What is Tezos?
Tezos is a decentralized Delegated Proof-of-Stake (DPoS) blockchain that governs itself by establishing a true digital commonwealth. It facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.
What is baking?
“Baking” is an act of signing and publishing blocks to the Tezos blockchain. Bakers are a crucial component of the (DPoS) consensus mechanism by ensuring that all the transactions in a block are correct, the order of transactions is agreed upon and no double-spending has occurred.
What is delegation?
Tezos uses a delegated proof-of-stake model (DPOS). In Tezos, delegation is permission given to a Baker to create new blocks using tokens that other stakeholders have. This is important for the consensus system to happen in Tezos network, allowing everyone to participate in evolution. Besides, delegating tokens is always the best way to protect against the inflation generated by the protocol, which is currently about 5.5% per year.
Why should I delegate?
Building a “baking” node requires tech knowledge, specific hardware and security measures. By delegating your tokens in TeZetetic you free yourself from the need of running the node on your own while having full control of your tokens.
How can I delegate?
Our delegate public key: tz1b5ppWdFzLHV2i11WcvM7bYVQbQC4K6ZVM
You need to designate TeZetetic as your delegate.
We have prepared for you a separate section with tips on how to do this: follow the link(Delegation Instructions)
Do I need to provide any documents to delegate to you?
To delegate to TeZetetic, you do not need to provide any personal data, your participation is completely anonymous. We never ask for personal information!
Can I be a Baker?
To become a Baker, you need to have at least 10,000 XTZ. And it is also necessary to maintain a dedicated server for the job. The baker also needs to have a security deposit equivalent to 8.25% of the amount of XTZ being baked, not forgetting the security and availability of the service. For some people this task can be a bit difficult. But do not worry if you can not bake your XTZ yourself, we will do it for you!
Can I lose the Tezos that I delegated?
No. When you delegate your tokens, you’re just giving the baker permission to bake them, your tokens never leave your wallet, do not worry about it.
When and how do I get paid?
Delegation rewards will be paid every cycle. For example:
Cycle 1 – You delegate to TeZetetic
Cycle 8 – The Tezos Blockchain assigns your delegation rights to us.
Cycle 14 – Rewards from cycle 8 unfrozen & received.
Cycle 15 – (within 3 days) – You’re getting paid!
What is Overdelegated?
Whenever a Baker is roasting, he must maintain a bond of 8.25% of the total XTZ he is baking. If the baker does not have the necessary amount of XTZ, the people who have delegated their XTZ will not receive their rewards correctly.