Telos

Telos (Telos.net) is an open-source, high performance Layer 1, third-generation blockchain platform with smart contract functionality. The Telos Whitepaper was released by Douglas Horn of GoodBlock in July of 2018 and a group of 12 original founding organizations was announced in August 2018. This Telos Launch Group grew to over 120 global participants, working towards the December 12, 2018 launch of the Telos mainnet.

Telos Specs

Telos operates at a consistent block time of 0.5 seconds per block. The protocol was tested in 2020 on the Jungle Testnet to operate at a maximum burst speed of 10,000 tps. (As of December 2022, a program of new testing is underway, with results expected to be released Q1 2023 showing significantly higher burst speeds and for the first time in blockchain reporting, sustained speeds as well.)

The Telos mainnet has not experienced any scheduled or unscheduled downtime since its launch December 12, 2018.

According to Blocktivity.info the Telos mainnet record for most transactions processed in a 24-hour period is 18,216,061, putting it in fourth place overall for this record behind Antelope protocol cousins EOS, WAX and Proton. However, prior to the 2021 update of Blocktivity's database, the Telos record was above 36 million transactions per 24 hours, putting it in second place for this record behind EOS.

Telos runs programs in WASM code to maximize performance.

Transactions costs for Telos native are 0.00 TLOS, since a non-consumptive resource staking model is employed instead of a consumptive gas-based model. For Telos EVM a consumptive gas model is used (as required by any EVM) with a fixed gas price (adjusted weekly in small increments) with a current price of approximately 500 GWei of TLOS per gas unit. Telos EVM gas costs for transfers and other common transactions are typically well under 1 cent USD.

Protocols

Telos currently runs two protocols: Telos native, which employs the Antelope protocol (previously known as EOS.IO) and Telos EVM which runs a version of EVM running its EVM interpreter within a single Antelope C++ smart contract.

EVM Chain IDs: Telos EVM mainnet: 40 Telos EVM testnet: 41

Telos Consensus Model

Telos (both native and Telos EVM) employ a Delegated Proof of Stake (DPoS) consensus model where TLOS token-holders stake their tokens for either network resources or Resource Exchange staking rewards and gain the right to vote for the 21 validator nodes and 21 standby validator nodes that will operate the Telos network. At any given time, Telos validators (a.k.a. block producers or BPs) are organized into a schedule of 21 BPs with 20 being selected from the top-21 vote recipient candidates and one being selected on a regular rotation from among the second tier of 21 BPs based on token-weighted votes. Elections are run constantly at a resolution of about 150 seconds per round (2.5 minutes). At any given time 15 of the 21 Telos BPs in the current schedule may enact any governance action they can approve and execute in a multi-signature transaction. Block producer actions are bound by the Telos governance documents (primarily the Telos Blockchain Network Operating Agreement a.k.a. TBNOA) which set a number of rules for Telos BP actions. BPs must reveal the true ownership of their organizations and no one may own all or a portion (>5%) of more than a single Telos block producer entity. Exchanges may not vote user tokens and voter proxies are not currently allowed.

Telos governance documents are available at telos.decidevoter.app .

Telos EVM Advanced Features

• Flat gas prices - higher fees will not be accepted

• No MEV/front-running - no transaction can be re-ordered to achieve favorable positioning.

IBC

Telos and Telos EVM will offer Inter-Blockchain Communication (IBC) based on the Antelope IBC protocol which is a trustless form of IBC based on provable Merkel-tree proofs. Tokens may be locked-up on one chain employing Antelope IBC (initially Telos, EOS, WAX and UX Network) and issued as wrapped tokens on another with the added benefit of sending verbose instructions for account destination and further smart contract actions on the recipient chain.

Antelope Coalition Membership

Telos is a founding member of the Antelope Coalition (antelope.io) along with the EOS, WAX and UX Network blockchains.