LIMITATIONS OF THE TELOS BLOCKCHAIN AND HOW TO FIX IT

CONTENT OUTLINE

1 Introduction

2 About Telos Blockchain

• 2.1 How Telos Blockchain operates

• 2.2 The problems that telos blockchain solves

3 Limitations and solutions to the problem of the telos blockchain

• 3.1 Telos dapps limitations and solutions
• 3.2 Telos Blockchain Economy and solution
• 3.3 Telos UI/UX limitations and solutions

4 More information about Telos Blockchain

• 4.1 Video about Telos Blockchain
• 4.2 Comparism of telos blockchain against other blockchains
• 4.3 Telos blockchain social media

5 Conclusion

• 5.1 References

1. INTRODUCTION

Telos means “the ultimate purpose of a thing.” Aristotle used the example that, “The telos of an acorn is to become an oak tree.” I would like to share what, to me, is the telos of Telos. Here is what I hope the Telos network will become.
Telos (TLOS) is a smart contract blockchain running on EOSIO software.
Telos makes use of Delegated Proof of Stake (DPOS) consensus. TLOS is the native currency of Telos and is used for acquiring resources for decentralized applications (dApps), voting for block producers, worker proposals, election arbitrators and other on chain governance.
The governance features used by Telos' core system are available for dApp developers to include in their projects.
Telos is a blockchain that offers their dApp developers 0.5 second block times, transaction rates as much as 1000 transactions per second, and free transactions.
Developers on the telos blockchain can reportedly build blockchain applications that provide a similar user experience to conventional mobile, and personal computer applications.
Telos blockchain went live in December 2018 using a modified EOS genesis snapshot (the result of the EOS token sale) where all accounts were capped at a maximum of 40000 TLOS.
This resulted in a broad and relatively equitable initial distribution of approximately 300 million tokens EOS genesis account holders. 18 million tokens were granted to the founders of the chain and 6 million to the Telos Foundation.
The current supply of TLOS is 355 million and token inflation is 0%.
On telos you can deploy as many dapps as you want, you just need to be able to build it and make it user attractive.
The telos blockchain, is EOSIO compatible because you can write the same code meant to deploy dapps on EOS mainnet and deploy them on tellos. That is actually one of the most interesting thing about telos.
Telos is free for everyone, anyone can join the network, submit a good worker proposal, vote for worker proposals, arbitrators and block producer.
The telos blockchain is very scalable.

2. ABOUT THE TELOS BLOCKCHAIB

2.1 How Telos Blockchain operates

Telos blockchain operates in a very unique way compared to EOS blockchain and other EOSIO blockchain.
Telos is a next generation blockchain that runs the same codebase as EOS. Telos is supported by over 50 Block Producers and its very own Foundation. Telos never ICOed, but rather bootstrapped itself and launched as a fully functional network in December of 2018. It’s awesome.

Telos is crazy fast, producing blocks every 0.5 seconds. Up to 8,000 transactions per second are currently possible.

A community grant program guarantees that the first 1 million user accounts on Telos are free to create. Moreover, RAM – a secondary token that allocates computational resources – is cheap and stable.

PROPRIETARY CODE
EOS requires dapps to open-source their code. Not Telos. You have every right to deploy proprietary technology to the Telos blockchain.

USER FRIENDLY
Spending crypto and managing keypairs creates friction for end users. With Telos, your users can interact with your dapp like any ordinary web app.

DEVELOPER FRIENDLY
Build powerful contracts in C++. Easily port dapps from EOS (or any other EOSIO sisterchain) to Telos. Join a welcoming developer community.

2.2 The problems that telos blockchain solves

1. Economic Decentralization:
   The Telos blockchain removes the extreme economic power of a small number of "whales" by clapping the value every address in the genesis snapshot at 400,000 Telos Token, it will Eliminate whales control of block producer selection and token holders voting and complete removal of the Whale address.
2. Stability Of The Telos Blockchain:
   The Telos network is likely to be more stable because block producers will be selected by voting from a broad community based on capability rather than a small number of whales based on affiliation. Also, block producers who fail to produce blocks will be rotated out within 30 minutes (180 missed blocks) as opposed to 3 hours. Additionally, standby block producers will be enabled and required to produce blocks every 3-7 days in order to prove they are constantly ready. This semi-regular schedule provides needed downtime for block producers to maintain and update their servers, lowering the cost of operation.
3. Telos is a good place for Developers:
   Developers are likely to prefer the Telos system because they may designate some DApps as proprietary and therefore worth their development investment, Telos network exists to provide a reliable, affordable, well managed network for developers to release DApps, it puts in place these fuctions: Proprietary DApps allowed, Lower cost DApp deployment, Fewer network pauses, Enhanced Security, Public testnet operated by BPs, Telos/Eos mainnet compatibility

3 Limitations and solutions to the problem of the telos blockchain

Telos blockchain has a lot of limitations and I will do well to write about the solution to those limitations here.

