Telos is a relatively new blockchain protocol that addresses some of the major challenges faced by other blockchains and creates an environment that is more supportive for building Web3 applications. It aims to provide a faster, cheaper, greener, scalable, and more reliable ecosystem suitable for widespread adoption.
Telos has over 100 distinct apps running on the network across various use-cases, including DeFi, Gaming, Social Media, Lifestyle, and many more. Some of the applications include Qudo, Qubiclues, Wordproof, Seeds, Appics, and many more.
On the Telos network, developers can build fast and scalable applications and deploy them on the Telos EVM mainnet. The Telos EVM functions similarly to Ethereum, except that it processes transactions quicker, costs 1/100th of Ethereum’s gas fees, and has a larger capacity. It also supports the EOSIO software for smart contract deployment, which is about 17,000 times more efficient than other networks.
The native token of the network is called Telos (TLOS) and it is listed on several exchanges due to its growing demand.
Who Are the Founders of Telos (TLOS)?
Justin Giudici is the co-founder and CEO of Telos. He is also a former CEO of Infinitybloc and has spent years promoting and contributing to DLT technology. His specialty is in EOSIO infrastructure, network promotion, product design, and software development.
Paul Walton is the chief marketing officer of Telos. He is an entrepreneur in FinTech, an investment strategist, and a fund manager. He has worked in 15 software enterprises and has gained experience by holding key positions in these organizations.
What is Telos (TLOS) used for?
Telos provides a platform for developers to build fast and scalable blockchain apps. It uses the EOSIO architecture for the creation of decentralized applications, which also supports the deployment of smart contracts using Solidity, implying that Ethereum-based dApps could also be ported to Telos.
The Telos native token can also be used for many purposes, including:
Users can stake their TLOS tokens to receive staking rewards and incentives.
With a sophisticated built-in governance model, users can vote on various matters such as system upgrades, protocol changes, and network issues on the network by staking their TLOS tokens. If the majority vote is reached and consensus has been achieved, then all other users of the network need to follow along with whatever was voted upon.
Users can provide liquidity to the AMM Swap Pool or exchange and receive rewards.
What Is the Unique Point of Telos (TLOS)?
Telos has been able to develop and implement reliable and efficient blockchain technology. It allows developers and users to have enough resources to build decentralized applications without any obstacles.
It also provides a low-cost and secure platform for the development of dApps. Because of the use of EOSIO design, it also supports an ecologically friendly ecosystem.
Telos employs the delegated proof-of-stake consensus mechanism, which enhances performance for developers by providing the following features:
- Transactional speed and accountability.
- Enhanced scalability.
- Lower energy consumption compared to traditional proof-of-work models.
- No transaction fees.
Furthermore, Telos has established collaborations with SushiSwap and AnySwap, allowing users in each ecosystem to benefit from the speed and efficiency of the Telos EVM.
How Many Telos (TLOS) Coins Are in Circulation?
Telos has a circulating supply of 270,123,443.84 TLOS tokens, which is 76% of the total supply. The total supply is estimated at 355,208,371 TLOS.
How is the Telos Network Secured?
The TLOS network is secured by a combination of the Delegated Proof-of-Stake (DPoS) consensus mechanism and the EOSIO software.
The TLOS network uses a delegated proof-of-stake consensus mechanism for all decisions, including voting for supernodes, giving out block rewards, and forming committees to resolve disputes.
How do I buy Telos (TLOS) Coins?
Telos is listed on the top cryptocurrency exchange platforms such as Huobi Global, KuCoin, MEXC, Budget, and Gate.io at the current rate. On these platforms, you can either swap it with BTC, ETH, or other stablecoin pairs.
Which Cryptocurrency Wallet Support Telos (TLOS)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Telos (TLOS). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their TLOS wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.