Tezos XTZ is a smart contract and decentralized application platform. One major difference between Tezos cypto and other smart contract platforms, such as the popular Ethereum network, is that it is secured and ultimately managed by Tezos bakers. Instead of physically mining the blocks with expensive hardware, this process is done virtually on Tezos through Tezos taking and Tezos baking using a mechanism called DPOS or Delegated-Proof-of-Stake.
But Tezos crypto is more than your typical Proof-of-Stake blockchain. Tezos aims to be completely modular and upgradeable without needing hard forks. That means the Tezos blockchain can implement new changes to the network without forking, or splitting into separate chains. Watch the video to learn more.
