Tezos (XTZ) has been one of the most hyped ICOs in the market, and it is now in a renewed hype cycle. The Foundation did not set up a date for the launch but it may happen very soon, or at least, sooner than expected. It is important to mention that the launch of Tezos will have a strong performance test after the experience of the EOS network which had some glitches and problems.
The Tezos foundation has given a vague announcement giving some information about the ICO to the participants. The ICO has been very attractive for developers and other investors that thought about it as an investment possibility.
At the moment, XTZ tokens trade at $3.66 dollars with very limited volumes on the HitBTC exchange, which is one of the most important in the market. The pre-launch did not attracted lots of investors because of the long wait and scandals that involved the Tezos foundation and the owners of the code, Kathleen and Arthur Breitman.
The launching of the ICO is happening in a bear market that affected the price of the most important virtual currencies in a negative way. Indeed, most of the virtual currencies lost between 60 and 80% from their all time highs between December 2017 and January 2018.
Furthermore, EOS, an important blockchain platform and cryptocurrency in the market, was not able to trigger a recovery, and it is possible to think that the new XTZ assets may be the next opportunity for growth.
XTZ seems very undervalued and may appreciate in the future as soon as the platform is launched and the token listed on other exchanges.
Apparently, the Tezos Foundation will not be controlling the network and the rules. Moreover, the ‘baking’ process (which is the term use for staking) would be a much more democratic process. Different projects have been working on governance and enhance crypto systems, and some of them have already found some issues to enhance.
At the moment, the Tezos project is working on a security check, by hiring Hacker One to check the code and rune a bug bounty program.
The Tezos Foundation explained about that:
“The HackerOne bug bounty program is the latest in a series of steps to support the security and stability of Tezos. Other recent initiatives include a code review by experienced researchers at Inria, the French National Institute for computer and science and applied mathematics, and an audit by least Authority, a firm specializing in source code security.”