What is Tezos (XTZ)? | Tezos Crypto Explained in Under 60 Seconds

2 years ago
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Tezos is a secure, upgradeable, open-source blockchain network that can run complex smart contracts and decentralized applications (DApps).

Tezos Coin (XTZ) - The Tezos network is powered by its native coin XTZ, also known as ‘tez’. Used for interacting with the network and protocol governance.

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Smart Contracts & Formal Verification - Developers can create smart contracts representing real-world value (financial assets, ect.) with formal verification. Developers can use formal verification to mathematically prove the program code performs correctly.

Self-Amendment (Futureproof) - With self-amendment, Tezos can upgrade itself without the need for a hard fork. This reduces protocol upgrade costs and allows for the seamless integration of future innovations.

Liquid Proof-of-Stake (PoS) - Any Tezos stakeholder can delegate tez coins to earn rewards by participating in the consensus process, without any lock-in or freeze mechanism.

Baking - The Tezos ledger is secured with the ‘baking’ PoS consensus mechanism, which ensures all block transactions are correct and prevents double-spending.

WEBSITE: https://tezos.com/

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