eToro trades Tezos on its platform after an announcement on twitter. eToro is a social plaform for the trading community. In a post on twitter, the company announced that Tezos will be available to trade on eToro.
This news comes in the wake of the multiple Intelligence Chiefs of the west calling cryptocurrencies a threat.
What is eToro?
eToro is a platform for trading with a social angle. Their tagline claims that eToro is “the world’s leading social trading and investing platform”. It started in 2007 with a mission to make trading accessible to all. It grew from strength to strength and introduced a new concept in trading.
In 2010, for the first time it introduced social trading, enabling anyone in the world to join the Fintech revolution by copying other successful traders using the innovative CopyTrader™ feature. The platform attracted global attention, winning Finovate Europe Best of Show for 2011.
In 2012, both WebTrader and OpenBook were made available via a handy mobile app. Using their Apple or Android smartphone, clients could perform any action on the platform on the go.
In recent years, eToro has taken an active part in the proliferation of cryptocurrencies. They enable multiple types of crypto to enter a competitive market. This makes crypto more mainstream.
In a Tweet on August 5th 2019, the company announced that it has made Tezos available for trading. Tezos is currently the 16th most important cryptocurrency in the market.
What is Tezos?
Tezos is an interesting Blockchain network that aims to solve the problems with the current ones. In particular, it was built to solve the problems faced in Bitcoin.
Tezos has a token called XTZ. It doesn’t have a maximum supply. Current tokens in circulation is 659,909,883. The market capitalization today is at $900 million. 1 XTZ token is worth 1.38 US dollars today.
Arthur and Kathleen Breitman started building the network in 2014. The network rose to fame when the ICO generated $223 Million in funding. This was immediately followed by a rift in the leadership which put everything on a backburner.
In September of 2018 the platform was finally ready for use. On the website Tezos is defined as “an open-source platform for assets and applications backed by a global community of validators, researchers, and builders.” The system of validators, researchers and builders are an important part of the system.
No Hard forking
Bitcoin split into Bitcoin Cash that further split into Bitcoin SV. These were political and technical splits that caused a lot of problems for the community.
Technology has to change. To make sure this happens in a decentralized manner, Tezos was built with a soft fork feature. Any changes are submitted to the entire platform for approval. Once it gets approval, it will be amended into the blockchain. The developer will be incentivised for his/her troubles. The changes are gradual and done positively.
Proof of work was a brilliantly simple concept that worked well for the Bitcoin blockchain. Until it didn’t. Because of its popularity, only people with the best hardware can actually mine on Bitcoin. This makes it centralized again.
To decentralize the network, they opted for a delegated Proof of Stake with validators. Along with a sort of democratic system, the Tezos platform is a new concept on a tried and tested method.
Check it out here. It has all the modern features like smart contract safety, long-term upgradability, and open participation.
eToro trades Tezos on its platform bringing it closer to the crypt top dogs.