It’s been a good run up for Tezos (XTZ) for the past few weeks. It has been gaining in value, and pushing up crypto rankings as well. From raking in the mid-20s a few months ago, Tezos has been climbing and now ranks 15th. Given the delisting issues that Bitcoin SV is facing at the moment, there is a good chance that Tezos could push to 14th. However, it’s not just the misfortunes of other coins that is pushing it up market cap rankings. Tezos has also been gaining some amazing publicity lately. For instance, on the 16th of April, it was featured on the largest publications in France.
Tezos was featured in the Le Figaro, in an article titled, “Tezos, the very promising blockchain French project.” The article goes to great lengths to explain what Tezos is, and its governance structure. The other major publication that has focused on Tezos lately is Yahoo Finance. The Yahoo Finance article titled, “Crypto price crash actually good for business, says entrepreneurs” makes the case that people are building on the blockchain. It quotes Arthur Breitman saying that,
“I’m going to repeat something that everyone says in this ecosystem but it’s true: when you’re in crypto winter, people actually are building cool technology as opposed to watching prices on the ticker and I think that’s healthy.”
Both of the articles paint Tezos in a positive light and could captivate the older, more financially well off investors into Tezos. This is important and could play a huge role in pushing up its long-term demand.
The best part is that Tezos has the fundamentals to match up the hype. This is one of the best platform blockchains in the market, alongside Cardano (ADA). One of the factors that give it a good standing in the market is the formal verification of smart contracts. Tezos smart contracts are formally verified. This means that there can’t be buggy code in a Tezos smart contract, and this gives it utility in sensitive industries such as finance, the medical world and in engineering. Formal verification places Tezos in a unique position for growth in the development of smart contracts. The other project that has similar capabilities is Cardano (ADA), which will also have formally verified smart contracts.
Another key aspect to Tezos (XTZ) that makes it strong is its governance. Tezos is one of the few projects that have got it right on governance. Its governance makes it decentralized, while at the same time avoiding hard forks. In Tezos, if a developer has an idea, it is voted upon and if it is accepted, it gets approved by the community. The beauty of it is that, it gives Tezos an element of stability. That’s because, from the history of hard forks in crypto, it is clear that they are not the future of crypto. In fact, they are detrimental to growth. Therefore, a platform like Tezos, which by design avoids them has a good chance of growth in the long run.