What is xtz?

XTZ is the native cryptocurrency of the Tezos blockchain platform. Tezos is a decentralized blockchain that aims to provide a self-amending system, allowing for on-chain governance and the ability to upgrade the protocol without the need for hard forks. The cryptocurrency XTZ, also known as Tez or Tezzies, is used to facilitate transactions, participate in the network's proof-of-stake consensus mechanism, and engage in the governance of the Tezos protocol.
Tezos utilizes a unique consensus algorithm called Liquid Proof-of-Stake (LPoS), where token holders can participate in the block validation process and earn rewards for securing the network. Additionally, Tezos features a mechanism for on-chain governance, allowing token holders to propose and vote on protocol upgrades, making the network adaptable and self-evolving.
As with any cryptocurrency, the value of XTZ can fluctuate based on market demand and various factors affecting the broader cryptocurrency space.