Tezos Blockchain and Sweet NFTs

Fast, scalable, and eco-friendly, the Tezos blockchain is regularly leveraged by Sweet in minting digital collectibles.

Jonathan L avatar
Written by Jonathan L
Updated over a week ago

Blockchains are the technology on which NFTs (non-fungible tokens) are minted. It is their innate ability to store transaction and ownership information that gives these digital collectibles life and enables the desire that we have to collect them. One of the key blockchains on which Sweet relies for minting of NFTs is the Tezos blockchain.

Released in 2018, Tezos is an open-source proof of stake (PoS) blockchain–with its own native cryptocurrency called Tez– whose token standard is called FA2. One of the things that makes Tezos unique is that it describes itself as being a self-amending chain--a blockchain that is "designed to evolve."

FA2 can support a variety of token types, including fungible, non-fungible, and multi-asset contracts. This standard describes the structure for how Sweet builds the digital collectibles minted on the Tezos blockchain.

As a Proof of Stake network, it is fast and scalable, highly eco-friendly, with very small transaction fees. Tezos emphasizes its eco-friendliness, as it uses two million times less electricity than Ethereum and less than 1 XTZ to mint an NFT. The blockchain is capable of facilitating up to 40 transactions per second (TPS), for less than a penny per transaction.

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