Telos is a blockchain. Article over!
I kid I kid. But in all seriousness Telos is another blockchain. And I can hear you asking yourself "why do we need yet another blockchain TrocProcLock?". There is a short answer and a long answer and since this is my article I am going to answer both to make this an even longer-er answer :)
Okay so I will try to keep it short and simple as much as I can. I am assuming you all know your way around blockchains so I am not going to reinvent the wheel here and tell you the fundamentals of what you already know. However ask any questions you have in the comments and I will respond!
What is Telos?
Telos is a blockchain and $TLOS is the native token on that blockchain. The Telos blockchain is a Layer-1 blockchain meaning that it is it's own blockchain and doesn't run on the Ethereum blockchain as a layer2 or some other blockchain. Honestly the best way to describe Telos is to think of it as a very very very similiar blockchain to WAX. However it is NOT integrated with WAX what so ever so they are very separate but also similar.
If you are familiar with WAX then you are already familiar with Telos.
Telos was built on a open-source software platform called "Antelope". The reason that matter is because it is what WAX and EOS were built on as well.
What are it's tokens?
The native token on the TELOS blockchain is $TLOS.
The Telos blockchain is a Delegated Proof of Stake blockchain which means you stake your TLOS into RAM, CPU or NET to be able to perform actions on the blockchain without paying gas fees. Sound familiar?
Look I am not trying to just compare Telos to WAX but doing so makes it so much easier for people to understand how Telos works.
Nefty Blocks has native support for Telos and so if you want to get into the NFT scene on Telos utilize NeftyBlocks!
How do I get Telos?
You are going to need a Telos Wallet. There are 2 easy ways I recommend getting a Telos wallet.
1) Use Anchor wallet. Anchor wallet supports native Telos wallets so if you already have Anchor installed you can switch to the Telos blockchain and create a new account right then and there.
2) You could use https://wallet.telos.net/ to create a Native Telos wallet (which you could also import into Anchor later if you wanted).
Once you have a Telos wallet you can either have someone you know send you some TLOS and you send them some other currency like WAX.
Or you could use one of the exchanges they recommend:
Since this is Publish0x I feel obligated to recommend Kucoin. You can withdraw your ETH of AMPL from here to Kucoin and then swap it to USDT and then swap that to TLOS very easily. And honestly this is what I am doing :)
The Telos foundation talks about how multi-chain is the future so over time I highly believe that you will be able to swap WAX for TLOS or even EOS for TLOS easily. We just are not quite there yet.
What makes it different?
Telos describes itself as a ESG Blockchain. ESG is an acronym that stands for Environmental, Social and Governance. What Telos is trying to do it make a blockchain that is not bad for the environment (I'm looking at your Bitcoin) and is socially responsible and acceptable and has a trust worthy governance in place.
The Telos network has worked to become the most accessible, equitable and efficient blockchain on the market. During this process, the network has naturally grown to become the world’s leading example of what it means to be an ESG blockchain. Whether you look at it through the lens of environmental impact, social responsibility or governance capabilities, Telos comes out on top every time.
When it comes to Governance think of WAX or EOS.
When Douglas Horn wrote The Telos Whitepaper in 2018, governance was the primary issue that Telos sought to solve. This is because the Telos blockchain operates on a protocol known as Delegated Proof of Stake (DPoS). Without getting into the technical weeds, DPoS gives community members the power to vote for validators that they believe have a vested interest in the network.
An also interesting point is the Environmental impact of Telos compared to other blockchains.
WAX is omitted from this chart because it is extremely similar results to Telos. Which isn't a bad thing but just something to keep in mind.
Why should I care?
You don't have to. But on June 1st, 2023 the Telos Foundation announced a partnership with Gamestop. They are teaming up to basically onboard Web2 users into Web3 with the Telos blockchain.
You can read more about it here: https://blockster.com/gamestop-telos-announce-partnership-to-onboard-the-next-100-million-new-players-to-web3-gaming
But I have a feeling this is only going to bump Telos up there and to get in before that happens could make for a wild ride.
You can join the Gamestop
As always Do your Own Research please!
Yeah. my friend Byron is already making NFT's on the Telos blockchain and you should pick some up: https://telos.neftyblocks.com/collection/dateloshorde
I am working on a series to explain how to make your own Telos NFT collection and such for artists so stay tuned. I will be giving away Telos NFT's in those posts so make sure you have an account sooner rather than later!
Here is what ChatGPT says about Telos and why it is different/better than other blockchains:
Disclaimer: I did not write this next portion, a online AI wrote it.
Telos is a blockchain platform that distinguishes itself from other blockchains through its unique set of features and characteristics. Here are some key aspects that differentiate Telos from other blockchain networks:
Governance: Telos offers a robust and inclusive governance system. It employs a delegated proof-of-stake (DPoS) consensus mechanism where token holders can vote for block producers who are responsible for validating transactions. The governance structure ensures decentralized decision-making and allows the community to actively participate in the platform's evolution.
Scalability: Telos is designed to handle a high volume of transactions and support scalable decentralized applications (dApps). It achieves scalability through its advanced technology stack, including the Telos Virtual Machine (TVM) and the Telos Economic Development Tools (TEDPs). These components enable efficient execution of smart contracts and ensure optimal resource allocation.
Performance: Telos focuses on delivering fast transaction processing and low latency. Its block time is set at just 0.5 seconds, resulting in quicker confirmation and settlement of transactions compared to other blockchains with longer block times. This makes Telos suitable for applications requiring near-instant transaction finality.
Developer-Friendly Environment: Telos offers a developer-friendly ecosystem that encourages the creation of innovative dApps. It supports smart contracts written in various programming languages, such as C++, allowing developers to leverage their existing knowledge and skills. Telos also provides developer tools, documentation, and libraries to simplify the development process.
Inclusive and Fair Token Distribution: Telos has implemented a unique token distribution model to ensure broad participation and equitable allocation of tokens. Its "Stake-Based Ownership" (SBO) approach rewards early adopters and stakeholders who actively contribute to the network's growth, fostering a vibrant and engaged community.
Social Impact Focus: Telos places a strong emphasis on social impact initiatives and fostering positive change. It supports projects with a focus on sustainability, conservation, education, and other socially beneficial causes. This commitment to social impact differentiates Telos as a blockchain platform with a broader vision beyond financial applications.
Overall, Telos stands out among other blockchains by combining governance, scalability, performance, developer-friendly tools, fair token distribution, and a social impact focus. These features contribute to Telos' goal of providing a secure, efficient, and sustainable platform for decentralized applications while fostering an engaged and inclusive community.
If you have a Telos wallet drop your wallet address in the comments for a surprise :)
Let me know if you are new to Telos or not as well.