Telos Presents the Fastest Scalable Decentralised Finance
On May 16, 2021, Telos announced the most awaited news for its community. The native token of this network, called $TLOS, is now available on the people’s exchange, KuCoin. The supported negotiation pairs are TLOS/USDT and TLOS/BTC.
By any chance, for my readers who are not yet familiar with this network, who claim to have fast scalable decentralised finance, allow me to share my research after an intensive study.
What is Telos?
Telos is a massively-scalable smart-contract platform built with real-world-ready speed and performance. It was made to act as a shadow network based on the same EOSIO code that aims to solve the key problems of Eos. Later on, I will gradually present the problems this network is trying to solve. However, it is a fresh formula in the blockchain community as Telos aims to be a cost-effective, highly reliable network where users can join for free and developers can afford to deploy their DApps on.
There are a bunch of benefits for different sectors in the community — which include the developers, blockchain producers and token holders. I honestly got these directly from their own whitepaper. It is a big plus for me to indicate these benefits and advantages on the network’s paper or in the frequently asked questions (FAQs), to catch the interest of the public.
The network exists to provide a reliable, affordable, well managed network for developers to release DApps. The key feature called Proprietary DApps Allowed, will not force developers to open source their code. It also has the lower cost of DApp development, where the network will manage RAM requirements in a way that scales the actual usage.
Developers must take note of this, Telos uses a network block producer system that swaps all standbys into blockchain production on a daily basis to prove that all are capable of producing blocks. Aside from that, Telos offers additional value to developers through features like lower DApp deployment costs and ability to deploy proprietary code.
On the other hand, Telos members have a much more equal say in the governance of the network than Eos members. There are no whales in Telos and token holders will have a meaningful vote within the network.
Just in case you lost your token, Telos Foundation and ABPs will provide a smart contract to allow any EOS holders who had tokens stolen to prove their ownership prior to Telos mainnet launch. In this way, they can get back the lost tokens.
Most importantly, it acts fair for both developers and normal members. It encourages the Telos members to become more active on voting so they can be more educated about blockchain. To sum things up, the intent of Telos is to become a perpetual grant-funding organization with different voters than the blockchain producers.
It is early to say that there are only a few blockchains that can match Telos capabilities, but upon researching, this is something worth knowing.
What are the other features of Telos?
According to their website, they have the most advanced contract network because of the following features:
- Flexible & User-Friendly Fee Models — Two cost models — With option for projects to cover user fees
- Fast — 10,000+ Transactions Per Second — Telos processes thousands of transactions per seconds and extends to do even more.
- Evolutionary Governance — Using Telos’ Decide Governance Engine Telos and apps deploying on it can evolve utilizing popular voting methods.
- No Front Running — Telos’ validator nodes process transactions in the order they are received leaving no nasty surprises.
- Human Friendly Names — Unique easy to remember human readable names for everyone
- BTC & ETH Scaling — Peg tokens like BTC, ETH and USDT onto Telos for fast, fee-less user transactions. Scale Ethereum DeFi with Telos EVM
What is $TLOS?
There is limited data regarding the native token. Thus, TLOS token provides an open access to the network’s leading on-chain governance mechanism. As stated above, it is the reason behind the 10,000+ transactions-per-second capacity (via 0.5s blocks) and an ever growing list of ancillary-services and marketplaces.
As of the time of writing, it has a circulating supply of 211,370,702 and market cap of $37,696,167.00. The price of one $TLOS is $0.279884 USD, and a total supply of 355,208,370.00 $TLOS.
Where can I buy $TLOS?
$TLOS is available here.
KuCoin has a highly trained research department that looks for top-quality projects throughout the crypto industry. The exchange has over 6 million registered users across 207 countries and regions around the world with 450+ trading pairs to date. KuCoin provides a highly secure and easy-to-use platform for users to engage in cryptocurrency trades and transactions efficiently and safely.
KuCoin also launched a series of other products in the past year designed to further help out crypto users, including futures markets, public chain, one-stop exchange solution, creating a platform for how your crypto can yield interest, as well as some upgrades to the main exchange to uphold its principle of security and transparency. KuCoin since its inception has insisted on taking the tech as its backbone to build a better trader relationship while constantly pushing for the sustainable development of the digital currency trading ecosystem as the ultimate goal.
