Telos, a blockchain based on the EOSIO protocol of EOS, has lived its first week of activity. The platform was launched at the beginning of the year in a limited capacity, but the Telos launch group decided to postpone a full version indefinitely.
On December 8, the group finally decided to launch the platform. It took some time for the launch to actually run, but now the first week of activity is over. The creator Douglas Horn writes:
"I would not have chosen to start the network shortly before [Christmas] but it was a good test. The chain has survived. The new users have discovered it and the TLOS token has started trading with a little volume. "
This means that Telos now provides a valid alternative to EOS and introduces some interesting features. However, Telos' place in the cryptography market is still uncertain and the new currency seems to have created some confusion.
Telos vs. EOS
Like EOS, Telos relies on the producers of blocks chosen to decide the course of his blockchain. However, EOS has sparked controversy due to the fact that the "whales" that hold a large amount of tokens can exercise significant control over the vote. Telos prevents it by making sure that no single genesis address can control more than 40,000 tokens.
In addition to block producers, the project also elected a board of directors. This group mainly serves to promote Telos and provide advice on resource prices. If RAM is in high demand, the Foundation will encourage block producers to increase the supply of RAM to reduce prices.
Horn noted that RAM is "purring without incident" and that a rapid price surge has been quickly resolved. EOS, of course, had to cope with high RAM prices, and Horn is sure that RAM and CPU will be available at a fraction of their price on EOS. This could attract app developers to the platform, as they are responsible for paying these costs.
Suggested reading : Take a look at our choices for the best EOS wallets.
Telos and the market
As Horn notes, the Telos token (TLOS) is now exchanged in small volumes. Market aggregators do not publish currency data yet, but an exchange provides a price: on December 28, ChainRift exchanged the currency at 0.032 EOS (or 8.6 cents).
It is likely that the price of the TLOS will change significantly in the coming weeks, and it is unlikely that the currency will close on the value of EOS itself. That said, at least one other EOS fork worked well enough: WAX is a top 100 coin, and it's possible that Telos can overcome it.
Interestingly, a low-ranking currency not associated with the Telos project seems to have benefited from the launch of Telos. Transcendence, an unrelated token with the TELOS ticker, has increased in price on December 9, around the launch of Telos.
Presumably, at least one investor bought quite a bit of the currency by mistake – or with the intent to sell it fraudulently – and raised the price. Alternatively, an exchange may have traded the two currencies and adjusted the price incorrectly. For greater clarity, the Telos ticker label is TLOS, not TELOS, and is not present in most exchanges.