Bakers

Who Are Bakers?

Bakers are individuals who participate in the baking process of the Tezos blockchain. Baking refers to the method used by Tezos to add new blocks of transactions to its blockchain. Similar to Bitcoin miners, bakers are rewarded for baking blocks in this delegated-proof-of-stake system.

The chances of a baker baking a block are higher if they have a larger number of rolls.

To take part in the baking process, accounts must be registered as delegates. Bakers also have the option to bake on behalf of others who do not meet the 10,000 XTZ requirements.

Baking can be defined as the act of validating transactions on the Tezos network. This validation process is called mining in proof-of-work blockchains like Bitcoin, while it is referred to as validating in proof-of-stake blockchains like EOS.

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).

DPoS is an algorithm that enables virtual mining instead of physical mining, making it more convenient and energy-efficient.

Baking involves signing and publishing new blocks within the Tezos blockchain. To become a baker or an endorser, one must be a qualified delegate and possess 10,000 XTZ. Bakers receive a reward of 16 XTZ per block, while endorsers verify the baked blocks and receive 2 XTZ.