Tezos is a new decentralized blockchain that allows token holders to perform technical upgrades and iterations through voting. Most of the code and algorithms in the project can be self-corrected, which largely avoids the hard fork problem that occurs when traditional blockchains upgrade.
Tezos introduced advanced formal verification technology, which greatly reduces the possible loopholes in the process of writing smart contracts. The more advanced DPoS mining algorithm allows token holders to maintain blockchain security and obtain rewards by node services or self-operating nodes.
XTZ, tez, or ꜩ (\ua729, “Latin small letter tz”) is the native currency of Tezos. The total amount of XTZ is ~760 million, among which 20% are owned by the team and 80% are used by the ICO. The Tezos ICO that didn’t have a cap for total coins sold. It generated more than $230 million worth of bitcoin (BTC) and ether (ETH) coins, making it the largest ICO to date.
Tezos tokens grow at roughly 5.5% per year, all the rewards are distributed to the network’s bakers. Currently, more than 70% of the XTZ are used for staking, which balances the dilution for inflation.
However, as Tezos matured, this return could be gradually lowered to the prevailing interest rate. A nominal rate of inflation below 1% could safely be achieved, though it’s not clear there would be any point in doing so. Tezos thinks that too much inflation is not good for the system.
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There are many ways to obtain XTZ. Buying XTZ through an exchange is the easiest and the most common way. Before doing so, make sure the exchange operates legally in the region you live in and accepts the methods of payment you wish to adopt.
Before any purchase make sure to learn about the different options and understand risks involved in buying XTZ.
Exchanges that support the purchase of XTZ
Baking is to Tezos what mining is to Bitcoin. Tezos’ approach to consensus has been described as Liquid Proof of Stake. Tezos allows its stakers (a.k.a. delegators) to earn rewards by delegating their tez coins without any lock-in or freeze mechanism. This gives the “liquid” nature to Tezos’s proof-of-stake implementation.
Tezos Block Explorer
Tezos Block Explorer is an open source web tool that stays synchronous with all Tezos nodes and allows you to view information about blocks, addresses, and transactions on the Tezos blockchain.
Tezos was founded in 2014 by Arthur Breitman. The so-called “Position Paper” and Tezos whitepaper detail Breitman’s (or: “LM Goodman”) ideas on the blockchain.
Head of the organization of the blockchain builds the Tezos Foundation in Switzerland, which raised $232 million in the biggest ICOs of 2017.