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Tezos (XTZ) Price Prediction

The Smart Contract Blockchain Network That Aims to Avoid Hard Forks

XTZ, also known as Tezos, is a blockchain platform that is designed to be highly adaptable and able to evolve over time without causing a hard fork. It operates on a proof-of-stake consensus mechanism, where network validators, also known as “bakers,” can participate in the governance of the platform by staking XTZ tokens. Bakers vote on proposed changes to the protocol and are incentivized to act honestly to maintain the integrity of the blockchain. XTZ’s unique approach to governance has earned it recognition from high-profile businesses, including French banking giant Societe Generale, which plans to use the platform to experiment with a central bank digital currency.

Tezos Founders and their Vision for a Governance Process that Invites Community Contributions

The Tezos platform is built on smart contracts, similar to Ethereum, but with a focus on providing a high level of security and accuracy for high-value use cases. Its smart contract language is designed to be futureproof and remain state-of-the-art in the long term. XTZ holders can vote on proposals for protocol upgrades, giving the community a say in the development of the platform. The ability to upgrade the protocol without causing a hard fork is a significant advantage over other blockchain platforms, which can result in a loss of trust and value in the network.

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