Tezos coin is a native cryptocurrency created on tezos Blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Tezos coin was mainly created to enable easy creation of Dapp applications on its tezos blockchain network platform. Tezos coin was also created to enable delegators to be able to lease their tezos coin to the bakers( validators) who use the leased coins to validate the transactions on the tezos network thus in return, they receive the income in form of fees charged which are shared between them and the validators. Through staking tezos coin, delegators and bakers can receive up to 7% interest per anum. The more the tezos coins being delegated to the bakers by delegators, the more the earning.
Tezos coin transaction
Tezos transaction takes place on the tezos blockchain explorer based on block height and timestamp. To view how the transaction takes place at tezos blockchain explorer, simply follow the link below;
Date Launched
Tezos was created in 2017 with the main objective of becoming a staking coin as well as allowing easy creation of Dapp applications on the tezos blockchain network.
Founder Of tezos
Tezos cryptocurrency was created by Kathleen Breitman who is a San Fransisco based blockchain technologist guy with the main objective of allowing easy creation Dapp applications on its blockchain as well as allowing users to stake their tezos coin in order to secure the tezos blockchain network thus in return they earn interest after a given period of time.
Process of creating tezos coin
Unlike cryptocurrencies like bitcoin and Ethereum which are proof-of-work thus are created through the mining process in the presence of power and internet, for tezos coin, that is not the case, instead, tezos coin was created to become a proof-of-stake coin. During its initial coin offering, 763,306,929.69 tezos coins were released to be circulating. The remaining 10,000,000,000 are the one which will be released through the staking process at an inflation rate of 5.51% per anum. In staking tezos coin, you can either choose to become a solo staker which is less rewarding or can choose to join the staking pool to increase your reward.In the staking process, there are two key players, the delegators and the bakers(validators). The delegators are the one who will delegate their tezos coin to a baker for a given period of time after which they will receive rewards from the coins released to the tezos network per year as well as they will be eligible to share the transaction costs received by the bakers. In order to become a baker, you must have atleast 8000 tezos coin to delegate. The more the coins delegated, the more the reward.If you feel that you also want to staking delegating your tezos coins so that you can start earning rewards, then you can join the staking program from below;
Here is how the staking process looks like;
Maximum circulation of tezos coin
The maximum supply of tezos coin that is expected to be circulating in the tezos blockchain Network should be 10,000,000,000. Out of this amount,763,306,929.69 tezos coin were released during its ICO stage. Every year, 42,058,211.8259 tezos coins will be released to the tezos blockchain. This represents an inflation rate of 5.51% per anum. This will continue until all the 10,000,000,000 tezos coins are being released to the tezos blockchain. This amount will be shared among the delegators and bakers of the tezos network.
tezos coin Price
Currently, 1 tezos coin is worth more than $1.1 and its price is expected to increase over the next period of time.Tezos coin is being abbreviated as XTZ.
Converting my tezos coin to other cryptocurrencies
To convert your tezos coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your tezos coin to bitcoin or Ethereum. https://www.binance.com/?ref=10776203
Storing my tezos coin
To store your tezos coin, you need a tezos coin wallet. You can either store online or offline. To store your tezos coin online you can download the wallet or can use other online wallet supporting tezos such as kukai web wallet or https://tezbox.com/ . To secure your tezos coin from being stolen by hackers, you can download cold storage wallet like the Ledger Nano.
Transferring my tezos coin to other Users
If you want to transfer your tezos coin to another user, the two of you must have trust in each other. The trust should be the tezos coin address provided for the receiver while the sender must have the tezos coin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About tezos
If you feel that you need to learn more about tezos cryptocurrency, then you can follow them on their site. Here is the link redirecting you to tezos platform website
Now that you know, I think that it is time for you to start earning some tezos cryptocurrency by staking them thus validating the transaction taking place on the tezos blockchain. The more you stake the more you earn. If you feel that I should also own some tezos coin for helping you to know about it then here is my tezos address;
ADDRESS: tz1S5ZvA9EoNg79ThESqR2gdFQKNAzvVkJQy
PUBLIC KEY: edpkv5SU1uJvhqbFHh5NMkNRmitmLXUs3DbufF9ysJKfGyLv3K1Sf8
