Governance and validation on Tezos

Tezos uses a Liquid Proof of Stake consensus mechanism, where validators are called Bakers. In addition to validating transactions, bakers represent the staked tokens of delegators (stakers) when participating in network governance by voting on protocol upgrades. This approach ensures security, stability, and correctness, while allowing Tezos to upgrade seamlessly.

Tezos evolves using on-chain governance

Tezos has a proven, decentralized governance process that enables seamless upgrades and prevents the need for hard forks. Community members propose upgrades for the network and validators vote on which proposals they would like to see explored. The most popular proposal goes through a multi-step voting and adoption process, shown below.

Delegating on Tezos

What is delegating?

In a process called staking, owners of tez (XTZ) can delegate their tokens to a baker and receive rewards for supporting the security of the network and participating in governance. With the unique Liquid Proof of Stake mechanism on Tezos, token owners maintain control and flexibility over staked tokens because they are not locked at any point during the delegation process.

Buying Tezos tokens

Tez (XTZ) is the native token of the Tezos network. Tez is available on most major cryptocurrency exchanges under the symbol XTZ. Below are some of the most popular exchanges where you can buy tez.

Using a Tezos Wallet

Wallets offer a secure way to store and use your tokens. Click the link to explore wallets for Tezos.

Select your baker

Delegate tokens directly from a wallet using the baker’s public key address. Use the links to explore the network of bakers.