Tezos to Host Community Call on September 30th
Tezos is holding its 11th Town Hall on September 30 at 16:00 UTC to present the Seoul protocol upgrade. The session will focus on how the upgrade makes Tezos faster, safer, and simpler. The event will feature speakers from Nomadic Labs and Tezos Commons, with live streaming available on YouTube and X. Refer to the official tweet by XTZ: 🏛ï¸ Tezos Town Hall #11: Seoul Protocol UpgradeDiscover how Seoul makes Tezos: faster, safer, simpler.🗓ï¸ Sep 30🕕 18:00 CEST | 12:00 EST🎙ï¸ Guests: hosted by 📍 and 𝕏 XTZ InfoTezos is a distinctive blockchain platform architected to facilitate and govern decentralized applications (dApps) and smart contracts. Its foundation is built on a decentralized governance system that enables blockchain modifications through a community-led decision-making process.Operating on a unique iteration of Proof of Stake (PoS) mechanism known as Liquid Proof of Stake (LPoS), Tezos allows participants owning more than 6,000 Tez (XTZ) to become delegates, or “bakers”. These bakers are responsible for creating, signing, and publishing new blocks on the Tezos blockchain, and endorsing blocks produced by other bakers. Furthermore, the network utilizes the Michelson programming language for the creation of smart contracts, which engage with the network’s cryptocurrency, Tez, for transaction execution and gas payment.The native token of Tezos, XTZ, or Tez, plays a multifaceted role within the ecosystem. It serves as a reward for participation in the creation and endorsement of new blocks, either directly or through delegation. It functions as a voting mechanism within the decentralized governance system. Additionally, it is a means of value transfer and is used to pay for gas, the unit of computational effort in Tezos, necessary for executing transactions and interacting with smart contracts.