3.1 Telos dapps problems and solutions
Some dapps on telos blockchain are not very efficient or popular amongst blockchain enhtusiasts and potential users. All though telos blockchain has a lot of dapps but it does have low amount of people using those dapps.
Professed solution:*

• Telos blokchain should undergo a lot intense promotion on different social medias inlcuding blokchain oriented media like steemit and hive.
• Telos blockchain should support worker proposals who's focus is on promotion to onboard users or developers to assits those dapps thrive and become better.

3.2 Telos Blockchain Economy and solution
The telos blockchain is currently undervalued economically as the value still remains below 30 cents. this is because the TLOS coin is listed on low liquidity exchanges which are not popular to attract potential buyers.
proffered solution: Telos blockchain should get their TLOS coin listed on high liquidity exchanges like binnace, kucoin, huobi-pro etc.
That way would lead to n increase in the economic value of the coin.

3.3 Telos UI Limitations and solutions
The telos blockchain really has an unsimplified user interface, especially the SQRL wallet and others. Although other EOSIO projects may seem complicated in the same manner because of the current version of the EOSIO software.
Proffered solution:
Telos Blockchain should adopt great front end designs to display the savvy backend designs from teloa developers in a very good manner.

4 MORE INFORMATION ABOUT TELOS BLOCKCHAIN

4.1 Videos about Telos Blockchain
https://www.youtube.com/channel/UC1eRSAt81jUf7zM4hsy5S5Q

4.2 Comparism of telos blockchain against other blockchains.
Telos is a very fast and scalable network compared to EOS, although they both use the same software (EOSIO) telos has more advantages than EOS.

• Telos and EOS are compatible, meaning you can write the same smart contract which you want to deploy on EOS chain and explodes them on Telos Chain.
• Ram Fee on Telos is way cheaper on Telos compared to EOS.
• Telos is a community blockchain, No CEO but it host different autonomous group and everyone on telos has a day through the telos governance system and telos decide.
• Voting for block producers on telos is different compared to EOS.
  On telos the system uses, "Inverted weighted voting" whereby you have to vote for at least 30 block producers before the weight of your vote, balances compared to voting 100 to 1 or few block products that happens on EOS.

COMPARISM OF TELOS BLOCKCHAIN GOVERNANCE WITH OTHER BLOKCHAIN GOVERNANCE

For the blockchain industry to grow bigger, Governance is an important field of growth for the blockchain industry. New developments have advanced the state of the art of blockchain governance to a crucial third generation distinct from previous advances. Third-generation blockchain governance is characterized by a high degree of protocol-level, participatory governance that is extended to dapps and DAOs deployed on the blockchain as well.

Third-generation Blockchain and Governance
To date, the term, third-generation, in blockchain has referred to the blockchain protocols themselves. In this model, Bitcoin is a first-generation blockchain based on proof of work consensus; Ethereum is a second-generation blockchain which adds the ability to run smart contracts but still uses proof of work; and EOS and Tron are third-generation blockchains using delegated proof of stake consensus mechanisms to allow much greater speed, capacity, and computing power for smart contracts with ease of use features such as simple account names and no transaction fees. However, with recent advances in blockchain governance tools and protocols, blockchain governance, itself is now entering a third age.

The three generations of blockchain governance are:

First-generation governance (e.g. Bitcoin):
The blockchain is governed by its protocol to ensure that blocks and transactions are valid. The process of updating those protocols, however, is an off-chain process.

Second-generation governance (e.g. Tezos):
The blockchain’s protocol applies to validating blocks and transactions but also includes an on-chain method to update the protocol, itself.

Third-generation governance (e.g. Telos):
The blockchain’s protocol provides methods for validating blocks and transactions, for updating the protocol and other governance functions, and extends these protocol-level governance functions to dapps an DAOs deployed on the blockchain as well

4.3 Telos blockchain social media
https://telosfoundation.io
https://telosnetwork.io
https://link.medium.com/pQ3rnRFDc5
https://twitter.com/hellotelos
https://t.me/hellotelos

5 Conclusion

• 5.1 References
  https://link.medium.com/pQ3rnRFDc5
  https://nairaland.com/teloswriter1/topics
  https://www.youtube.com/channel/UC1eRSAt81jUf7zM4hsy5S5Q