Glossary > Tezos

Tezos

What is Tezos?

Tezos is a decentralized, open-source blockchain created in 2018. The native cryptocurrency of Tezos is Tez (XTZ).

Tezos can execute peer-to-peer (P2P) transfers of cryptocurrency and deploy smart contracts. The blockchain relies on a proof-of-stake consensus. More recently, users used the Tezos blockchain to create NFTs.

What is different in Tezos is that stakeholders can participate in blockchain governance. It encourages users to take part in the development of the network and supports decentralization.