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Welcome to MAXBIT support

Tezos (XTZ)

Maxbit Support
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What is Tezos (XTZ)?

Tezos (XTZ).png

  1. Native Blockchain:
    • Tezos operates on its own native blockchain. Tezos is unique due to its on-chain governance mechanism, which allows protocol upgrades without needing to fork the network.
  2. Consensus Protocol:
    • Tezos utilizes a Delegated Proof-of-Stake (DPoS) consensus mechanism. In the context of Tezos, it's often referred to as "Liquid Proof-of-Stake" (LPoS) because holders can participate in validation directly or delegate their validation rights.
  3. Trilemma (Security, Speed, Scalability):
    • Security: The Tezos protocol is designed with a focus on formal verification, which can ensure the correctness of code, enhancing its security.
    • Speed: Tezos' block time is roughly one minute, allowing for moderate transaction speed.
    • Scalability: As with other blockchains, scalability is an area of continuous development. Tezos' on-chain governance allows it to adopt improvements without divisive hard forks.
  4. Founder / Date Founded:
    • Tezos was founded by Arthur Breitman and Kathleen Breitman. The project's initial coin offering (ICO) was conducted in 2017.
  5. Objective / Use Case:
    • Tezos aims to provide a blockchain that can evolve by upgrading itself, with stakeholders governing changes. This avoids hard forks and promotes long-term upgradability and security.
  6. Total supply / Limit or Unlimited:
    • The initial supply of XTZ was 763 million. Tezos includes a built-in inflation mechanism, primarily to incentivize network participation and security. The protocol can be adjusted via its governance process, including parameters like inflation.
  7. Supply Deflation:
    • Tezos doesn't have a built-in deflationary mechanism. However, its annual inflation rate (around 5% as of last data) is meant to reward those who participate in the network's staking and validation processes.

         This summary should give beginners a good introduction to Tezos and its place in the cryptocurrency landscape. As always, given the fast-paced nature of the crypto world, continuous learning and staying updated with recent developments is crucial.

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