Telos (TLOS Token): Decentralized EOSIO Blockchain Network EOS Fork?
What Is Telos?
The Telos Network is a joint project that was created by experienced members of the EOS block producer community. It recently announced it would launch a sustainably decentralized blockchain, which will be based on the EOSIO software.
The main reason for this appears to be a need to solve major issues that plague the EOS mainnet. This EOSIO-based network, which is sustainable and cost-effective.
The Telos Decentralized EOSIO Blockchain Network EOS Fork Solutions
Accountability Of Block Producers
Telos has certain minimum requirement for block producers. The standby producers on the Telos network have to prove their readiness regularly by rotating into production 6 hours every 5 days. It helps to ensure that the network is resilient at all times.
Besides that, this ensures that the top 21 block producers will have 12 off-peak hours every week during which to conduct system maintenance. If a block producer does not produce blocks in 30 minutes or about 180 blocks, there are replaced for 6 hours.
Telos was created using the EOSIO code; it will be compatible with EOS for the DApp developers as a result. On Telos, the DApps will be forced to go open source.
Telos has a process in place for exchanges to petition to get new tokens, which are printed for customer up to a given cap. These customers held the EOS token during the EOS snapshot and list TLOS tokens.
Improvements to governance have been made with the capping of whale accounts. This will start with the EOS ERC20 snapshot. However, accounts will be capped at 40,000 TLOS tokens. This will affect less than 0.67% of all the addresses. At the same time, it will create an evenly distributed token ownership, the most even of any major blockchain.
Telos plans to launch a mainnet with referendum voting, a constitution that works, approved wallets, an arbitration process and body, and a worker proposal process.
RAM shall remain affordable. To make this possible, they will implement slow RAM releases and RAM prices stabilization. There will be a designated RAM fund, which will ensure the first million will have the freedom to create for them to aid rapid user adoption. Telos has also introduced two powerful tools, which will help to stabilize the RAM from speculation.
Supply And Distribution
Telos plans to have a money supply of about 330 million tokens. This means that each TLOS token will have thrice the network equity of EOS tokens. Telos gives the TLOS tokens to all the EOS owners that were included in the original EOS snapshot. The TLOS tokens are distributed in the ratio of 1:1 with the EOS tokens; this is capped at 40,000 tokens for each address.
The Launch Of The Telos Mainnet
The launch of the Telos mainnet will happen before the end of August 2018. At this time, TLOS owners will start voting for the block producers to reach the 15% needed for network activation. This project comprises of partners that include DApp developers, block producers, and technologists. The launch partners are EOS Detroit, EOS Metal, EOS UK, Fuzzy, Infinitybloc, and many others.