Right now, all of the popular DeFi projects are built on top of Ethereum.
In fact, if you look at the top 100 cryptos by market cap, most of them are built on top of Ethereum.
But as you may know, Ethereum doesn't deal well with massive network demand just yet. (That's part of the reason Ethereum 2.0 is so hotly anticipated.)
And so, transaction fees have gone through the roof. It currently costs more to send an Ethereum transaction than a Bitcoin one.
All of this has led to a new popularity in “Ethereum killers” - projects vying to become the #1 platform crypto and topple Ethereum's crown.
Ethereum has the network effect, developer pool, first mover advantage, name recognition and perhaps most importantly, trust.
But until Ethereum 2.0 finally ships, other projects arguably have better technology…
And they are gaining traction!
One such project is Tezos – currently sitting in 19th place in terms of market cap.
In fact, there are a number of funds looking to develop and deploy billions of dollars’ worth of security offerings on the Tezos blockchain, which speaks loudly about its potential assuming we see a repeat of the previous two cycles.
What’s more, Tezos’ blockchain recently underwent its biggest feature upgrade so far.
Some of the things coming to Tezos include,
• Baker account management
• Zero-knowledge proofs
• Governance system extensions.
Our resident crypto expert Sam Volkering, recently said this about Tezos’ latest upgrade…
Zero-knowledge proofs, is technology derived from the Zcash project. And it’s a function that Ethereum has said it’s going to implement in its blockchain too.
Except Ethereum has delayed it, and delayed it, and talked about it but not actually put it into practice. Tezos just seems to get on with the job and get things done. The community and in particular the development community seem to be very focused and effective in the development of the Tezos blockchain.
And that’s why it’s really starting to get noticed as a potential giant of the blockchains when things like decentralised finance (DeFi) starts to find its way on to Tezos and it’s used for other banking and finance functions in the future.
And that’s why Sam thinks a 1,000% gain from Tezos in the future is not far-fetched!
PayPal Makes a Stunning Cryptocurrency Announcement
Soon, you'll be able to buy, hold, and sell cryptocurrencies through Paypal.
With Google, Oracle and Microsoft already playing in this space, this is huge news.
PayPal is one of the most trusted names in online payments with 346 million users.
And as more and more people start adding these digital assets to their wallet...
The profit potential in play will only grow bigger.
How to buy Tezos
Binance is probably the best cyrpto exchange right now. It’s also the biggest.
The platform has led its competitors thanks to an excellent team behind the exchange, robust security, and support for many cryptocurrencies, stable coins, and tokens.
It’s also one of the few that never inflate its trading volume and is very open when it comes to its operations.
Recently Binance announced a great move that will allow SA investors easier access to many cryptos including Tezos (XTZ). SA investors can now deposit and withdraw rands – before you had to transfer cryptos (unless you owned dollars, pounds or euros).
Just open an account, fund your wallet and find XTZ (Tezos) crypto.
Everything you need to know about setting up an account on Binance can be found in The Investors Guide to Making a Fortune from Cryptocurrencies
Report – which you can get right here
See you next week.
Managing Editor, The South African Investor