Can Tezos Boot Cardano From the Coveted 10th Spot?
Tezos is smart contract supporting platform for dApps which has some resemblance to the better known Ethereum. One major difference between Tezos and Ethereum is that Tezos does not utilize a mining process. Instead signing and confirming a new transaction is done by random Tezos holders. This process is called 'baking' on the Tezos platform.
Earlier today, Tezos retweeted a tweet that sent the markets wild. The tweet was regarding a new proposal called Tenderbake which is a new consensus protocol which could be included in Tezos in the future.
We are excited to announce Tenderbake, a Classical BFT Style Consensus for Public Blockchains. The paper was published in collaboration with @CEA_List. Learn how this could be included in a future #Tezos protocol upgrade.https://t.co/NlqAUtfvw3#Blockchain #POSâ Nomadic Labs (@LabosNomades) February 3, 2020
This new proposed protocol update will reduce spam and will prevent runtime memory errors.
Tezos & the Markets
Following the announcement, Tezos managed to climb a massive 17% in less than 24 hours. It managed to climb a few rankings and climbed above competitors such as Ethereum Classic & TRON. Tezos is now very close to dethroning Cardano from the 10th spot on Coinmarketcap.
Should this rally continue, it could be one of the larger altcoin rallies of 2020 and a strong indicator that alt season is here.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado