Tezos is an innovative blockchain network synonymous with its native digital token, Tez (XTZ), commonly referred to as
Related Terms: Ethereum, Bitcoin, staking, initial coin offering (ICO), distributed ledger.
References
- CoinMarketCap. “Today’s Cryptocurrency Prices by Market Cap”.
- TEDx San Francisco. “Arthur Breitman”.
- Tezos. “Tezos — A Self-Amending Crypto-Ledger”.
- OpenTezos. “Tezos Basics”.
- Decrypt. “The 10 Biggest ICOs: Here’s Where the Money Went”.
- Tezos Foundation. “Tezos Foundation Biannual Update”, Page 10.
- U.S. Securities and Exchange Commission. “Spotlight on Initial Coin Offerings (ICOs)”.
- CoinDesk. “Tezos Board Reshuffled As Johann Gevers Steps Down”.
- Wired. “Inside the Crypto World’s Biggest Scandal”.
- CoinDesk. “Surprise KYC: Investors in Tezos’ Troubled ICO Might Finally Be Fed Up”.
- CoinTelegraph. “The History of Tezos: The Infamous ICO Trying to Rebound Amidst Lawsuits and Disputes”.
- Courthouse News Service. “Tezos Cryptocurrency Founders Settle With Investors for $25 Million”.
- Tether. “Tether Tokens (USDT) to Launch on Tezos”.
- Reuters. “Backroom Battle Imperils $230 million Cryptocurrency Venture”.
- OpenTezos. “Become a Baker or a Delegator”.
- OpenTezos. “How Baking Works”.
- Cryptopedia. “Tezos (XTZ): Superior Governance and Use Cases”.
- Tezos Foundation. “Tezos Foundation FAQ”.
- Tezos. “What’s Tezos?”
- XTZ News. “Tezos Technology Used in Digital Euro Model Experiments”.
- Banque de France. “Digital Euro Experiment Combined Feasibility – Tiered Model”, Page 6-7.
- One Of. “About”.
Get ready to put your knowledge to the test with this intriguing quiz!
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## What is Tezos primarily known for in the cryptocurrency space?
- [ ] A physical commodity exchange
- [x] A blockchain platform supporting smart contracts and decentralized applications
- [ ] A centralized digital currency
- [ ] A financial trading platform
## In what form are transactions conducted on the Tezos network?
- [ ] Bitcoin (BTC)
- [ ] Ethereum (ETH)
- [x] Tezos (XTZ)
- [ ] Ripple (XRP)
## What is a key feature of Tezos that distinguishes it from many other blockchain platforms?
- [ ] Lack of smart contract functionality
- [ ] Fixed governance structures
- [ ] Absence of an upgrade mechanism
- [x] Self-amendment and on-chain governance
## How does Tezos facilitate decentralized decision-making?
- [ ] By following a central authority's directions
- [x] Through a community voting mechanism for protocol upgrades
- [ ] By ignoring any external inputs
- [ ] By a fixed rule without the possibility for change
## What is "staking" in the context of Tezos?
- [ ] Trading Tezos (XTZ) on centralized exchanges
- [ ] Spending Tezos (XTZ) for goods and services
- [x] Participating in the network by validating transactions and earning rewards
- [ ] Cashing out Tezos to fiat currency frequently
## Which of the following concepts does Tezos use to maintain network security?
- [ ] Proof of Work (PoW)
- [ ] Shadow mining
- [x] Proof of Stake (PoS)
- [ ] Pallet consensus
## What is the native token of the Tezos blockchain called?
- [ ] Tether (USDT)
- [ ] Stellar (XLM)
- [ ] Cardano (ADA)
- [x] Tezos (XTZ)
## How does Tezos ensure its protocol can evolve over time?
- [ ] By relying on external developers constantly
- [x] Via a self-amending blockchain that allows upgrades through an on-chain governance mechanism
- [ ] Using hard forks initiated manually
- [ ] Through yearly centralized updates by core developers
## Why do developers choose Tezos for creating decentralized applications (dApps)?
- [ ] Its high cost of transactions
- [ ] Limited smart contract capabilities
- [ ] Slow transaction speed
- [x] Self-amendment feature and strong security guarantees
## What is "baking" in the context of Tezos?
- [ ] A process to mint new physical currency
- [ ] Manual verification of trades
- [x] The term used for mining, or validating blocks and adding them to the Tezos blockchain
- [ ] A term for decentralized app development
