
Arthur and Kathleen Breitman co-founded Tezos in 2014 and launched its Initial Coin Offering (ICO) in 2017, raising $232 million within two weeks.
Tezos operates as a PoS blockchain network. Participants must stake at least 8,000 XTZ to take part in the validation process, becoming what is known as a “baker.” Bakers also vote on proposed changes to the Tezos network through a four-stage process: Proposal, Exploration, Testing, and Promotion Vote.
Tezos operates a flexible baking system that allows users to withdraw their XTZ tokens without waiting for a lock-up period to end. This is one of the advantages of Tezos over other blockchains using delegated proof-of-stake consensus mechanisms.
The current maximum supply of Tezos (XTZ) tokens is 763,306,930.
Within the Tezos ecosystem, XTZ can be used for value storage, peer-to-peer (P2P) payments, and for participating in transaction validation or governance through “baking.” Baking refers to staking XTZ to engage in Tezos’ proof-of-stake consensus mechanism.
Tezos’ consensus protocol also functions as a governance component. When you “bake,” you are eligible to vote on proposals. For those who have delegated their tokens, bakers can vote on their behalf. Therefore, it’s important to choose a delegate who aligns with your principles.
Tezos is a highly adaptable PoS blockchain network that operates under open-source design principles and decentralized governance, enabling rapid updates and integration of new technologies.
The Tezos to other currencies exchange rate?
