Tezos Faces High Competition And Decentralization: Analyst Opinion

Tezos faces high competition and decentralization since on average 155 different XTZ bakers are taking part in block production each day. Let’s find out more in the following Tezos news.

TezTracker Update announced that the developers are not willing to stop working on the Tezos Explorer TezTracker. They added multiple useful features such as charts, statistics and data. Tezos Agora made the first post about the naming of the service series and the main purpose of this service is to translate meaningful and user-friendly alias to a Tezos address to vice versa. This translation is important because all of the participants on the blockchain will be able to see the address.

According to Tezos Agora, “The Domain Name System (DNS) is a hierarchical and decentralized naming system for computers, services, or other resources connected to the Internet or a private network. It associates various information with domain names assigned to each of the participating entities.” The crypto expert Sydney Ifergan explained:

 “Tezos (XTZ) will know that usability is the make or break factor that will decide their success.  Tezos are very clear that data should be accessible to everyone regardless of the language they speak.”

Tezos faces increased competition but the Teztracker is already being used in Russian and Chinese. The community is also open to other suggestions. There’s also a tutorial on the fungible tokens on the Tezos blockchain where you can learn what fungible tokens are, what is TZIP-7 and how to set up a smart contract. USD Tez is the Tezos stablecoin which works on improving the Tezos DeFi. They are not announcing a new strategic partnership with Chainlink. Thanks to the oracle technology of Chainlink, the Tezos DeFi strategic collab is expected to be successful.

The latest version of Tezos-GUI was released a few days ago. The desktop app was redesigned in a way to deploy smart contracts on the Tezos test new which runs locally by making use of the Tezster CLI. The explorer from the Tezos Baking Bad made the tracking transaction errors easy to solve. It’s expected that the community developers who bring similar features such as these ones, Tezos will give Ethereum a run for its money and is set to face more competition and decentralization.