Tezos baker node
How does Blockchain Xdev participates to grow Tezos ?
In Blockchain Xdev we are greatly committed to expanding the use of blockchain technology to everyone in several ways. Today, we choose to be Bakers by running a Tezos baker node, to collaborate on the expansion of one of the top favourite blockchains in France.
In Blockchain Xdev we believe each use-case has a best suited blockchain technology, and we have come to find out that Tezos is, more often than not, the best option to deploy blockchain based solutions.
Tezos is unique thanks to it's:
Self-Amendment & Upgradability
Tezos accelerates innovation and reduces the likelihood of contentious splits due to its capacity to upgrade itself through an in-protocol amendment process. In this way it provides a strong assurance that the protocol will operate smoothly long into the future.
Tezos nodes provide the computational resources necessary to maintain the availability & integrity of the Tezos network. Tezos’ proof-of-stake based mechanism (baking) allows any stakeholder to participate in this consensus by delegating their coins to earn rewards. This consensus mechanism makes of Tezos one of the top blockchain technologies with less energy consumption.
Smart Contract Security & Formal Verification
Tezos and its smart contract language, Michelson, allow for formal verification, meaning that they can be mathematically tested for correct functioning. This is especially relevant when working with sensitive applications.
Tezos is an open-source, community-governed, blockchain network capable of running complex smart contracts for asset settlement and decentralized applications (dApps) which benefit from censorship resistance, decentralization, and user-control.
What is baking?
“Baking” is the act of signing and publishing blocks to the Tezos blockchain. Bakers are a crucial component of the Proof-of-Stake consensus mechanism by ensuring that all transactions in a block are correct, that the order of transactions is agreed upon, and that no double-spending has occurred.
To bake blocks, a baker needs to participate in Proof-of-Stake, which requires a minimum of 8,000 XTZ (1 roll).
What is delegating?
Tezos coin holders may delegate their coins to a baker (aka « delegate »). Like this giving the baker a higher probability of being selected to bake and endorse blocks. In practice, bakers usually share the additional revenue generated from the delegated tokens with the coin holder. Importantly, this process does not actually transfer ownership of coins ensuring that bakers cannot appropriate the delegators’ funds.
We want to thank https://wiki.tezosagora.org/ for their qualitative open source content, from which we have drawn content and inspiration.