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Tezos is an open-source platform of assets and applications that can evolve by upgrading itself. It is a self-amending crypto ledger that can expanded without getting hard forked.
Tezos Modular Architecture
Network protocol- Also known as "Gossip Protocol".It helps to broadcast transactions and download the blockchain.
The transaction and Consensus both form the blockchain protocol of the network.
The network shell provides an interface between the network layer and the blockchain layer.
Tezos has parallel blockchain They are
Mainnet- Mainnet is the main Tezos network, but is not appropriate for testing.
Alphanet- It is the test network for Tezos users and developers on the chain Total blocks are 2048 in each cycle and the target time is 30 seconds.
Zeronet- It is much faster than Alphanet. It has 128 blocks in each cycle. Each block has a target time of 30 seconds.
Consensus Mechanism-
Tezos uses Liquid Proof-of-Stake (LPOS), an evolution of DPoS. In LPoS, a validator is called a baker. A validator needs at least 6000 tezos to take part in consensus.
Tezos Node-
- It is the main program. It has three main roles
- It validates blocks and operations
- It broadcasts blocks and operations to other nodes and receives them from other nodes over a peer-to-peer network.
- It maintains a copy of the blockchain data and its associated state.
Unique features of Tezos-
Block transaction time- 30 min finality
Transaction per second 50 (up to 1 mln after upgradation)
Low fees - $0.00232
XTZUSD prices jumped nearly 80% from the Oct low of $0.617.It hit a high of $1.094 and is currently trading around $1.090. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $1.15, any indicative breach above will take the pair to $1.48/$2. On the lower side, immediate support is $0.95, and any violation below targets $0.84/$0.760.
Indicators ( Daily chart)
CCI(50)- Bullish
Directional movement index - Bullish
It is good to buy on dips around $1 with SL around $0.84 for TP of $1.48
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