Tezos (XTZ) will be featured at the upcoming Token2049 conference in Dubai

Tezos will be featured at the upcoming Token2049 conference in Dubai

Tezos, a blockchain platform renowned for its decentralized applications (dApps) and smart contracts, will be making an appearance at the upcoming Token2049 conference in Dubai. The event will take place from April 30th to May 1st at the Armani Hotel Dubai.

Announced via XTZ’s official Twitter account, the platform’s presence at the cryptocurrency conference comes as it continues to contribute to advancements in the blockchain industry.

The keynote address, titled “Uranium On-Chain”, will discuss how Tezos is contributing to advancements in the blockchain industry.

The platform’s contribution to the cryptocurrency scene has seen it gain recognition among members of the industry. Most recently, Tezos was named among the top 10 blockchains in the world by CCData, a leading provider of digital assets data and research.

In the realm of decentralized governance, Tezos’ iteration stands out. It is a blockchain governed by a decentralized autonomous organization (DAO), which in the case of Tezos is comprised of its token holders. Through this DAO, they vote on proposals for modifying the blockchain.

The platform operates on Liquid Proof of Stake (LPoS), a unique iteration of the Proof of Stake (PoS) mechanism, where participants holding more than 6,000 Tez (XTZ) become delegates, also known as “bakers”. These bakers are responsible for creating, signing, and publishing new blocks on the Tezos blockchain, as well as endorsing blocks that have been produced by other bakers.

Moreover, the network uses the Michelson programming language for the creation of smart contracts, which engage with the network’s cryptocurrency, Tez, for transaction execution and gas payment.

The native token of Tezos, XTZ, or Tez, serves several purposes within the ecosystem. It is used to reward participation in the creation and endorsement of new blocks, either directly or through delegation. It functions as a voting mechanism within the decentralized governance system. Finally, it is a means of value transfer and is used to pay for gas, the unit of computational effort in Tezos, which is required to execute transactions and interact with smart contracts.