Telos

Telos operates a decentralized, third-generation public blockchain platform designed for creating and deploying decentralized applications (dApps) and smart contracts. Launched in 2018, the project was initiated by a collective of over 100 individuals and developers from the EOSIO community who sought to create a network with a more equitable token distribution and robust on-chain governance. A key figure in its inception is Douglas Horn, who authored the whitepaper and served as the chief architect. Co-founders also include Justin Giudici, who has led product and strategy, and Jesse Schulman, the CTO. The mainnet went live in December 2018 after a grassroots effort without any initial coin offering (ICO) or venture capital funding, a strategic choice to avoid centralization and regulatory issues.

The company's business model revolves around its dual-layer architecture, catering to a diverse client base of dApp developers, enterprises, and individual users. The core infrastructure, now known as Telos Zero, is a high-speed consensus layer, while the Telos EVM, launched in late 2021, provides a high-performance environment compatible with Ethereum. This dual structure allows developers to build on a scalable and low-cost platform. Revenue for the ecosystem is generated through nominal transaction fees on the Telos EVM, which are significantly lower than Ethereum's, and the use of the native token, TLOS. TLOS is essential for staking, obtaining network resources (CPU, NET, RAM), paying for gas fees on the EVM, and participating in the network's on-chain governance system, Telos Decide. The Telos Foundation, a non-profit entity, supports the ecosystem's growth through grants and strategic initiatives.

The Telos platform offers a suite of products and services built on its blockchain. Its primary offering is the high-speed Layer-1 blockchain that reportedly handles over 15,200 transactions per second (TPS) with 0.5-second block times and has maintained zero downtime since its launch. A major milestone was the launch of the Telos EVM in November 2021, which is positioned as one of the fastest Ethereum Virtual Machines available. This feature allows developers to seamlessly deploy their existing Ethereum-based applications with minimal code changes, benefiting from higher speeds and transaction costs that are a fraction of Ethereum's. The network operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, where token holders vote for block producers who validate transactions, ensuring a democratic and secure process. For users and developers, the platform supports applications in Decentralized Finance (DeFi), gaming, NFTs, and enterprise solutions. The Telos Decide governance engine is a distinctive feature, offering a suite of tools for any dApp or DAO on the network to implement complex voting and governance structures.

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