A consortium including several Swiss start-ups is launching a Bitcoin running on the Tezos platform. The goal is to combine the liquidity of the largest and oldest crypto currency with the efficiency of a new generation block chain.
As a third-generation block chain platform, Tezos differs in many ways from its predecessors such as Bitcoin and Ethereum. Tezos has a live upgrade process and a governance mechanism that enables long-term use cases and minimizes platform risks. Spin-offs (so-called forks) which are quite common for Bitcoin are effectively precluded. The Tezos Foundation is a Swiss non-profit organization based in Zug and is the only large Blockchain foundation audited by one of the Big 4 auditors. This makes Tezos attractive for several applications. The block chain is for example very popular for real estate or healthcare projects.
With the new Bitcoin running on the platform – the TZBTC – Tezos has again increased its attractiveness. Bitcoin can now be used as a means of payment within the Tezos network.
TZBTC was launched by a decentralizes consortium under the leadership of the Bitcoin Association Switzerland and the Tezos Foundation. Almost all of the companies involved are from Switzerland - a rendezvous for the token industry in Crypto Valley:
- Bitcoin Suisse, Bity, Sygnum and Taurus act as "gatekeepers" for the conversion of Bitcoin into TZBTC and KYC & AML.
- Inacta, Lexr, Swiss Crypto Token and Taurus are responsible for custody and supply management as "key holders". The network is open to other players.
Never before has such a number of renowned companies from Crypto Valley jointly launched a decentralized project of this magnitude.
(Press release / SK)0Comments
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