What is XTZ coin? What can XTZ coins do? How to store XTZ coins?

XTZ, a proof-of-stake cryptocurrency launched in 2018, enables users to participate in governance, earn rewards through staking, and develop secure smart contracts on the Tezos blockchain.

Oct 26, 2024 at 12:47 am

1. What is XTZ Coin?

XTZ (Tezos) is a proof-of-stake cryptocurrency and blockchain network launched in 2018. It is designed to be a secure, self-evolving, and inclusive blockchain platform.

2. Features of XTZ Coin:

• Proof-of-Stake: Nodes validate transactions based on the amount of XTZ they hold.
• Formal Verification: Smart contracts are formally verified to ensure they function as intended, enhancing security.
• Self-Governance: Holders can participate in governance and vote on protocol upgrades through on-chain referendums.
• Upgradability: The Tezos blockchain can be upgraded seamlessly without the need for hard forks.

3. Use Cases for XTZ Coins:

• Staking: Earn rewards by holding XTZ in a wallet that supports staking.
• Governance: Participate in on-chain governance and vote on protocol updates.
• Transaction Fees: Use XTZ to pay transaction fees on the Tezos network.
• Smart Contracts: Develop and deploy smart contracts on the Tezos blockchain using the Michelson scripting language.
• Decentralized Applications (dApps): Build and use dApps that leverage the features and security of the Tezos blockchain.

4. How to Store XTZ Coins:

XTZ coins can be stored in a variety of wallets, both software and hardware.

Software Wallets:

• Tezos Wallet (official wallet)
• Exodus
• Guarda
• Atomic Wallet

Hardware Wallets:

• Ledger Nano X
• Trezor Model T
• SafePal S1

5. Conclusion:

XTZ is a versatile cryptocurrency and blockchain platform that offers security, self-governance, and upgradability. Its use cases range from staking to governance to smart contract development. When storing XTZ coins, it is important to choose a reliable and secure wallet that supports the Tezos blockchain.