Dropee question of the day code 10 December What is the native cryptocurrency of the Tezos blockchain?

Dropout Code Question of the Day December 10: Here is the answer to today’s Dropout Question of the Day: What is the native cryptocurrency of the Tezos blockchain? and the answer is XTZ

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QUESTION: What is the native cryptocurrency of the Tezos blockchain?

ANSWER: XTZ

The native cryptocurrency of the Tezos blockchain is XTZ, commonly known as “tez” or “tezzies”. Tezos is a decentralized blockchain platform designed to support smart contracts and decentralized applications (dApps). What sets Tezos apart is its self-amending governance mechanism, allowing the blockchain to evolve and upgrade itself without the need for a hard fork.

This feature ensures long-term adaptability and scalability. XTZ serves multiple functions in the ecosystem: it is used to pay transaction fees, participate in staking (called “baking” in Tezos terminology), and participate in governance decisions by vote on proposed protocol upgrades. By holding and staking XTZ, users contribute to ensuring network security and play an active role in shaping the future of the Tezos platform.

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