Scalable DeFi platform Telos EVM is on its way to become a blockchain giant, competing with the likes of Ethereum, Polygon and Binance Smart Chain. Already surpassing their block production ability in quantum fashion, the smart contract platform is the most capable one available to date.
Getting ready to Launch over the next few weeks, the new TelosEVM mainnet will be running off of their super energy efficient 3rd generation layer 1 mainnet that has been serving eosio c++ based smart contracts since 2018. The platform uses an EOSIO Delegated Proof of Stake model, with over 50 block producers in total. The block producers do not have any minimum staking requirements as per the blockchain system and instead are held by strong contract requirements as well as intervention by other block producers.
With half-second blocks, Telos is 440% faster than Ethereum’s current rescue boat, Polygon/Matic. Telos EVM or Telos Native are both 30 times faster than Ethereum and 10 times faster than BSC and its capacity is between 100 to 500 times these two chains. Its gas fee is as low as just 0.01% of the recent Ethereum gas fees. As it’s fees are almost invisible so is its energy consumption. At only 0.000002 kWh per transaction, Telos is by far the greenest layer 1 available and with some off setting it is currently on its way to becoming carbon neutral.
In addition, Telos is the only Ethereum Virtual Machine that is preventing front-running. An unethical practice that basically involves theft of value while trading. Front-running occurs so seamlessly that most traders are not even aware that it happened. The good news is that the many Defi projects that are currently plagued with front running would find instant relief just by simply selecting to use the Telos EVM. That choice alone will better serve their project and the millions of users that support it.
Also compared to the three most popular blockchains, the Telos EVM delivers to its users access to DeFi at levels as low as a couple of dollars. A trader will be able to make single dollar trades that are profitable. To further put into perspective the real world readiness of Telos, imagine buying a slice of pizza with crypto, a $2 slice could potentially cost you over $30 with Ethereum gas fees. Yet with the TelosEVM it could cost less than $2.003 for that same slice of pizza. As you can see, with TelosEVM small trades are now economically rational and feasible. Combine these real world ready monetary solutions along with Telos’s capacity / speed and it is fair to assume that large partnerships with big tech or world governments make a lot of sense. Telos has stated that the transactions are free on Telos Native.
Telos EVM is #RealWorldReady for DeFi
On the developer side, the team expressed their sincere excitement for making their project available to developers. They said, “The addition of Telos EVM to our already existing C++ smart contract platform base makes Telos the only blockchain to support the two leading standards EVM solidity and EOSIO C++ for smart contract development. We love being able to extend our labor of love to support the Ethereum network and all the great dApps and Defi that are cleverly built in solidity. We feel that developers are going to really appreciate our EVM, our adoption of metamask and our streamlined google sign-in feature. We are super excited to better serve the crypto community.”
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