What is Tezos digital currency
What is Tezos digital currency
Tezos is a digital currency and blockchain platform that was created to provide users with an efficient, secure, and decentralized way of making payments. It is based on the proof-of-stake consensus mechanism, which allows for more efficient transaction processing than traditional mining methods used in other cryptocurrencies. Tezos also utilizes smart contracts to facilitate transactions between parties without requiring third party intermediaries or trustless systems. This makes it ideal for applications such as crowdfunding platforms, online voting systems, automated asset management services and more.
The main feature that sets Tezos apart from other digital currencies is its self-amending protocol called “on chain governance” which enables stakeholders within the network to vote on changes made to the core protocol codebase without having any downtime or disruption of service during upgrades or updates. This helps ensure that all participants are kept up-to-date with new features while allowing them greater control over how their funds are managed within the system itself. Additionally, this approach provides developers with an easy way of testing out new ideas before they go live into production networks – something not available in many other blockchains today!
In addition to its unique consensus model and governance structure , Tezos has some interesting features like token baking (similar concept as staking) where holders can earn rewards by locking up coins in order receive rewards when blocks are validated; delegated proof–of–stake (DPoS) where representatives can be elected by coin holders who will then validate transactions; atomic swaps so users don’t have worry about exchange fees when trading different tokens; zero knowledge proofs enabling anonymous transactions ;and much more . All these features make it a great choice for those looking get involved cryptocurrency space but want something different than Bitcoin Ethereum .