Telos is a smart contract platform that enables developers to create decentralized applications. The Telos blockchain is based on the EOSIO software, which is the same software that powers the EOS blockchain.
The Telos Foundation was founded by block.one, the company that developed the EOSIO software.
The main difference between Telos and Ethereum is that Telos uses a different consensus algorithm called Delegated Proof of Stake (DPoS). Under DPoS, token holders can vote for block producers, who are responsible for validating transactions and maintaining the blockchain.
DPoS is designed to be more efficient than Proof of Work (PoW), which is the consensus algorithm used by Ethereum.
Telos also has a few other features that make it unique:
NOTE: Warning: Telos is not a platform on Ethereum. It is a blockchain that uses the same code as Ethereum, but it is its own independent platform. As such, you cannot use Ethereum tokens or wallets on Telos, nor can you use Telos tokens or wallets on Ethereum.
· Telos uses an account-based model instead of a UTXO-based model. This makes it easier to develop applications on Telos.
· Telos has a built-in governance system that allows users to vote on proposals to improve the network.
· Telos has no fees for transactions or smart contract deployments.
Overall, Telos is a promising platform for developers who want to build decentralized applications. The platform has some unique features that set it apart from Ethereum, and it is backed by a well-known company (block.
one). However, only time will tell if Telos will be successful in attracting developers and users.
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