Telos is a public layer-1 blockchain network that was launched in 2018 by Justin Giudici with the aim of creating a platform for building decentralized applications (DApps) that are scalable, fast, and secure. The Telos network is built on the EOSIO software, which is known for its EVM compatibility, high throughput and low latency, making it an ideal platform for building DApps. However, TLOS has made several improvements to the EOSIO codebase to address some of its limitations, such as the lack of governance and token distribution issues.
Telos boasts 1000 transactions per second, making it one of the fastest blockchain platforms available. This speed is achieved through the use of a Delegated Proof-of-Stake (DPoS) consensus mechanism, which allows for faster block confirmation times and reduces the risk of network congestion. The network also has a low and fixed transaction fee structure, which makes it cost-effective for businesses to use. It is said to be applicable in a variety of business applications, including supply chain management, identity verification, as well as gaming and virtual worlds.
TLOS is the native token of the Telos blockchain. It is used as a means of exchange for transactions on the network and as a form of staking for participating in the governance process. Token holders can use their TLOS tokens to vote on network proposals and changes, as well as participate in block production and other network activities.
The total supply of TLOS is 355,208,371 and the circulating supply is 270,123,444.
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