Telos

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Discover Telos's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Telos?

Telos (TLOS) is a Layer-1 EVM blockchain that operates on a delegated proof-of-stake (DPoS) consensus mechanism. It is known for its high speed, scalability, and low fees, making it suitable for microtransactions. The native token, TLOS, is used for governance, executing smart contracts, and staking rewards. Telos is a community-driven project with a focus on decentralization, security, and environmental sustainability, aiming to provide a fast and efficient platform for dApp deployment and mainstream adoption.

How is Telos used?

Telos (TLOS) is the native token of the Telos blockchain, a high-speed, Layer-1 EVM (Ethereum Virtual Machine) platform. The token serves several purposes within the Telos ecosystem:

  1. Governance Token: TLOS is used for governance, allowing holders to participate in decision-making processes and vote on proposals that shape the future of the network.

  2. Currency for dApps: TLOS acts as a currency within the ecosystem of decentralized applications (dApps) built on the Telos blockchain, facilitating transactions and interactions between users.

  3. Smart Contract Execution: TLOS is used to execute smart contracts, which are computer programs that automatically execute when certain conditions are met.

  1. Staking Reward: TLOS is rewarded to users who participate in staking, a process that helps secure the network through the delegated proof of stake (DPoS) consensus mechanism.

These uses highlight the versatility and importance of TLOS within the Telos ecosystem, enabling a range of activities from governance to transactional purposes.

How do I store Telos?

To store Telos (TLOS) tokens, you have several wallet options:

  1. Anchor Wallet: This wallet is recommended for its ease of use and compatibility with staking on staker.one, which allows you to earn interest on your TLOS coins.
  2. SQRL Wallet: This wallet is also popular and allows you to stake your TLOS tokens directly to REX from the wallet, making it a convenient option.
  3. Telos Web Wallet: You can create a wallet directly on the Telos website, which is a secure and official option for storing TLOS tokens.
  4. MetaMask Wallet: You can also import your native TLOS tokens into your MetaMask wallet by following specific steps, making it a versatile option.

Before choosing a wallet, consider factors such as ease of use, staking capabilities, and security to ensure the best fit for your needs.

How to buy Telos?

To buy Telos (TLOS) tokens, follow these steps:

  1. Decide where to buy Telos: You can purchase TLOS on several cryptocurrency exchanges, including KuCoin, CoinEx, gate.io, and MEXC. Ensure the exchange accepts customers from your country and offers the features you need, such as spot markets, margin trading, and futures.

  2. Create an account: Register a free account on the chosen exchange, providing personal information like your name and email address. You may need to complete Know-Your-Customer (KYC) verification to increase withdrawal limits and unlock additional features.

  3. Add funds: Deposit funds into your exchange account using fiat currency or other cryptocurrencies. The specific methods vary by exchange, but common options include bank transfers, credit cards, and OTC trading services.

  1. Make a buy order: Decide whether to use a Market Order or Limit Order. Market Orders execute immediately at the current market price, while Limit Orders allow you to set a specific price. Choose the order type and enter the amount of TLOS you want to buy.

  2. Store your Telos: Once purchased, store your TLOS tokens in a secure wallet. You can use the exchange's built-in wallet or transfer the tokens to a personal wallet like Metamask or Trust Wallet.

  3. Track your investment: Monitor your TLOS investment performance regularly to make informed decisions about buying, selling, or holding your tokens.

Additionally, you can also buy TLOS on decentralized exchanges (DEX) by connecting your wallet, transferring the necessary cryptocurrency, and swapping it for TLOS. Be cautious of fake tokens on DEX platforms.

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History of Telos

The history of Telos (TLOS) began with its mainnet launch in December 2018. Founded by a group of over 30 community members from diverse backgrounds, including software developers, blockchain enthusiasts, and business leaders, Telos aimed to provide speed, stability, and decentralized governance. Notably, the project did not receive any ICO funding or VC investments, ensuring a community-driven approach from its inception.

In 2021, Telos launched its Ethereum Virtual Machine (EVM) to enhance compatibility with existing applications, tooling, and networks. This move paved the way for Telos to transition into a true Layer 0 network, enabling the creation of new blockchains that utilize Telos Zero Consensus.

Throughout its existence, the price of TLOS has fluctuated between a low of $0.001 and a high of $1.29. The first peak in the price of TLOS came in 2021, following the launch of the tEVM. A subsequent sharp fall was caused by the discovery of a vulnerability on the Telos blockchain, but this was quickly eliminated, leading to the price rising once again.

