Baking is the process that Tezos uses in order to append new blocks of transactions to its blockchain.
What Are Bakers?
Baking is the process that Tezos uses in order to append new blocks of transactions to its blockchain. This is a delegated-proof-of-stake system, where bakers receive rewards for each block that is baked, in a similar sense as to how Bitcoin miners end up getting rewarded for discovering new blocks.
A baker is more likely to bake a block if they have a larger number of rolls.
The accounts have to be registered as a delegate in order to partake in the baking process, and can actually bake on behalf of others who do not meet the 10,000 XTZ requirements.
Baking can be defined as the act of validating Tezos network transactions: this act of validation is called mining for proof-of-work blockchains such as Bitcoin while being called validating for proof-of-stake blockchain such as EOS.
For the efforts when it comes to validating the transactions as well as securing the networks, bakers end up earning Tez or XTZ tokens.
Tezos is a platform for smart contracts as well as decentralized applications, which are known as DApps.
DPoS is an algorithm that allows virtual mining instead of physical mining. Virtual mining is a lot more convenient as well as a lot more energy-efficient.
Baking is essentially the act of signing and publishing new blocks within the Tezos blockchain, and you need to be a qualified delegate to do so by getting 10,000 XTZ. After fulfilling this requirement, any user can become a baker or an endorser.
Bakers get a reward for their work, 16 XTZ per block.
Endorsers, on the other hand, are the people who verify the block after it has been baked, and they check if everything is done correctly. They get 2 XTZ.