What is Tezos (XTZ)?

Tezos is the first open-source public blockchain that has the ability to "self-amend", or self-upgrade itself without the need for a fork. People propose amendments and whichever receives favorable votings will be implemented. Thanks to this unique feature, Tezos can easily be updated with fast speed and low cost.

How Tezos (XTZ) Works

To enable a robust governance mechanism on the blockchain based on voting, Tezos adopts the PoS consensus. Staking at least 8000 XTZ (the native governance token of Tezos) allows a person to become a node, or "baker" in the case of Tezos. Though the name is peculiar, a baker has the role and responsibility of a node, meaning they produce blocks and earn XTZ as rewards. Furthermore, bakers play an active role in deciding the development of the Tezos network through the process of governance. The weight of each baker's vote is proportional to the amount of XTZ they stake in relation to the total amount of staked XTZ.

After a certain proposal reaches a super-majority of 81% or more, it is tested for 48 hours on the testnet to see if the change is safe and beneficial to adopt. Then bakers vote again to decide if the said proposal will be officially implemented in the Tezos blockchain. In case the proposal is accepted, its integration causes no interruptions or forking to the network.

Those who hold less than 8000 XTZ can also participate in the governance process by moving their tokens to whichever baker's opinion is in line with theirs.

How Many Tezos (XTZ) Tokens Are in Circulation?

XTZ is inflationary by design, which means that the supply increases with time. At the moment, there are 911,174,149.65 XTZ tokens in circulation.

How to Buy Tezos (XTZ)

Consider investing in Tezos (XTZ)? It only takes 2 minutes to create an account on Bitget and start trading XTZ. 

Check out the available XTZ trading pairs on Bitget!

Futures market

XTZUSDT

Tezos (XTZ) Resources

Official Website

Whitepaper