Telos has continued to grow and expand steadily since its inception, with a strong focus on security, fairness, openness, and transparency. The project's community includes over 30 core developers, 50 validator teams, 900,000+ user accounts, and 160,000+ engaged social followers, as well as partnerships with over 200 companies across 150+ countries.

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How Telos works

Telos (TLOS) is a Layer-1 EVM blockchain that operates on a delegated proof of stake (DPoS) consensus mechanism. It was launched in December 2018 and is known for its scalability, interoperability, security, and environmentally friendly features. Here's a detailed overview of how it works:

Governance and Token Usage

The TLOS token is the native token of the Telos blockchain. It serves several purposes:

  • Governance Token: TLOS is used for voting on network decisions, ensuring that the community has a voice in shaping the direction of the network.
  • Currency: It is used as a currency within the ecosystem of decentralized applications (dApps) built on Telos.
  • Smart Contract Execution: TLOS is required to execute smart contracts on the network.
  • Staking Reward: Token holders can stake their TLOS to support the network and earn rewards.
Consensus Mechanism

Telos uses a delegated proof of stake (DPoS) consensus mechanism. This means that users vote for validators, known as block producers, who are responsible for creating new blocks and maintaining the integrity of the blockchain. The DPoS mechanism ensures that the network is secure and efficient.

Scalability and Interoperability

Telos is designed to be highly scalable, with the ability to support over 15,200 transactions per second. It also integrates with other blockchains through Inter-Blockchain Communication (IBC), allowing for seamless communication and horizontal scaling across different networks.

Security and Environmental Impact

Security is a top priority for Telos. The network has never experienced downtime since its launch and is carbon-neutral, offsetting its carbon footprint every two years. The use of C++ for the base layer makes Telos transactions energy-efficient, consuming only 0.0004 wH per transaction, significantly less than other networks like Ethereum.

Governance and Community

Telos has a strong focus on community governance. The Telos Decide governance engine allows anyone to create customizable governance structures for their projects, ensuring that decision-making is decentralized and transparent. The network also has a robust community of developers, validators, and users who contribute to its growth and development.

Telos EVM and Antelope Coalition

Telos EVM is a smart contract on top of the Telos blockchain, allowing for compatibility with existing Ethereum applications and tooling. Telos is part of the Antelope Coalition, a group of blockchains including EOS, Wax, and UX Network, which share the AntelopeIO software layer. This collaboration enables the creation of new blockchains that utilize Telos Zero Consensus.

Telos Works

Telos Works is a mechanism for funding community projects. It allows users to propose projects and receive funding through a voting process. The platform uses a simple deposit/withdraw system for handling funds and charging service fees.

Overall, Telos is a decentralized network that prioritizes security, scalability, and community governance, making it an attractive option for developers and users alike.

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Telos's strengths

The token Telos (TLOS) has several strengths that contribute to its value and utility within the Telos Network ecosystem:

  1. Governance: TLOS is the primary token for network governance, empowering token holders to influence decisions and vote on critical network upgrades, ensuring community involvement and decentralized decision-making.

  2. Gas Fees: TLOS is used to pay for gas fees, which are fixed and low, providing a cost-effective environment for transactions and smart contract interactions.

  3. Resource Allocation: On Telos Zero, TLOS is used to buy network resources, enabling users to transact, compute, and store data efficiently.

  1. Staking: By staking TLOS, users can earn returns that are automatically compounded every 30 minutes, incentivizing participation and network security.

  2. Scalability: Telos is designed to be highly scalable, capable of processing up to 10,000 transactions per second, making it suitable for widespread adoption.

  3. Interoperability: Telos integrates with other networks through Inter-Blockchain Communication (IBC), allowing for horizontal scaling and seamless interactions.

  1. Security: The network uses a Delegated Proof-of-Stake (DPoS) consensus mechanism, ensuring a secure and reliable environment for transactions and smart contracts.

  2. Environmental Friendliness: Telos claims to be carbon-neutral, offsetting its carbon footprint every two years, and its transactions are energy-efficient, consuming significantly less power compared to other networks.

These strengths collectively contribute to the value and utility of the TLOS token, making it an attractive option for users and developers within the Telos Network ecosystem.

Telos's risks

Telos (TLOS) faces several financial risks. According to TipRanks, the company disclosed 39 risk factors in its most recent earnings report, with the majority falling under the "Ability to Sell" category. This includes risks related to the execution of corporate activity and strategy, financial and accounting risks, and risks related to the value of intangible assets and financial reporting.

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Did Telos raise funds?

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Telos’s team

  • CTO Jesse Schulman: As the Chief Technology Officer, Jesse oversees the technical development and direction of the Telos blockchain, ensuring its continued performance and scalability.

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