What is XTZ?
Tezos is a self-amending blockchain network and was designed to enable scalable smart contracts and decentralised applications (dApps) which are extremely secure. Tezos' on-chain governance process is unique and gives incentives to users for their participation and prevents hard forks. The mechanism allows the blockchain to a adopt and adapt new features natively on a routine basis and automatically with high stakeholder participation. Tez (XTZ) is the native cryptocurrency of Tezos. Tezos uses a variation of Proof-of-stake (PoS) consensus called liquid proof-of-stake (LPoS) to keep its network in sync. LPoS is a computer based algorithm used by users running the Tezos software to secure and maintain the network, validate transactions and distribute newly minted Tezos tokens (XTZ).