Hey Ramp community!
Today's topic on our blog is... Tezos! A lot was expected from this PoS blockchain since day one - let's see what is the current progress with the network and explore the details of this exciting new partnership!
What is Tezos?
Tezos, like Bitcoin and Ethereum, is an open-source blockchain. Unlike Bitcoin and Ethereum, it's consensus mechanism is based on Delegated Proof of Stake, not Proof of Work. This means that network participants - stakeholders - have the ability to participate in important protocol and governance decisions through an on-chain governance protocol. Much like Ethereum, Polkadot or Avalanche, it supports smart contracts and creation of new tokens. However, the real game changer for Tezos is its ability to learn and improve overtime without the need for hard forks.
The self-amending crypto ledger?
The secret sauce here is the mechanism which enables Tezos to adopt new features quicker simply because the incentives to improve the technology behind XTZ are built into its governance mechanism. The creators made sure that working on Tezos simply pays off: every fix is rewarded with a freshly-minted XTZ. Neat! If you wish to read more abut the governance principles behind this project, I suggest you start with this article from Kathleen Breitman, Tezos co-founder.
The new path ahead
Kathleen is also one of the thought leaders behind Tezos, along with Arthur Breitman. Together they worked on the first white-paper and founded the Tezos Foundation which guides the work on the protocol now. Although the early days of Tezos were somewhat dramatic (remember this one?), the team is now simply delivering. Aside from launching mainnet with XTZ support, we also support USDS allowing us to easily consider support for future FA2-based assets.
Now available on Ramp!
In 2017 they raised $232 million in one of the biggest ICOs of all time and a lot was expected from them. Enabling easy entrance into the ecosystem ws always on of the key elements and we're proud to say that buying TEZOS will now be easier than ever - it's one of the assets supported by Ramp.
You can use debit or credit card, ApplePay, OpenBanking or SEPA transfers to quickly get XTZ and USDS at best rates - starting at 0.49%. Here's where you can try it!
And as usual - builders, we present you the one SDK to rule them all - and let your users buy XTZ in minutes.
Do you want to build on Tezos with us? Check out the docs and schedule a call with our Partnerships Team below!