Tezos is an open-source platform for assets and applications that can evolve by upgrading itself. Stakeholders govern upgrades to the core protocol through community driven on-chain governance, including upgrades to the amendment process itself, making it a self-amending blockchain. Tezos uses a proof-of-stake (PoS) staking consensus mechanism (known as ‘baking’ in Tezos).
*Stated Annual Percentage Reward (APR) is estimated based on reported network data. APR stated is not guaranteed and may fluctuate overtime. The lock-up period, payout frequency, and minimum tokens needed are all set by the blockchain protocol.
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What is Tezos (XTZ), and what is it used for?
XTZ is used for maintaining and executing transactions on Tezos’ Proof-of-Stake network. Additionally, XTZ is used for sending, staking, and voting on upgrades. Tezos was founded by a husband and wife team after pseudo-anonymously publishing two white papers that proposed a new type of blockchain.
What are Tezos staking rewards?
Staking rewards in the form of native blockchain tokens (XTZ) are distributed to validators for locking up their cryptocurrencies to a blockchain network to support validator node’s participation in the consensus mechanism and securing the network for a period of time. Refer to the data above for the latest Tezos staking reward figures.
What are the costs of staking Tezos?
StakeSeeker charges a small percentage-based fee (stated above) allocated towards the administerial 24/7 maintenance and monitoring of our staking infrastructure required to operate our validators effectively and securely. The rewards distributed to our community will be a net of the validator fee charged.
Is staking Tezos secure?
When XTZ is staked, it’s actually being delegated to a validator. In our case, StakeSeeker provides the ministerial role of validating. Similar to staking tokens on any other protocol, staking XTZ comes with certain risks. If any downtime is experienced, or if a validator misses another part of the necessary requirements, then a percentage of the staked XTZ can be lost as a penalty (known as “slashing”). StakeSeeker monitors its nodes 24/7 and has an excellent track record that minimizes these risks.
What are the current use cases of Tezos?
Financial applications used for managing large data sets are one of the most common use cases for Tezos. That would include large data sets across electric vehicles, real estate, and cloud-based storage.
How long does it take to unstake Tezos?
Tezos does not have an unbonding period. Unstaking your tokens is instant.
What is the minimum amount of Tezos to stake?
You can stake as little as 1 XTZ, but remember to keep some XTZ token unstaked in your wallet to pay for any potential future transaction fees.
What are the risks of staking Tezos?
Like many blockchain protocols, the consensus mechanism used by Tezos includes a slashing mechanism whereby any validator that misses too many blocks or double signs a block is penalized by the network, slashing the staked amount on that validator. StakeSeeker is run by Nasdaq listed BTCS Inc. which has its own tokens staked on the same validator nodes, so we are highly incentivized to minimize these risks and maximize our staking reward. However, delegators should be cognizant of these risks.
How do I get started staking Tezos?
To begin staking Tezos, click the “Start Staking” button at the top right, create an account with StakeSeeker and gain access to the platform’s crypto portfolio insights. Then, you can begin staking with our validator nodes by delegating your tokens. Within the platform, there are instructions and tutorials on how to link your crypto exchange accounts and digital wallets and how to navigate the platform’s tools. You can view our supported blockchain networks for staking on our homepage.
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