One article to understand what XTZ coins are and which country XTZ coins are from

Tezos (XTZ) coins are the native cryptocurrency of the Tezos blockchain, a platform designed for smart contract development and decentralized applications, with features such as on-chain governance and a modified Proof-of-Stake consensus mechanism.

Oct 26, 2024 at 09:05 pm

Understanding XTZ Coins: Origins and Key Characteristics

1. What are XTZ Coins?

XTZ coins, also known as Tezos (pronounced "tay-zos"), are the native cryptocurrency of the Tezos blockchain platform. Tezos was developed as a decentralized, open-source blockchain that aims to facilitate the development of smart contracts and decentralized applications (dApps).

2. Origin of XTZ Coins

The Tezos project was co-founded by Arthur Breitman and Kathleen Breitman in 2014. The project raised funds through an initial coin offering (ICO) in 2017, raising 66,066 Bitcoins (BTC) and 361,122 ETH.

3. Key Features of XTZ Coins

XTZ coins offer several key features that differentiate them from other cryptocurrencies:

On-Chain Governance: XTZ holders have voting rights on the governance of the Tezos blockchain, allowing them to participate in decision-making on protocol updates and future developments.
Proof-of-Stake (PoS) Consensus Mechanism: Tezos uses a modified version of the PoS consensus mechanism called Liquid Proof-of-Stake (LPoS). This mechanism allows XTZ holders to delegate their coins to validators who validate transactions and produce blocks on the blockchain.
Formal Verification: Tezos smart contracts are formally verified using the OCaml programming language, which provides a high level of security and reliability.

4. Country of Origin

XTZ coins are not tied to a specific country. The Tezos Foundation, the non-profit organization behind the Tezos project, is headquartered in Switzerland. However, Tezos is a decentralized and international blockchain platform with a global community of developers, users, and investors.

5. Use Cases of XTZ Coins

XTZ coins can be used for a variety of purposes, including:

Paying transaction fees on the Tezos blockchain
Delegating to validators to earn rewards
Staking XTZ to participate in on-chain governance
Purchasing goods and services from merchants that accept XTZ

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