EMERGING TECH
EMERGING TECH
EMERGING TECH
As the Tezos blockchain goes live, Bitfinex adds support for Tezzie token
Troubled blockchain startup Tezos has finally gone live, receiving an immediate boost for its token with support from leading cryptocurrency exchange Bitfinex.
Tezos raised $233 million in an initial coin offering in July 2017 to support the development of “a self-amending crypto-ledger” offering a semidemocratic blockchain platform that allows users to vote on changes. The platform has been designed to support smart contracts and Dapps, distributed applications that reside on the Tezos platform.
Trouble started in October when the founders of the code declared war on the head of the foundation set up to raise funding to support its development. Several lawsuits later, including accusations of fraud and securities violations, Tezos purged its president in February in an effort to get back on track.
Today, Crypto Briefing reported that the Tezos Mainnet went live at just after 1400 GMT Monday, ending a more than two-month beta period for the platform.
So far there have been no reported problems, but the Tezos Foundation did warn users that “as with any new blockchain technology, unexpected issues may still impact the network” and that “users are solely responsible for any risks associated with usage of the Tezos network.”
“Tezzies” or XTZ, the token issued in the Tezos ICO that has been openly tradable since that time, surged on the news, trading at $1.47 as of 10:30 p.m. EDT, according to Coinmarketcap. The cryptocurrency has a market cap $892 million, making it the 17th largest cryptocurrency.
In a vote of confidence for the cryptocurrency, Bitfinex announced that it was adding trading support, a move that will give XTZ broader exposure to more investors and may encourage other exchanges to follow suit.
“The new listing of Tezos to the Bitfinex trading platform represents a significant milestone, adding yet another top 20 coin to our services,” Jean-Louis van der Velde, chief executive officer of Bitfinex, said in a statement. “Tezos is an elite token … which will provide a new and exciting investment avenue for our users.”
Image: Tezos
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