The Telos Blockchain Network (Ticker symbol: TLOS) is an open-source, decentralized blockchain network based on the EOS.IO codebase.
Telos launched their mainnet in December of 2018. Much like Bitcoin, Telos has been able to churn out a world-class blockchain with copious amounts of original code development without raising cash in any form of ICO or token sale.
Since Telos is built on custom code, the developers still need to test new EOS.IO reference code released by Block.one to check for conflicts. Because of that, Telos has a group of core developers dedicated to performing these checks and updates.
The on-chain governance platform of Telos is unique in the crypto world and is highlighted by three separate applications: Telos Works, Telos Decide, and Telos Amend. These apps are also available to all stakeholders as well as DApps who build on the Telos blockchain.
Telos Works is a robust worker proposal system built on a smart-contract-controlled, perpetual funding structure. Anyone who wants to work on the chain can write a proposal asking for funds from eosio.saving. The person requesting funding submits the proposal from their account using Sqrl Wallet or another portal. A worker proposal submission is made, which is uploaded to TIPFS decentralized file storage, and an amount is paid to a designated Telos account if the voters decide to approve it. The transactions can also be set as recurring payments. The voting on the proposal must continue to be approved by voters with each cycle in order to be paid. Because the worker proposal system is built on smart contracts, there is no human intervention in the process.
Telos Works (Worker Proposal System or WPS) Funds
Telos Works initially received a 1.5% annualized rate of inflation in addition to the inflation block producers earned operating the network. However, when the Telos Economic Development Plan was passed by the community, a reserve of tokens was chosen to fund Telos Works instead. Telos Works receives approximately 1,000,000 TLOS every 30 days which accrues until a worker proposal is approved and money has left the account. Worker proposals have a 29-day voting period during which time the community can cast their vote. At the end of the voting, if the proposal has received votes (yes, no, or abstain) from more than 5.0% of all available Telos votes and has a simple majority of yes votes over no votes, it will pass and the proposer will be able to execute the transaction. The transaction will be paid if the eosio.saving account contains enough funds. If not, then the proposer waits until enough accrues.
In order to avoid an influx of proposals from clogging the system, worker proposals require a deposit fee of 3% of the amount requested per cycle. If proposals are deemed healthy to the ecosystem and get more than 0.1% of available Telos votes and at least 20% yes votes, then the deposit is returned to the proposer.
If a worker proposal does not satisfactorily complete the task they’ve taken up, block producers can file an arbitration against the proposer by presenting evidence to an elected arbitrator about why funds should be returned. The arbitrator would then decide.
Telos Decide is a consolidated on-chain, customizable voting service that gives users and developers an incorruptible tool for tracking and recording voting information. Within Telos Works, Telos Decide gives all Telos stakeholders a chance to voice their opinions on how Telos is run and allows everyone with TLOS tokens unambiguous voting rights.
Telos is capable of total self-governance with this continuous voting system for electing block producers, arbitrators, and for deciding which worker proposals should receive funding, and Telos has the only governance model that allows participation and voting by all users which is totally controlled by smart contracts. As a decentralized entity, Telos has no owners, managers, or centralized control, so it cannot be shut down, censored, blocked or acquired.
Telos Amend allows any user or stakeholder the ability to propose system-wide changes and rules for discussion and voting, without requiring them to have the skill to write the actual code. Telos Amend allows for greater community involvement from a wider range of stakeholders, and leaves the code writing to the core developers.
The Telos Foundation
The Telos Foundation (TF) is an organization with a mission to aid in the promotion and improvement of the Telos Network. The foundation is led by Suvi Rinikin. Telos’ executive board also includes Beth Farnham, Richard Bryan Erikodi, and Mark Cohen. Other board members include Robert James, Justin Giudici, Jim Hewitt, Jesse Schulman, Daniel Uzcategui, Adam Zientarski, and Rory Mapstone . Jan Smit is The Telos Foundation Interim RAM Administration Director.
The Telos token (TLOS) is the mainnet token of the Telos Network and is used for acquiring resources for dApps, voting for block producers, worker proposals, election arbitrators and other on chain governance. There is a total supply of 355,208,371 TLOS and a circulating supply of 232,275,043 TLOS.
Active Dapps On The Telos Network
- Awake Wallet
- Cards & Tokens
- Connect Social
- EOS Toolkit
- Greymass (Wallet)
- Ledger Nano S/X
- Math Wallet
- MEOW (Wallet)
- My Telos Wallet
- Sensor Dapp
- Simple Market
- Sqrl Wallet
- Telos Index
- Telos Lynx
- Telos Place
- Telos Planet
- Telos Tracker
- TLOS Pick 2 Lottery
Dapps Committed To Building On Telos
- Biggest Bet
- Drakos Keep (game)
- Duka: The Blockchain Craft Marketplace
- EOS Studio
- Jiji AR/VR
- Ore ID
- Secrypto Wallet
- TEACH Coin
- Token Pocket
- Torus Wallet
Telos api endpoints (testnet and mainnet verified 07 May 2020): https://ipfs.io/ipfs/QmQ1zYmhHBA5zB3sBLNP7j8JAQfLGc1jp5WcMibywfmUZE