Binance Lists Tezos (XTZ) As Staking Rumors Emerge

Binance lists tezos as the major crypto exchange hinted plans of staking the cryptocurrency for trading on the platform as we are about to read in the Tezos news today.

Just a few days ago, Binance officially announced the listing of Tezos by launching three more trading pairs featuring the number one cryptocurrency Bitcoin and the controversial Tether (USDT). Binance also featured its own native token the Binance Coin (BNB). After the announcement, the users can start depositing Tezos on their accounts while the launch for the trading happened on September 24^th as the exchange announced.

The CEO of the company Binance Changpeng Zhao also known as CZ retweeted the news saying that the crypto community should be very intrigued by asking them ‘’you know what comes next, right?.’’ After the user on Twitter suggested that this move could mean Tezos staking, CZ avoided providing a straightforward answer but he did express his excitement with a happy emoji. As it was described by the Binance blog, Tezos is a self-amending blockchain that can evolve by simply upgrading itself and the stakeholders will be able to vote on amendments to the protocol including the amendments to the voting procedure.
buy zenegra generic buy zenegra online no prescription

The proof-of-stake consensus algorithm allows the stakeholders to take part in the validation of the transaction on the network and get a reward.

According to the staking-focused website Staking Rewards, the staking of Tezos is referred to as ‘’baking’’ which means creating new blocks on the blockchain. Binance lists Tezos mainly because of the PoS protocol which enables the stakeholders to participate in the baking and governance process. This mechanism enables the coins to be delegated to a special delegated service of their choice with the smallest amount of holdings. As per the altcoin news previously we found out that the delegating service, the owner’s holdings are set in the correlation with the total staking balance of service and rewards will be paid out after they have been released by the network.

If all of the coins get activated and get baked or delegated to a baker, the yearly inflation rate of Tezos will be 5.5 percent. At the beginning of August, the Tokenized Masternode Investment Fund released its calculations of the top 10 pos blockchains based on the expected yield of the token but Tezos was not really involved in the rankings.