Let's take a bit of a backseat for a while on trading strategies and kind of review one of the best crypto projects out there. Of course, this is just my opinion, and anyone can say something else.
I am not really a fan of long-term holds as I believe right timing is the key to really making more money on any trading markets. I mean someone could have held maybe Doge coin for a year and then somebody also bought in on Doge the day before it skyrocketed. But, of course, who can really say when is something gonna moon, right? So the best strategy for most is buy when low and hold it. Yeah, that's proven but I am a trader guy and wants to maximize my money. I go where there is activity.
But to make an exception, there is this one crypto that I am holding long term, and that is Tezos.
Now, why do I like Tezos? Okay, so I want to share how I kind of look at a coin before throwing money on it.
Unlike gambling, it's always a 50-50 chance, right? In stocks or crypto, when you do research, you are already putting the odds on your favor. And, sadly, that's what most people miss out on, doing the research.
So I dug a bit on Tezos. To my surprise, it blew my mind. So we know Ethereum is probably right now is the coin with the biggest utility, and that's why it is second in command to Bitcoin. Biggest utility means, it has so many things going for it with actual use cases.
Ethereum's network is the most busiest and that is why gas fees are actually more expensive now as more people use Ethereum network, and a lot of people do really use Ethereum the coin.
So this is what I found out, Ethereum is something that is mined. They call this mining thing, proof-of-work concept. You get rewarded when you have shown that you have worked on it, basically that's what proof of work is.
However, Tezos, literally blew my mind. As a rule, I have to read at least the white paper before I buy into anything. If it's convincing, then more or less, I might buy it. So what blew my mind away was that Tezos actually was the one who introduced the liquid proof-of-stake governance.
This may sound a touch techie but it is important. Proof-of-work, you'll need mining rigs and other hardware that may require lots of power. Proof-of-stake need none of that. Then with Tezos, you don't even need to lock your coins just to stake. You just need to delegate the rights, and you're staking. This feature alone saves a lot on the resources of the network already.
Tezos is said to be self-evolving. They don't need hard forks like what happened with Bitcoin and Bitcoin Cash. Consensus are resolved in a much democratic way. With Bitcoin, the validators didn't see eye to eye, so they had to part ways.
For investors, having hard forks is not good because it means some protocols have changed and they might leave because the new protocol could be not in tangent to their reason for investing in the first place. So Tezos is self-evolving because any matter is resolved without needing for hard forks.
Before I argue Tezos' case any further, I've been mentioning Ethereum quite a lot. Actually the reason for that is Tezos is a direct competitor of Ethereum. Ethereum is actually shifting to a proof-of-stake consensus or else Tezos will eat them alive.
Enough of technicals, let's go to other things. So Ethereum's smart contract concept has evolved into many applications like NFTs, DeFi platforms and creation of other crypto coins as well. For that it is no contest that Ethereum is enjoying a premium as evidenced of its price.
Tezos on the other hand can do also most of what Ethereum can do but on a much efficient and environmental-friendly manner. Perhaps, Tezos weakness is truly in concentrating on its DeFi products, but other than that, Tezos beats Ethereum products hands down.
To mint NFTs, using Tezos is so cheap plus it has already attracted celebrities to use its NFT platform, so there is that. Tezos NFT platforms are slowly now dominating the NFT market. Ethereum's exorbitant gas fees is actually leading a lot of minters to Tezos.
Tezos are slowly now getting premium clients. F1 teams like McLaren and Red Bull have chosen Tezos to be their blockchain partner to handle their NFT and fans experience program. If you watch the races, you'll probably see the logo of Tezos on two F1 cars. Other coins are getting ad spaces on the New York Times Square and airport walkways, Tezos is on F1 cars.
Another plus for Tezos is that European finance institutions of the likes of Crypto Finance Group, InCore Bank, and Inacta have named Tezos their partner for their onchain digital financial products. This is basically smart contracts to be executed on the Tezos network. Societe Generale also had experimented on Tezos network to the tune of EUR 140m issuance of security bond tokens.
Kathleen Breitman, co-founder of Tezos, is also working on her own to "blockchainize" the Collectible Card Game industry via the Tezos network through her partnership with a company called Coase along with Magic the Gathering and Pokemon online game devs. For now they are in beta mode for their first blockchainized CCG game called Emergents, and soon others will follow. This alone I think can make the coin jump to $50.
Then lastly, the last thing I want to point out is that Ethereum is currently at $4,530 while Tezos is at $6.32. I'm pretty sure when Tezos gets its comeuppance then a price of $1,000 or higher is not far-off. I mean Ethereum could move higher too but definitely Tezos is going to go after the levels of Ethereum, at least on the number of digits. I'm actually confident it could dislodge Ethereum but maybe not in the next 5 years. But, hey, this is crypto, so anything is possible.
