Telos, a next-generation blockchain platform, today announced the launch of Telos EVM Mainnet, a fully EVM-compatible Layer 1 chain. The Telos EVM is a non-Ethereum fork, an Ethereum virtual machine (EVM) that executes existing Solidity and Vyper contracts unchanged, just like Ethereum, but at 30 times the speed, about 1% of the cost of Ethereum -Gas charges and at a fraction of the energy cost.

With the goal of salvaging existing Ethereum dApps that have been hampered by the increase in gas charges, Telos EVM enables developers to deploy their Solidity Smart Contracts on Telos EVM without any code changes.

Designed to be the future of both wholesale and micro-retailing, the Telos EVM solves problems that have gone unchecked by Ethereum 2.0, namely the ability of wholesalers to trade completely in isolation from front-runners. Front running is used extensively by Ethereum miners and trader bots to increase their spread. Non-public knowledge of a large pending transaction that affects the price of the underlying security or coin. This prevents institutional investors from taking full advantage of the crypto space and making larger investments.

“Front running on DeFi is getting more complex and frankly depressing. It started with individuals using bots to offer high gas fees to skip the line to high value transactions. Over time, the miners inserted their own front-running transactions themselves, paying only the minimal gas fees (gas fees are shared with the many mining nodes that work for a mining pool, while front-running fees are paid by the pool operators can be retained). This means that the mining pools that operate the chain deduct this value from the users without their consent. “
– Douglas Horn, Telos chief architect and white paper writer

On the other hand, sub-dollar trades are now possible because the transaction fees for Telos EVM are so low. So that everyone can participate in DeFi trading.

In addition, the governance structure of Telos gives developers and community members more control over the platform than other comparable blockchains. The Telos Decide governance engine provides all Telos developers with governance functions for use in their own DApps.

Timetable 2021

For more information, see the full Telos Technical Roadmap 2021 here.

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