imToken, Asia’s largest wallet for Ethereum users and China’s first self-sustaining digital asset wallet, today provided support for public blockchain Tezos. Tezos is the twelfth public chain officially supported by imToken. The other 11 public chains include Bitcoin, Ethereum, Cosmos, Polkadot, EOS, Tron, Litecoin, Bitcoin Cash, Nervos, Filecoin, and Kusama.
This latest integration of public chain wallets shows strong support for popular blockchain projects like Tezos from imToken’s 11 million users in more than 200 countries and regions around the world. The integration brings all the wallet functions that the Tezos community in Asia needs.
The supported wallet features listed below include digital asset management, transactions, and baking:
- Create a new Tezos account / address
- Import and secure your Tezos account
- View Tezos balance and transaction history
- Send and receive tez
- Delegate and send tez
- Observe the baking yield and the accumulated tez
“This integration with imToken not only continues the transformation of payments, but also enables the community to build on the Tezos protocol and drive it forward.”
– David Shin, Head of TZ APAC
Tezos + imToken
In contrast to the high computational resources that Bitcoin miners need to secure the Bitcoin network, Tezos uses a consensus mechanism known as the Liquid Proof of Stake (LPoS) protocol to secure its network in a greener and cheaper way.
In blockchain technology, the PoS mechanism enables participants to reach consensus on the state of the blockchain on a large scale, thereby minimizing the friction of counterparty risk and a single point of failure. Anyone can participate in the consensus process by holding a certain amount of the native cryptocurrency of the blockchain network and establishing a blockchain node.
With the integration, imToken wallet users can now help protect the Tezos network by delegating their tez, the native cryptocurrency of the Tezos blockchain, to imToken and other popular validators within the Tezos ecosystem. These validators, known as bakers, are responsible for securing the Tezos network on behalf of the wallet users.
“Ethereum has been our focus from the start, but as PoS chains are becoming more popular due to their lower transaction costs and energy efficient usage, our users are asking for more PoS chains to try and use. We are excited to provide not only the original PoS chain with Tezos, but also one with a unique self-changing governance mechanism to integrate the latest technology. We thank the developer support from the TZ APAC team during the integration process. We look forward to this long-term cooperation. Let’s bake! “
– Ben He, imToken Chief Executive Officer
The integration of Tezos with imToken is part of an emerging global phenomenon where the storage of digital values in cryptocurrencies is combined and transmitted via digital wallets in a new era of programmable internet money. PoS chains like Tezos are enabling a new generation of financial networks and governance systems for entrepreneurs and companies of all sizes and industries. These financial networks bring strong network effects that reward their participants in proportion to the value they contribute in a verifiable and decentralized manner.