FOR TEZOS BAKING
multiply your coins
What is Tezos?
Tezos is a blockchain that can evolve by upgrading itself. Stakeholders vote on amendments to the protocol, including amendments to the voting procedure itself, to reach social consensus on proposals. Tezos supports smart contracts and offers a platform to build decentralized applications.
How to mining Tezos?
Mining Tezos in the usual sense of this word is impossible, coins XTZ are emitted by baking delegates. Users who do not wish to participate directly in the consensus protocol have the option to delegate their rights to other users to participate on their behalf. You can delegate any number of coins.
Can I bake Tezos myself?
Anyone can become a baker, but for this it is necessary to have a minimum of 10 000 XTZ as a guarantee deposit
What is baking?
Baking is the act of signing and publishing blocks to the Tezos blockchain. Bakers are a crucial component of the PoS consensus mechanism by ensuring that all transactions in a block are correct, that the order of transactions is agreed upon, and that no double-spending has occurred.
What is the consensus of the Tezos algorithm?
In the TEZOS consensus algorithm — Proof of Stake (proof of ownership). Unlike Proof of Work (PoW), expensive equipment for mining is not required. In PoS, a security deposit is required to participate in the consensus process. As in proof-of-work, the consensus protocol relies on an honest majority for its security which is incentivized directly by the Tezos protocol by penalizing dishonest behavior and rewarding honest behavior. If a participant behaves dishonestly, they can lose their deposit. Users who do not wish to participate directly in the consensus protocol have the option to delegate their rights to other users to participate on their behalf.
When is the payment?
Your coins begin to work after 7 cycles after you have committed a delegation delegation of XTZ to our service. We make payments every 2 cycles (every odd cycle 37, 39, 41, etc.). Thus, the first payment will be made in 9 or 10 cycles.
Payments are made to the same address (type KT1 ..) from which the coins were delegated
What is the maximum amount of coins we can accept?
Since we are limited by the balance on our account, the total amount of coins that we can delegate, taking into account all delegates, is 200 000 XTZ.
Delegate’s share in excess of 200 000 XTZ will not be paid