What is Tezos (XTZ)?

Website: www.tezos.com

Maximum Supply: No Data

Total Supply: 767,953,338 XTZ

Circulating Supply: 767,953,338 XTZ

Explorers: Tezos Explorer 

Whitepaper: Tezos Whitepaper

What is Tezos (XTZ)?

Tezos (XTZ) is a multi-purpose blockchain platform that supports decentralized applications (DApps) and smart contracts. The most important feature that distinguishes the Tezos blockchain from other blockchain structures is that the Tezos blockchain is self-developing and changeable without the need for division. Tezos users can contribute to the development of the protocol and earn incentive rewards. Tezos works by generating incentives for users who want to be involved in the core development of the Tezos protocol. However, the Tezos blockchain ensures that the network remains decentralized by using formal mathematical proofs to ensure that certain critical features of the Tezos protocol are preserved.

When and by whom was Tezos Developed?

Tezos was developed by former Morgan Stanley analyst Arthur Breitman with the support of his wife, Kathleen Breitman. With the initial cryptocurrency offering (ICO) in 2017, Tezos, which raised $232 million USD, launched its beta network in July 2018, one year after the ICO.

How Tezos Mining Works?

Tezos is based on the Proof of Stake mechanism, not mining. The Tezos protocol uses XTZ tokens generated by a method called "baking". In the Tezos baking system, each baker receives a reward for the blocks they sign and publish, in exchange for their deposits in the staking method. Then they testify and verify for this block. Dishonest bakers lose their XTZ deposits, which encourages users to act ethically within the Tezos ecosystem.