# What is Tezos?

Tezos is the underlying blockchain platform that runs the objkt.com (and many other) smart contracts. It's an open-source project, [hosted on GitLab](https://gitlab.com/tezos/tezos) and is governed by stakeholders who vote on core protocol upgrades.

### Proof of Stake (PoS)

Tezos uses a Liquid Proof of Stake algorithm to reach consensus offering high security, decentralization and energy efficiency. You can learn more about the PoS algorithm on the official [Tezos Proof of Stake guide](https://tezos.com/proof-of-stake/).

### On-Chain Governance

Validators (see Proof of Stake) are called Bakers. In addition to validating transactions, bakers represent the staked tokens of delegators (stakers) when participating in network governance by voting on protocol upgrades. This approach ensures security, stability, and correctness while allowing Tezos to upgrade seamlessly. You can learn more about the governance on the official [Governance and validation on Tezos](https://tezos.com/governance/) guide.

### Buying tez (XTZ)

The easiest way to buy XTZ is through a centralised exchange such as [Binance](https://binance.com) or [Coinbase](https://coinbase.com). On these exchanges, you can purchase Tezos with your Credit Card or through a bank transfer. You can read more about how to get tez on the [official Tezos How to get tez guide](https://tezos.com/tez/).

Once you have purchased your XTZ, you can proceed with withdrawing it to your wallet. You will find your wallet address within your wallet application. Your wallet address will look something like this: `tz1sDfdpZH0H4kvVuQuTv7iMps9F7TqS2HL8`. Once you initiate your withdrawal it may take some time until the withdrawn amount is reflected in your wallet application balance.


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