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Easy Explanation of the Tezos Cryptocurrency

- The Tezos Alphabet -


This website gives you an easy to understand overview of the Tezos cryptocurrency.
All explanations are simple to understand and short. Just hover the letters below to get the full explanation of the Tezos related terms.

Stay tuned to the Tezos Alphabet updates:


 

 

Tezos Alphanet
A - Like Alphanet
The Alphanet is basically the test network of Tezos. Within this network the functioniality of the XTZ blockhain is tested and improved.
Tezos Baking
B - Like Baking
Tezos uses a proof of stake protocol. Baking is the terminology for staking your coins. Baker validate the network and they get a reward for that.
You need at least 10,000 coins to bake on your own.
Tezos Coin
C - Like Coin
Tezos is an autonomous cryptocurrency. Tezos uses its own blockchain and is no token.
The coins are called Tez. You need Tez to use the network and for baking.
Tezos Delegation meaning
D - Like Delegation
Delegation means that you delegate the baking rights to someone else. You don't send your coins to someone. Just the baking rights are moved to the baker or delegation service.
The delegate gets the reward for baking in this case.
What is endorsing Tezos
E - Endorsement
As you may be selected to bake an entire block you can also be selected to endorse a block. Endorsing a block means that you witness that a block was valid, you don't create a block. You get a reward for endorsing. This is less than for baking.
Tezos Formal Verification
F - Formal Verification
Tezos uses formal verfication to prove the correctness of smart contracts. Developer can check if the contract is mathematically correct. This does not guarantee that the code is fully accurate, but is a good assistance in development.
Tezos Governance
G - Governance
The unique feature of Tezos is the ability of on-chain governance. Normally a blockchain has to hard fork to evolve. This means that two seperate versions exist after the split.
The Tezos blockchain can do that without splitting the chain.
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