The Story

Telos Blockchain code forked EOSIO, the technology that powers EOS, with a vision to develop better governed and decentralised blockchain, which empowers its community members working hard to bring value to the network.

EOS faced criticisms of blacklisting accounts, vote-trading/buying, expensive resources, exchange voting, power of Block.One to sway decisions and the inability of BPs to act fast, which led to likeminded people to come together for Telocracy Movement.

On 8th December 2018, Telos Network was launched by the team of 120 Telos launch Group (TLG) members, and tokens were airdropped to genesis EOS Account holders with a hard cap limit of 40k tokens.

Telos introduced well thought out governance and constitution, document for functioning arbitration system, and agreement for Block producers which were either missing on EOS or were not well enforced. Robust governance has been one of the strongest pillars of Telos.

Four pillars of Telos Network.

1. Governance and TBNOA.

Every decentralised community needs some kind of decision-making process to thrive in this fast-growing world. We need active discussions on upgrading the network, introducing new changes, fixing issues and punishing the bad actors.

All these changes need some kind of guidelines/policies so that’s it’s predictable for businesses running on a blockchain.

See this as regulations in your states, if changes are frequent and not documented for businesses and people, bad actors will start exploiting them leading to failing businesses and lack of safety for individuals.

Telos has well thought out governance documents for all the parties involved in making Telos Network a go-to place for businesses. Standby BPs stakeholders, independent arbitration, proxies are the check and balance for enforcing such rules.

For any update/amendment on the network, the consensus of 14/21 BPs is required.

Quick links for governance documents -

Telos Blockchain Network Operating Agreement

Reg Producer Agreement

2. Scalability

Telos is powered by EOSIO, which claims infinite TPS using IBC (current maximum TPS — 9179), low latency, high throughput and swift transaction verification (180s LIB).

Telos, along with Transledger, is working on IBC solutions which will help to enable infinite transaction per second.

3. Cheap resources and close to zero transaction fees.

High transaction fees are an issue for many dApplications built on top of PoW Blockchains and most second-gen crypto projects.

Telos with the cheapest resources (CPU, NET and RAM) available, free accounts and the ability for dApps developers to stake resources for their end-users, makes the transition from centralised application to dApps ridiculously easy.

It’s so simplified that the applications end-user doesn’t even need to know/understand blockchain.

4. Telos Works

Many networks are dependent on ICOs(Initial Coin Offering) fund to push their marketing and development initiatives. But those funds are not infinite and gets exhausted at one point of time no matter how successful the ICO was.

Also, ICOs puts funds in the hand of a single entity(parent company), which usually makes it challenging to fund individual developers to work on an independent open source project if the parent company isn’t willing to put a bounty on such an initiative.

To solve such issues, Telos Network introduced community managed funds in the form of Telos Works to fund independent marketing and development initiatives, which in return help to grow the network.