Winklevoss Brothers Seem to Know Who’s Ethereum’s Biggest Rival Will Be in New SXSW Video
As Tezos (XTZ) continues to have a good run in the market, Gemini Crypto Exchange Founders the Winklevoss Twins hae likened the lesser known altcoin to Ethereum.
Tezos (XTZ) is a multi-purpose platform that supports dApps and smart contracts developed by ex-Morgan Stanley analyst Arthur Breitman. It aims to combine a self-correcting protocol and on-chain governance to manage network modifications.
Tezos is powered by XTZ, which is created through ‘baking'. Bakers put up deposits and are rewarded for signing and publishing blocks. Witnesses then validate the blocks. Dishonest bakers lose their XTZ deposits. Tezos uses delegated proof-of-stake (DPoS) and supports Turing complete smart contracts. Tezos is implemented in the OCaml programming language, which is said to offer ‘functional, imperative, and object-oriented styles'.
In a Reddit thread, the company writes:
“Tezos: Protocol Amendment #1 Discussion Protocol amendment #1 (Athens)- With Nomadic Labs’ announcement of two competing amendment protocols, we have set up a discussion for everyone to participate in. I’ve selected a few volunteers for admins to guide it on Kialo. Everyone else is welcome and encouraged to join in the debate over which proposal offers the network greater value. Hope to see you all there.”
Following the mention by the Winklevoss twins that Tezos could emerge as a competitor for Ethereum, the price of XTZ skyrocketed to record a new high of 0.5225. However, the strength of the bullish rally seemed to have waned as the bears brought the currency to its pre-announcement levels. However, the bulls have tried to maintain a northward momentum, but seem to find resistance at 0.490. At that market point, there can be a line of choppy price movements for a while if the bulls do not take up the trade force quickly.
To read more about the price prediction of Tezos, you can follow our daily coverage of the price movement here.