Learn About Tezos
Tezos (XTZ) is a decentralized blockchain platform that empowers token holders to vote on network upgrades, eliminating the need for hard forks. Its self-amending governance model automatically implements approved changes across all nodes, putting control directly in users' hands. Launched in 2018 after a groundbreaking $232 million ICO, Tezos pioneered "on-chain governance," distinguishing itself from traditional cryptocurrencies.
How Does Tezos Work?
Tezos operates via a unique two-part blockchain architecture:
- Network Shell: Manages transactions and executes user-approved protocol amendments.
- Network Protocol: Submits upgrade proposals to the shell for voting.
Liquid Proof-of-Stake (LPoS)
Tezos uses LPoS, a variant of PoS, where users "bake" (stake) XTZ to validate transactions and vote on proposals. Bakers require 8,000 XTZ to participate. The voting process spans four phases over 92 days (4×23 days), ensuring thorough scrutiny of proposed changes.
Who Created Tezos?
Founded in 2014 by Arthur and Kathleen Breitman, Tezos is headquartered in Switzerland. Despite early management disputes between Dynamic Ledger Solutions (DLS) and the Tezos Foundation, the project stabilized and launched successfully in 2018.
What Makes Tezos Unique?
- Self-Amending Governance: Eliminates hard forks via on-chain voting.
- Decentralized Upgrades: Automatic implementation of approved proposals.
- LPoS Consensus: Enhances flexibility and security compared to traditional PoS.
👉 Discover how Tezos compares to Ethereum
What Gives Tezos Value?
- XTZ Utility: Used for staking, voting, and transaction fees.
- Institutional Adoption: Partners like Securitize and tZero tokenize assets on Tezos.
- Fixed Supply: Max supply capped at ~762 million XTZ with ~5.51% annual inflation.
How to Use Tezos
- Staking (Baking): Earn passive income by delegating XTZ to bakers.
- dApp Development: Build applications on Tezos (e.g., tzBTC, Tezsure).
- Payments: Spend XTZ at merchants accepting cryptocurrency.
Choosing a Tezos Wallet
- Hardware Wallets (Ledger/Trezor): Best for security.
- Software Wallets (Kriptomat): User-friendly for beginners.
- Web Wallets: Convenient but less secure.
Tezos FAQ
Is Tezos a Competitor to Ethereum?
Yes, both support smart contracts and dApps, but Tezos’ on-chain governance offers unique advantages.
Is XTZ Delegation Safe?
Absolutely. Delegated XTZ remains under your control—bakers only use it for staking.
When Do Bakers Earn Rewards?
After a 35-day initial wait, rewards are distributed every 3 days.
Conclusion
Tezos stands out with its self-governing blockchain, robust security, and institutional partnerships. Its innovative LPoS mechanism and community-driven upgrades make it a compelling choice for investors and developers alike.
Ready to explore Tezos? Buy XTZ securely here.
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