The company Tezos is a platform for decentralized applications and smart contracts. Stakeholders govern the protocol in Tezos.
It gives the opportunity to participate in the transaction’s validations on the network and getting a reward by the protocol to every stakeholder through its proof-of-stake consensus algorithm.
Tezos has the feature of self-amendment that allows Tezos to self-upgrade without splitting the network into two different blockchains. The funding mechanism of Decentralized Innovation helps in encouraging participation and decentralizing the maintenance of the network.
They also have the concept of Delegation, the process of proof-of-stake(PoS) the participant is required to pay a security deposit in the consensus process, and by Tezos protocol dishonest behavior of a participant is penalized which can cause them to lose their deposit and honest behavior is rewarded.
A person can interact with the Tezos blockchain by holding Tez that are Tezos (XTZ) tokens. The tokens can be stored in many wallets; Software Wallet, Hardware Wallets, and Command line.
Staking meaning:
Staking is similar to earning interest in a regular bank. It is the process of holding funds in a crypto wallet to keep up or support the operations of the blockchain networks and repaying the holders for their contribution by rewarding them.
Tezos’s token holders can also delegate their accounts to a validator, who will secure the network in place of the holders. Via delegation, you can participate in Tezos and earn passive income by staking
You can move your tokens freely anytime by delegating to a validator as they will make sure that there are no freezing periods and because XTZ is completely liquid.
To earn your XTZ rewards you will have to wait for at least 5 weeks which is 21 days until your XTZ is eligible to earn your first reward.
What is tezos Fundraiser?
Fundraising also known as ICO i.e., initial coin offering, is funding that uses cryptocurrencies to invest in a company that is creating new coins, app, or service launches which is comparable to stocks.
The crowdfunding for Tezos i.e.,tezos Fundraiser was launched in July 2017. This ICO raised nearly $232 million. In this contribution, 62.5% were in Bitcoin and 37.5% in ether.
Today after nearly three years the allocations have been claimed by almost 95% of the participants. Some of the people who contributed to the tezos Fundraiserhaven’t activated their Tezos and if you are one of those and have no clue on how to do it here a simple and short guide for you:
- You will need to verify your identity and for that, you need to insert your public key hash for the wallets you want to activate and be careful in never sharing these private keys with anyone.
- Next, you would receive your activation code and you can activate your account by entering your corresponding activation code and public key hash.
- After this, you can check your allocations in the Tezos public blockchain.
- You will need to create or restore/import your fundraiser wallet and you can refer to many wallets that allow you to do so.
- You can import your fundraiser allocation by following the procedure given by the wallet you use.
You can get access to all of the above on the Tezos official website.
