Tezos

What is Tezos (XTZ) and how does it work? Tezos is a mainnet blockchain on which developers can build decentralized applications (DApps). The Tezos blockchain has smart contract functionality and uses a variation of proof-of-stake (PoS) technology called liquid proof-of-stake (LPoS). Tez, or XTZ, is the blockchain’s native coin. 

The Tezos blockchain

The Tezos platform (the blockchain) can be updated without requiring a hard fork. The Tezos blockchain uses XTZ-based governance to determine the future of the project. 

The Tezos blockchain utilizes a consensus technology known as liquid proof-of-stake, which the project developed. Regarding Tezos staking, the Tezos blockchain uses specific terminology for how its blockchain is run. LPoS on the Tezos blockchain relies on “bakers” and “endorsers” to run the network, with both classified as validators. Bakers create the block, while endorsers determine block consensus, with each earning rewards for their input. To function as a validator, one must have a private key holding a specific amount of XTZ, called a “roll.” The amount of XTZ required for a roll can change based on network governance. The XTZ can be provided by the validator, or XTZ owners can delegate coins to others. 

LPoS is different from delegated proof-of-stake (DPoS) in validator format. DPoS blockchains typically rely only on a defined set of validators to run the chain, with the group comprising those with the most of the chain’s native coin. LPoS on Tezos puts every validator in the running for block creation, but validators with more rolls increase their odds of being chosen to create a block. Only entire rolls (with the total required amount of XTZ), not partial rolls, help increase the odds.

Tezos price today

XTZ, which the Tezos project also refers to as “tez,” is the Tezos blockchain’s asset. XTZ has multiple uses within the Tezos ecosystem, such as paying fees on-chain and governance. Wondering about Tezos price live today? Tezos itself does not have a price, but its XTZ asset does, which can be expressed in U.S. dollars (USD). The top of the page shows an XTZ to USD live price, Tezos marketcap (XTZ’s market cap) and more.