Tezos, a blockchain network that is “self – amending,” is said to have completed its first round of voting, to determine if the community of cryptocurrencies is in favor of launching a set of upgrades to the blockchain of Tezos. Tezos is an intelligent blockchain contract that in 2017 collected $ 232 million from its ICO. Even though the news hasn’t always been positive, it seems that Tezos did something right at least at a late date.
The price has risen unbelievable 70 percent over the last three days, leaving XTZ holders happy and everyone else wondering how Tezo turned its fortune. The prices of Tezos’ XTZ cryptocurrency have risen in the last day by more than 20%, probably because of the first successful round of elections announcement made on the platform. The current market share of Tezos, however, continues to be well below the $1 billion last year.
Although since the launch of Tezos, the upgrade system has been known, it has been recently tested. During the last couple of days, some token holders from Tezos have voted in favor of raising gas limitations, allowing greater transactions and lower staking requirements.
A series of systems wide-ranging updates is provided for the proposed amendments to the protocol, known as “Athens A” and “Athens B.” Both of those upgrades are hard forks that are now activated automatically. Designers argue that they have developed a “self – governing” network.
While there is no other noticeable news from Tezos as to why any coin pumps or dummy have 100 percent certainty, and most people presumably assume that this successful vote is the reason for the price increase. Tezos is about to make blockchain history, after a year and one half of negative news, as it aims to implement this upgrade without a hard fork or central authorization.
Tezos ‘ Athens ‘ proposes the network of ‘ bakers ‘ has voted 25,855 community votes, which is equivalent to the miner’s on crypto platforms based on proof – of – work (PoW). The majority of votes or 18,181 were in favor of enabling Athens A – related updates.
It should be noted that the upgrade process has just started and will take three months. This leaves a lot of time to go wrong. But progress so far is promising and appears to be rewarding Tezo holders who have not given up on hope.
For the next phase in the process of amending the Tezos protocol, users are required to participate in the “exploration vote” of three weeks. Bakers will vote during the exploration period to move the Athens A proposal into the test phase. When 80% or more of the voters in the platform decided to initiate Athen A-related changes, a temporary blockchain network based in Tezos is launched.