Telos Network
The Telos Network was launched in 2018 and is known for its impeccable five-year record of zero downtime. Home to the tEVM, (a high-speed Ethereum Virtual Machine) launched in 2021, Telos has repeatedly demonstrated its commitment to advancing blockchain technology. Now evolving into a Layer 0 network, Telos prioritises scalability, security, and decentralisation, supporting over 15,200 transactions per second with minimal fees. The growing Telos ecosystem includes over 1.2 million accounts, hundreds of partners, and numerous dApps. Telos is contributing significantly to the transition towards Web 3.0 and decentralised solutions.
Telos uses the Delegated Proof of Stake (DPoS) consensus mechanism. This system is similar to the one employed by the EOSIO software, which Telos is built upon.
In Telos' DPoS system:
Token holders vote for a set of block producers (also known as validators) who are responsible for validating transactions and adding blocks to the blockchain.
The voting process is continuous, meaning block producers must maintain the support of the community to remain active.
DPoS is designed to be highly efficient, offering fast transaction speeds and lower costs, which is crucial for Telos' focus on decentralised applications (dApps) and enterprise use cases.
The Telos network has made specific improvements and optimisations over the basic DPoS model to enhance performance, governance, and community engagement.
Benefits Of The Telos Ecosystem
Cost-Effective: Telos EVM drastically reduces transaction costs to around 0.1% (1/1000th) of Ethereum fees, making it economically viable for both high-volume transaction applications and microtransactions.
Speed: With block times of 0.5 seconds and efficient transaction processing, Telos EVM boasts industry-leading speeds of over 15,000 TPS.
Transparency: The first-in-first-out mempool structure eliminates the potential for front-running and MEV, providing a fair and transparent ecosystem.
Ethereum Compatibility: Telos EVM's compatibility with Ethereum's programming languages and APIs makes it easy for developers to transition and build upon their existing knowledge
Connecting To The Telos Network
First go to https://chainlist.org/ and connect your wallet by pressing the button in the top right hand corner of the screen
Enter the word 'Telos' into the search bar at the top
Click the option to Add Chain
Network: Telos EVM Mainnet
Network URL: https://mainnet.telos.net/evm
Chain Id: 40
Currency Symbols: TLOS
Bridging To The Telos Network
Telos bridge supported by Layer Zero enables the transfer of certain digital assets and other data back and forth between different networks like Polygon, Binance Smart Chain, Ethereum, Arbitrum ZkSync and others with Telos EVM. The Telos bridge accepts popular wallets like Metamask, Phanthom, Coinbase and others
To begin transfer between various networks and Telos head over here
Tips
Whenever moving funds to a new location for the first time, test the process with a small transaction before committing all of your main funds.
Note that not all wallets support transfers direct to a contract address however this can be done using Metamask
Asides using the Telos bridge, you can purchase $TLOS from centralised exchanges
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