Blockchain

How does Tezos work?

Tezos is unlike any other cryptocurrency on the market for a multitude of reasons. It makes use of a Liquid proof-of-stake consensus process, for starters. A Network Shell, an agonistic native-middleware, is also included in the platform. Developers can use modules during the development of apps thanks to this method.

Tezos is a bilingual system, which means it can communicate in both Imperative and Functional modes. In terms of flexibility, imperative languages like Solidity are perfect for smart contract programming. Functional languages, on the other hand, are better at mathematical reasoning, making them more secure.

The combination is used by Tezos to ensure that its smart contracts are both strong and secure. The Tezos ecosystem, for example, uses Ocaml for blockchain programming and Michelson for smart contract coding. This method also enhances the network's transaction speeds.

XTZ now has a transaction rate of roughly 1000 transactions per second (tps). The restriction is based on the maximum amount of gas that can be used per transaction. This rate may rise in the future as a result of voting on protocol improvements such off-chain scaling solutions.

What is Liquid Proof of Stake?

The Liquid Proof-of-Stake consensus mechanism is an improvement on the Delegated Proof-of-Stake methods used in third-generation blockchains like as EOS and NEO. The community votes on who will act as a delegated node in a DPoS.

Delegated nodes are responsible for approving blocks and adding transactions to the blockchain. They also have a few additional rights and obligations in the network. Importantly, the number of delegators permitted is determined by the minimum bond size limit. This number currently permits for roughly 70,000 delegators.

At this time, the LPoS mechanism is only available on Tezos. Tezos' LPoS has proven to be a huge success. The network currently has an approximate stake rate of 80% split across 450 validators and 13,000 delegators. As a result, Tezos is one of the most decentralized blockchains available.

Website

Visit the official cryptocurrency website. It contains detailed valuable information about the coin and the project. You'll also find answers to frequently asked questions, various support and training tools, or interesting news and articles.

WhitePaper

WhitePaper is a basic informative document that contains a detailed description of a crypto project, its purpose, the idea of its creation, technical specifications, statistics, diagrams, roadmap, and other important facts, including information about the coin and its use and future potential. It is usually created by the founders or developers of a crypto project.