What Is Telos (TLOS)?
Telos (TLOS) is an innovative, scalable Ethereum Virtual Machine for Web3. Telos is a feeless third-generation blockchain platform for developing rapid, scalable distributed applications. The ticker name of the asset is TLOS. According to the website, the platform seeks to energize the economy of the future and unleash humanity's full potential. Visionaries, technologists, builders, trailblazers, and active stakeholders operate a fully decentralized network with the assistance of the platform.
The platform aims to expand the Telos ecosystem rapidly and therefore has quickly accumulated a host of new features that offer it a competitive advantage over competing platforms. Depending on the needs of a project, it can be utilized as a full-stack alternative or as a scaling solution.
The Telos Blockchain Network assists DApp developers in tackling this difficulty by allowing them to stake resources (in this case, TLOS) on behalf of their users. As a result, an application can trade the amount of TLOS that their users require, removing the transactional cost load from their application.
In addition, since the mainnet launched in 2018, the Telos ecosystem has been paving the road for Web3. With no ICO or VC funding, the network claims to have flourished in a fully decentralized manner. Token holders are empowered by Telos's strong governance structure, which is complemented with a suite of sophisticated Telos Decide tools. Telos is an open network in which the users have an equal chance to contribute and influence the chain's path.
Furthermore, the team aims to develop over 100 distributed applications on Telos, including the Zeptagram music rights trading platform, QUDO gaming platform, Appics social media platform, dStor decentralized storage solution, and Sesacash payment system, along with a complete list of Telos's DApps.
History of Telos (TLOS)
The Telos network has been built since its mainnet debuted in December 2018 to power future economies and has been giving human-scale solutions to global concerns. It claims to incorporate new governance elements in its roadmap that empower businesses to transfer influence and decision-making to a more collaborative and transparent paradigm in order to achieve these aims.
Justin Guidici is the CEO and cofounder of Telos Foundation and Telos network. The team also includes Lliam Buckley, George Vernon, Paul Walton, Rory Mapstone, Jeff Nowak, and others. The whitepaper was published on July 17, 2018.
