Blockchain

$1 Billion Tezos (XTZ) Blockchain Ready For Mainnet Market Launch

The $1 billion Tezos blockchain is now ready for its mainnet market launch post completion of its experimental phase. The Tezos Foundation is expected to make the official launch of its new protocol in a few days.

The moment the Tezos blockchain is launched officially, it will come out of the beta-testing mode and will become fully operational, ready to be run by the community.  At present, Tezos is valued at more than $1billion. The foundation first launched a live blockchain version of the Tezos blockchain software in late June this year and immediately made its XTZ tokens available for trade.

Right from the start the platform intended to continue with the trading due to rise in staked tokens as well as the number of network participants. However, there was a strong possibility of pausing it for maintenance at any time. Tezos Foundation’s Ryan Jesperson who looks after the maintenance of the code and makes payment to the developers revealed his views on making the blockchain platform fully operational.

Jesperson stated that the company is happy with the smooth operation of the blockchain network in the market ever since its launch. He further added that Tezos community is highly active and at present 400 validators are poised to become a part of the upcoming cycle. Importantly, the community members are enthusiastically developing a plethora of exciting technologies, says CoinDesk.

Although everything worked out smoothly for the Tezos platform, it did face an outage in the mid of July when the blocks stopped validating properly for a short time of one hour. However, the company immediately addressed the problem and ever since has not faced any issues.

Incidentally, the announcement of Tezos official launch in blockchain market has spiked the value of the coin by more than 20 percent in just 24 hours, says BCFocus. However, the company is expecting the token to go beyond 26 percent gain in just one day like last week. Importantly, Tezos token has beat NEM (NEM) and is now at the 17th spot with a market cap beyond $ 1 billion.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Sangati has graduated in biological sciences and also has completed P.G. Diploma in Mass Communication. She has an experience of 14 years writing for leading ad agencies, corporate and media houses, online news channels and websites. She is passionate about writing, reading, music and traveling. Sangati writes blockchain and cryptocurrency news for OWLT Market.

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