Tezos (XTZ) Jumps 26%: All About Staking (“Baking”) Process

Today the price started to rally strongly. Growth began at $ 5.08. Within 9 hours, the price rose sharply to $5.80, with a profit of 14%. It had remained stable with little volatility for 4 hours before it jumped again, this time by 13%, to $6.40. This worth is considered the highest in the last 3 days. Currently, Tezos price is $6.40 with a trading volume of $710,697,968. It has a circulating supply of 860 Million XTZ tokens. Moreover, its market cap is $5,389,132,223.

Tezos: A blockchain designed to evolveTezos is a platform for smart contracts without using Tezos mining coins. This coin promotes itself on the basic ideas of self-management and on-chain administration. This allows the community to vote and correct their shortcomings. The staking process is called “baking”, this is carried out by “bakers”. They will be rewarded for signing up and publishing blocks if they make deposits. However, if the baker will make any bad behavior, the deposit will be forfeited. Bakers need at least XTZ 8000, to qualify as a delegate, and the presence of an additional delegated stake increases their chances of being selected as a baker or the endorser.