what is the native cryptocurrency of the tezos blockchain?
What is the native cryptocurrency of the tezos blockchain?
Answer: The native cryptocurrency of the Tezos blockchain is Tez (XTZ). Sometimes informally called “Tezzies,” Tez is used to pay transaction fees, participate in on-chain governance, and secure the network through a process called “baking.” Here are some key points:
- Symbol: XTZ
- Blockchain: Tezos
- Consensus Method: Liquid Proof of Stake (LPoS)
- Roles: Staking (baking), transaction fees, governance voting
- Launch Year: 2018
Below is a concise table summarizing the main information:
| Attribute | Details |
|---|---|
| Name | Tez |
| Ticker Symbol | XTZ |
| Blockchain | Tezos |
| Consensus Mechanism | Liquid Proof of Stake (LPoS) |
| Primary Use | Transaction fees, governance, staking |