What makes Telos Special?
Telos is a new blockchain code-forked from EOSIO open source software and therefore shares a similar code base to EOS and all EOSIO variants. [^1] . Read the whitepaper or goto Telosfoundation.io for more details.
[^1]: Why the 40,000 Token Cap - [https://medium.com/@teloslogical/why-the-40-000-token-cap-the-analysis-behind-the-cap-3dba9850d603]
Since we have EOS, why do we need Telos?
While EOS is a superior piece of open source software, there are a few areas that need improvement. Telos seeks to improve upon a few shortcoming of EOS.
What are some of those EOS shortcomings?
EOS voting is very concentrated
EOS voting is too hyper centralized where less than 1% of owners control the majority of voting power. Telos seeks to change disparity this by 'capping' accounts that hold more than 40,000 EOS. Consequently, more voters will determine the future of the Telos network.
Deploying a Decentralized Application (dApp) on EOS requires RAM and speculators have made it too expensive.
The Telos Foundation will publish guidance on the price RAM to further discourage wild speculation. There will be some RAM grants to developers, but more importantly, the Telos Foundation will sell RAM at the published guidance price (PGP) to developers which means that speculators will have no incentive to sell higher than the PGP.
EOS Block Producers (BP) rewards between active and backups are vastly different.
Telos will change the rewards ratios paid to active versus backup BPs. Moreover, backup block producers will be required to produce ‘blocks’ on a regular basis to prove they are ready to do their job and step in when needed. EOS does not test backup BPs for readiness.
While the above list above is not comprehensive, however it offers some insight into a few key differences in between EOS and Telos.
Telos' Purpose
A founding member of Telos, Douglas Horn said, 'Telos means the ultimate purpose of a thing'.
Therefore the telos of the Telos blockchain is to:
Provide security, openness, transparency, and opportunity.[^2]
[^2]: The telos of Telos - [https://medium.com/@teloslogical/the-telos-of-telos-f9b443bff88d]
We need everyone's help to assist Telos reach and fulfill their purpose.
Thanks for reading!
This article was written by the CSX Community and Douglas Horn, with additional contributions from referenced articles cited in the footnotes.
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