Where & how to buy Tezo (XTZ) in US Virgin Islands

What is Tezos (XTZ))?

Tezos (XTZ) is a blockchain network linked to a digital token, which is called a tez or a tezzie (XTZ). Unlike Bitcoin, Tezos does not rely on mining but instead uses a proof-of-stake based consensus model. Founded in 2014 by Arthur and Kathleen Breitman, Tezos aims to offer a more advanced infrastructure—meaning it can evolve and improve over time without the danger of a hard fork. This is because Tezos stakeholders can vote on amendments to the protocol, including upgrades to the system itself, which then happen automatically if the proposals are accepted​​. The network's proof-of-stake variant is called Liquid Proof-of-Stake (LPoS), and it includes a process called "baking," where stakeholders lock their funds in special smart contracts and gain the ability to vote on network upgrades, along with earning rewards for creating and verifying blocks​​.

The price of Tezos, like that of many cryptocurrencies, is influenced by a combination of internal dynamics and broader market trends. Tezos's price has experienced what's known as a boom-and-bust cycle, where growing enthusiasm leads to rapid price increases, followed by crashes as doubt sets in. Price changes can be attributed to factors like project news, developments, the flow of assets on exchanges, public sentiment, and trends in the wider crypto and global economies. Notably, Tezos does not have a maximum supply cap and has an annual inflation rate, which is used to incentivize network participants. This inflation can exert downward pressure on the price if demand does not keep pace with the increasing supply. However, the high participation rate in Tezos's staking system, known as "baking," reduces the effective circulating supply as many tokens are locked in staking contracts. Additionally, the demand for XTZ is driven by its utility for paying gas fees in the network's operation of dApps and smart contracts, as well as for Security Token Offerings (STOs) on the network, which can apply upward pressure on the price​

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