What is XTZ coin? What is XTZ coin

Tezos (XTZ) is a decentralized blockchain platform designed for developing and executing smart contracts with proof-of-stake consensus and self-amendment capabilities.

Oct 27, 2024 at 11:26 am

What is Tezos (XTZ)?

1. Overview

Tezos (XTZ) is a decentralized, blockchain-based platform for developing and executing smart contracts. It operates on a proof-of-stake (PoS) consensus mechanism and features unique self-amendment capabilities.

2. Key Features

Proof-of-Stake Consensus: XTZ uses a PoS mechanism where token holders can delegate their stake to validators to secure the network. Validators validate transactions and receive rewards based on their stake.
Self-Amending Protocol: Tezos has a built-in feature that allows the community to propose and vote on changes to the protocol, enabling it to evolve and adapt over time.
Smart Contract Platform: XTZ provides a platform for developers to create, deploy, and execute smart contracts, which can facilitate a wide range of decentralized applications and services.
Formal Verification: Tezos uses a formal verification process to ensure the security and correctness of smart contracts, reducing the risk of vulnerabilities.

3. Governance

XTZ is a community-governed platform. Token holders can participate in decision-making processes by proposing and voting on protocol updates through the decentralized governance model.

4. Tokenomics

Total Supply: 952.6 million XTZ
Circulating Supply: 912.6 million XTZ
Block Time: Approximately 60 seconds
Annual Inflation: 5.5%

5. Applications and Use Cases

XTZ is used in various applications, including:

DeFi protocols
NFTs (non-fungible tokens)
Tokenized assets
Supply chain management

6. Partnerships and Ecosystem

Tezos has partnerships with major organizations and institutions, including:

Samsung
Ubisoft
Sorbonne University
The World Health Organization

The Tezos ecosystem includes a growing number of projects, developers, and applications built on the platform.

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