Telos Network launches the first sustainably decentralized EOSIO-based blockchain
The Telos Network launches the first sustainably decentralized EOSIO-based blockchain
The Telos Network, a joint project by experienced members of the EOS block producer
community, is launching the first sustainably decentralized new blockchain based on EOSIO
Telos (telosfoundation.io) is responding to the critical need for a network where developers can
affordably release commercial EOSIO DApps. Telos offers innovative solutions to problems
currently plaguing the EOS mainnet: keeping RAM affordable (slower RAM release, and RAMprice
stabilization), voting (inverse-weighted voting), block producer reliability (equitable pay,
enforced minimum requirements, regular testing of standby readiness), and governance.
Telos will sustainably decentralize its network by capping whale accounts. Telos will start with
the EOS ERC-20 snapshot but cap accounts at 40,000 TLOS tokens. This will affect less than
0.67% of all addresses while creating the most evenly distributed token ownership of all major
blockchain. There is a simple process in place for exchanges to petition to have TLOS tokens
created for all of their customers who held EOS tokens at the time of the EOS snapshot. Telos
will have a money supply of approximately 330,000,000 tokens, meaning that each TLOS token
will have three times the network equity of an EOS token.
The Telos network will be launched by six publicly known ABPs (appointed block producers)
for maximum transparency. The network is currently running as a testnet with several block
producers and can be viewed at https://testnet.telosfoundation.io The Telos mainnet will launch
in August at which time, TLOS owners may begin voting for block producer candidates to reach
the 15% required for network activation.
The Telos project consists of partners including block producers, DApp developers, and
blockchain technologists. The launch partners include: eosBarcelona, EOS Detroit, EOSMetal,
EOS the World, EOS UK, EOS Van, goodblock (EOSAmericas), Infinitybloc, keten.io (Dutch
EOS), Sukesh Tedla. More information is available in the Telos
white paper available at https://telosfoundation.io.