DATAXSTUDIO teases Genesis TEZOS x RARIBLE NFT Collection with Trailer
With no clear drop date, DATAXSTUDIO has hinted at a Genesis TEZOS NFT Collection by releasing a trailer “DATA-X Genesis TEZOS x RARIBLE NFT Collection” on their channel. Following the lead of UBISOFT & McLaren Racing, more brands will be looking to hop on the clean NFT movement as it’s efficiency level compared to ETH is immense. Carbon footprint responsibility & ultra-low gas fees have been a big factor in the upcoming blockchain’s market acceptance.
It’s recent collaboration with Rarible is sure to make it a powerful new competitor to market leader Ethereum which still controls the majority of smart contracts in the NFT world. As of December 17 2021, the Ethereum Market Cap is at a current level of 460.44B, down from 469.97B yesterday and up from 73.24B one year ago. This is a change of -2.03% from yesterday and 528.7% from one year ago showing a powerful market dominance looking forward.
Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. This is something that both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.
Although staking is common across blockchains, Tezos has a unique twist on this process. Participants can get involved with the network’s governance through “baking,” where they effectively stake 8,000 XTZ. This creates a financial incentive to act honestly.
Bakers are then tasked with voting on proposed changes to the blockchain’s code in a four-step procedure that takes approximately 23 days. Proposals that receive support from the vast majority of participants are put through their paces on a testnet for 48 hours and are fully implemented if they are backed by a super-majority.
Tezos is also unique because of how it has started to be used by high-profile businesses. In September 2020, it was announced that the French banking giant Societe Generale planned to use this blockchain for experimenting with a central bank digital currency.
Big cryptocurrency exchanges such as Binance and Coinbase have also unveiled support for Tezos staking, meaning users can receive rewards based on the XTZ that they hold. This is not a feature that’s seen too widely across digital assets.
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