Understanding Bakers in Tezos
In the Tezos blockchain, bakers play a crucial role in appending new blocks of transactions.
Tezos utilizes a delegated-proof-of-stake system, where bakers are rewarded for baking new blocks, similar to how Bitcoin miners receive rewards for discovering blocks.
Bakers have a higher likelihood of baking a block if they possess a more significant number of rolls.
A roll represents a specific amount of Tezos tokens (XTZ) a baker holds.
To participate in the baking process, accounts must be registered as delegates.
Validating Transactions and Earning XTZ Tokens
Baking in Tezos refers to the act of validating transactions on the network.
While proof-of-work blockchains like Bitcoin refer to this validation process as mining, in proof-of-stake blockchains like Tezos, it is referred to as validating.
Bakers earn Tez or XTZ tokens for their efforts in validating transactions and securing the network.
Tezos is a platform that supports smart contracts and decentralized applications (DApps).
Delegated-proof-of-stake (DPoS) is an algorithm that allows for virtual mining instead of physical mining, making it more convenient and energy-efficient.