Telos is a third-generation blockchain platform for building fast, scalable distributed applications with feeless transactions.
Since launching its mainnet in December 2018, the Telos network has been developed to power the economies of the future and provide human-scale solutions to global challenges. With these goals in mind, it includes innovative governance features that empower organizations to shift influence and decision-making to a more collaborative and transparent model.
Telos is the ideal network for real world use across multiple industries – Telos based Tokens NFT’s and Smart Contracts are already used for DeFi, Gaming, Social Media amongst a backdrop of almost unlimited real world use cases. There are over 100 projects already building on Telos.
The Telos ecosystem has been paving the way to Web 3.0 ever since the mainnet went live in 2018. Launching with no ICO or VC funding has allowed the network to grow in a truly decentralized fashion. Telos’ strong governance structure, complimented by a suite of powerful Telos Decide tools, empowers token holders. Telos is an open network, where everyone has an equal opportunity to contribute and impact to the direction of the chain.
Telos is home to more than 30 core developers, over 50 validator teams, dozens of innovative products, complemented by 100s of active community contributors. The broader Telos community includes more than 900,000 user accounts on the network, over 6,000 followers on our Telegram groups and other social channels, and over 150 companies from over 180 countries,
Developers are working to build over 100 distributed applications on Telos as of early 2021, including the music rights-trading platform Zeptagram, gaming platform QUDO, Social media platform Appics, decentralized storage solution dStor and the payments system Sesacash. A full list of dApps on Telos is available here.
The Telos ecosystem is growing at an exponential rate and has quickly amassed a slew of innovative features that give it a competitive edge over other platforms. It can be used as a full stack alternative or as a scaling solution depending on a projects needs.
Some of the many Telos advantages include...
10,000 Transactions Per Second, Pre-Sharding
Low-cost dApp deployment.
Proper economic decentralization
Public testnet operated by BPs.
Support for both Solidity EVM & EOSIO C++
The telos based economy has boomed over the last 2 years, there are over 100 projects building on the network and already over 900,000 user accounts, this is driving higher utility demand for the native token in a number of ways, an effect that should only increase in the future. Get a quick introduction to TLOS tokenomics below or learn more about TLOS Tokenomics here.
RAM - Contract Storage
Premium Name Space Bids
Work System Voting
Network Admendment Voting
Exchange / AMM Swap Pool Liqudity
Emerging form of paymentStaker Rewards
To the extent that performance is always a priority for developers, the Delegated Proof of Stake consensus method utilized by Telos is worth particular attention here. DPoS carries some big pluses for developers, including:
Telos has 21 “active” validators that are voted in by Telos token holders and are charged with maintaining the network. Other validators are called “stand-by” validators and are paid to serve as a back-up to the top 21. Any of the standby validators can be voted into the top 21 at any time by Telos token holders with elections taking place roughly every 2.5 minutes. Conversely, the top 21 can be voted out of the top 21 at any time as well. Telos has standby validators automatically rotated into the top 21 periodically to give their operation a chance to produce blocks and prove their readiness.
The additional validator accountability on the telos blockchain measures include:
On proof-of-work (PoW) chains, such as Ethereum, users must pay a transaction or “gas” fee for every action on the network. So, for example, if a user was to ‘like’ or ‘share’ a post on a dApp which was built on a POW network, a ‘gas fee’ would charge for that single action on the blockchain to the user. With the internet offering free access to many resources, this gas fee hinders widespread adoption. This is because users are used to using centralized applications which usually do not charge users for doing basic tasks or transactions.
The Telos Blockchain Network solves this problem for dApp developers by allowing applications to stake resources (in this case, TLOS) for their users. Thus, an application can purchase or rent the amount of TLOS that their users need and remove the burden of transactional fees from their particular application. This allows for a free and frictionless experience for the application users. If application developers do not want to stake resources for their users, users can stake resources themselves. This allows them to use applications without a per-use cost. No transaction fees – coupled with fast transaction speeds – mean that users will not even know they are using an application built on top of a blockchain.
Delegated proof of stake allows Telos superior scalability when compared to traditional proof-of-work networks. Currently, the Telos blockchain can process over 10,000 transactions per second, and that capacity grows with code updates, sidechains, and other growth mechanisms. This kind of transactional speed puts Telos on par with centralized entities such as Visa and Mastercard and their ability to process thousands of transactions.
One of the consequences of such speed and scalability on telos has been rapid adoption and usage, resulting in telos being the 2nd most utilized blockchain in the world throughout most of 2019 and 2020.
#1 Low impact energy usage compared to traditional POW models
The EOSIO software, that the Telos Network is based on, is roughly 17,000 times more energy efficient than networks such as Ethereum. Proof-of-work models are time-intensive and require excessive amounts of computing power to solve complex puzzles. This allows these computers to “mine” the coins on the network that pays them. In POW the node operators are competing against one another to be the first to solve a complex puzzle with their reward being the newly minted token.
In contrast, the Telos Blockchain Network just requires the coordination of validators using the same software to verify transactions. The Telos token holders elect the node operators, with the top 50 dividing the rewards. The tokens are sold on participating exchanges, allowing anyone to own the TLOS tokens and stake them for resources. This system makes the mining process virtual. Since no real-world resources are being exploited and energy is not being wasted on massive server farms needed to solve the complex puzzles, this method is infinitely more environmentally friendly.
There is a shift happening in the leadership paradigm of the internet. Users and developers want a more collaborative decision-making model that empowers everyone, rather than just a select few.
Telos is designed to help bring about this change and allow humanity to flourish by building the economy of the future. Over time, the vibrant Telos community is building its network as a place for purpose-driven startups, individual developers, and more. Join us!