News ReleaseTelos tEVM and dStor to Power the MetaVerse in Utopian Fashion - Grants and Hackathons are Live!
Telos Foundation
Telos Blockchain (Tlos) has launched its very own non-Ethereum fork Virtual Machine ( tEVM ) and a cloud-based peer to peer decentralized file storage system ( dStor ) to facilitate the exploding Metaverse and all its future needs. Telos is a 3rd Generation, ESG compliant layer 1 blockchain that has been executing energy-efficient smart contracts uninterrupted since 2018. Every transaction on the Telos Network utilizes less than 0.000002 kWh of energy per transaction and costs end users zero to near zero in gas fees. Prior to the recent Telos EVM launch, the Telos mainnet was executing smart contracts only for Native C++, but now with the new Telos EVM it also can deliver smart contracts for Solidity and Vyper as well. The vast majority of all actively used dapps utilize one of these two languages, C++ or Solidity. Now that Telos EVM is live this means that Telos is the only blockchain capable of generating blocks for the two most popular languages. “With the Metaverse set to become its very own multi-trillion-dollar industry via entertainment and commerce, layer 1 blockchain solutions will be needed more now than ever. It is fundamentally impossible for any of this to work without them. Layer 1 blockchains that are scalable, affordable and energy efficient are the foundation of the Metaverse. The Telos Blockchain is the most advanced and robust layer 1 by many multiples. A utopian solution for Web3.0 and the Metaverse.” Justin Giudici, Acting CEO at Telos Foundation. Telos and its tEVM is capable of sustainably delivering hundreds of millions of near fee-less transactions per day before any future sharding/rollups. The Metaverse will need this level of capacity to thrive. Telos' current capacity is sufficient to handle the transaction needs of every single existing layer 1 chain, including all their future forecasted growth for the next decade. As other chains boast their theoretical transaction capacity, Telos delivers. With any one of the following third-party comparisons, one can clearly see for themselves some of the proven strengths of Telos. Cardano, Solana, Polkadot, Fantom and Telos vs the Clock Telos vs Fantom Telos vs Avalanche vs Binance Smart Chain vs Ethereum *Visit links above For Web 3.0 commerce and entertainment to thrive, dApps need speed, capacity, affordability, energy efficiency, decentralization and even p2p file storage. With Telos‘ half-second block times and endless capacity, transactions will consistently be inexpensive and faster than the eye can see. Transactions are instant with Telos. With the launch of the Telos EVM, Solidity based dApps can finally utilize all of these advantageous attributes as well. Ultimately, dApps on Telos can spread their wings, minimize their spending, and take flight on a Layer 1 platform that has no congestion in sight. *Developer Alert: Telos Spark Hackathon - 100,000 Tlos for First place! Feb 7 to March 6th - Register Here Telos Ignite Grant Program - 12 million over 4 years! Live now! - Register Here Some uses on Telos are even free for the end-user, specifically if the dApp was built in Native C++. These dApps running natively on Telos can enjoy zero fee transactions if they have staked enough resources to support their activity. These fee-less transactions are favorable for many Web 3.0 users, especially because the vast majority of transactions are simple transactions. For example, simple transactions are extremely common in blockchain gaming. It is often difficult for dApps to build a lucrative model around these continuously fluctuating transaction costs. Telos allows Web 3.0 dApps to overcome this barrier by being the only layer 1 platform offering a pathway to fee-less transactions. On the solidity side, the Telos EVM charges near zero gas fees for transactions. Uniquely, the prices do not move linearly with the Tlos coin price. Instead, the gas fees are fixed, independent, and remain homogeneous, which is very helpful when building a business on blockchain. Unpredictable fluctuating costs can destroy most business models, making it extremely important to note that Telos brings much needed stability to this variable. Telos' founders also bring years of Metaverse experience to the table. You may be wondering how that’s possible when the Metaverse seems to be brand new and Facebook’s Mark Zuckerberg just made it popular, but there is a background story. Before Web 3.0 and virtual reality were married off and coined into a single phrase, the Metaverse, Telos was already heavily engaged in the concept. In this MetaVerse / Web 3.0 gaming video from over 2 years ago, you will see Telos chief architect, Douglas Horn explaining how much of this works. The process of creating and owning digital art via NFTs and not just selling them but utilizing them across different virtual environments has been a deep seeded concept within the Telos team. It’s a concept that has led to the development of Telos EVM and Telos dStor, a decentralized peer-to-peer cloud-based file storage system that’s fully integrated into the Telos architecture. Telos dStor, as of now, is the highest performance storage system available. Individual users, collectors, digital graphic artists, musicians, and gaming companies can store all their digital Metaverse content seamlessly and simultaneously on dStor. This storage capability is available in all global regions, in a decentralized environment, for prices far lower than those offered by Google or Amazon for single-region availability. The next decade is sure to be metamorphic regarding the web and how we interact with it. Web 3.0, blockchain and real life are all on a path to collide into an altered virtual reality and layer 1 platforms like Telos will certainly be needed to deliver the fundamental building blocks that will help manifest the MetaVerse. About Telos Telos is a 3rd generation smart contract platform that offers compatibility with Solidity, Vyper and Native C++ smart contracts, providing full EVM/Solidity support as well as a fee-less native smart contract layer upon which the EVM is built. Telos performance is unrivaled in the industry and was purpose-built to offer speed, scalability, cost-effectiveness, decentralization and end-user fairness. The network can sustainably support hundreds of millions of transactions per day, produces blocks in 0.5 second intervals on a first-in-first-out basis (eliminating frontrunning on the network), offers a fee-less native and low per transaction cost EVM (<$0.10), and a fully decentralized block producer network. About The Foundation The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications. Contact Details Telos Foundation The Team hello@telosfoundation.io Company Website https://www.telos.net/
February 15, 2022 10:34 AM Eastern Standard Time
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