How the Telos (TLOS) coin was created

The Telos (TLOS) coin emerged as the native cryptocurrency of the Telos blockchain, a decentralized platform forked from EOSIO and designed to foster scalable and efficient blockchain applications.

Dec 21, 2024 at 11:30 am

Key Points:

• Origins of the Telos Blockchain
• Development of the TLOS Token
• TLOS Distribution and Economics
• Telos Voting and Governance
• Telos Use Cases and Roadmap

How the Telos (TLOS) Coin Was Created

The Telos blockchain is a decentralized blockchain platform designed for hosting scalable and efficient blockchain applications. At its core lies the TLOS token, which serves as the native cryptocurrency of the Telos ecosystem.

1. Origins of the Telos Blockchain

Telos emerged as a fork of the EOSIO blockchain in July 2018. EOSIO, developed by Block.one, aimed to provide a high-throughput, low-latency blockchain platform. However, the EOSIO community raised concerns about centralization and governance issues.

2. Development of the TLOS Token

The TLOS token was created as the native cryptocurrency of the Telos blockchain. It plays a crucial role in network operations, including powering transactions, rewarding validators, and facilitating governance. The initial token distribution occurred during a fair launch, ensuring equitable access to TLOS.

3. TLOS Distribution and Economics

The total supply of TLOS is capped at 225,000,000 tokens. The distribution of TLOS is designed to incentivize network participation and adoption. Validators, who run nodes and process transactions, receive block rewards in TLOS. Additionally, TLOS is used for staking, allowing users to earn passive income by voting for validators and supporting the network.

4. Telos Voting and Governance

Telos employs a unique democratic governance model. TLOS token holders can participate in on-chain voting to make decisions regarding the direction and development of the platform. This decentralized governance system empowers the community to shape the future of Telos.

5. Telos Use Cases and Roadmap

Telos has been designed to support a wide range of decentralized applications and use cases, including:

• Decentralized finance (DeFi): Enabling the creation of lending, borrowing, and other financial services.
• Non-fungible tokens (NFTs): Minting and trading unique digital assets.
• Social media: Developing censorship-resistant and user-owned social media platforms.
• Supply chain management: Increasing transparency and efficiency in supply chains.

The Telos roadmap outlines ambitious plans for continued development, including upgrades to the blockchain protocol, smart contract capabilities, and governance mechanisms.

FAQs:

What is the purpose of the TLOS token?

The TLOS token is the native cryptocurrency of the Telos blockchain, used for transactions, rewards, and governance.

How is TLOS distributed?

TLOS was distributed through a fair launch, with incentives for validators and community members who participate in staking and governance.

What is the total supply of TLOS?

The total supply of TLOS is capped at 225,000,000 tokens.

How is Telos governed?

Telos is governed through a decentralized voting system, where TLOS token holders can vote on proposals that shape the platform's direction.

What use cases does Telos support?

Telos supports a wide range of use cases, including decentralized finance, NFTs, and supply chain management.