Telos launches EVM-compatible layer-1 chain to eliminate crypto insider trading

Telos, a next-generation blockchain platform, today announced it is launching the Telos EVM Mainnet, a fully EVM-compatible layer-1 chain. The Telos EVM is a non-Ethereum fork, Ethereum virtual machine (EVM) that runs existing Solidity and Vyper contracts without modification, just like Ethereum, but with 30X greater speed, around 1% of the cost of Ethereum gas…
Telos launches EVM-compatible layer-1 chain to eliminate crypto insider trading

Telos, a next-generation blockchain platform, today announced it is launching the Telos EVM Mainnet, a fully EVM-compatible layer-1 chain. The Telos EVM is a non-Ethereum fork, Ethereum virtual machine (EVM) that runs existing Solidity and Vyper contracts without modification, just like Ethereum, but with 30X greater speed, around 1% of the cost of Ethereum gas fees and at a fraction of the energy cost.

Aiming to rescue existing Ethereum dApps stymied by the increases in gas fees, the Telos EVM enables developers to deploy their Solidity smart contracts to Telos EVM without code modification.

Designed to be the future of both large-scale and micro trading, the Telos EVM solves problems left unchecked by Ethereum 2.0, namely the ability of large-scale traders to trade fully insulated from front runners. Front running is vastly used by Ethereum miners and trader bots to increase their spread continuing to be an ongoing multi-billion-dollar practice of entering into an equity trade, option, futures contract, derivative, or security-based swap to capitalize on advance, non-public knowledge of a large pending transaction that will influence the price of the underlying security or coin. This hinders institutional investors from fully embracing the crypto space and making major investments. 

“Front running on DeFi is becoming even more complex and frankly depressing. It started with individuals using bots to offer high gas fees to jump the line in front of high-value transactions. As time progressed, the miners themselves inserted their own front-running transactions while paying only the minimum gas fees (gas fees are shared with the many mining nodes working for a mining pool whereas front-running fees can be kept by the pool operators). With this, the mining pools operating the chain are extracting this value from users without their consent.”


– Douglas Horn, Telos Chief Architect and Whitepaper author

On the flip side, because the Telos EVM transaction fees are so small,  sub-dollar trades are now feasible. Making it possible for everyone to participate in DeFi trading.

Further, Telos’ governance structure presents developers and community members with control of the platform to a greater extent than other comparable blockchains. Governance functions are made available to any Telos developers to use in their own DApps via the Telos Decide governance engine.

Roadmap 2021

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

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Derivatives exchange SynFutures adds new multi-chain trading with Celer integration
Read More

Derivatives exchange SynFutures adds new multi-chain trading with Celer integration

Related News SynFutures, a crypto derivatives trading protocol, today announced that it will deploy its protocol on Arbitrum, an Ethereum layer-2 scaling protocol. With the announcement, SynFutures will become the first DeFi derivatives project to be... Read more ​​​​​SynFutures, a decentralized derivatives exchange, has announced it will launch Bitcoin (BTC) hash rate futures, a derivative…
Tatum’s C# SDK is now live to quickly build blockchain apps for 40+ protocols
Read More

Tatum’s C# SDK is now live to quickly build blockchain apps for 40+ protocols

Tatum, a blockchain development platform, has today announced the launch of its new C# based SDK. With the latest Tatum C# SDK, users can build full-fledged apps for over 40 blockchain protocols. The C# SDK offers over 300 API endpoints, and developers can perform a wide range of blockchain operations on any supported blockchain, from…
European exchange Bitvavo links with Mercury Redstone to allow easy access to crypto indices
Read More

European exchange Bitvavo links with Mercury Redstone to allow easy access to crypto indices

Bitvavo, a European crypto exchange company, has announced a new partnership with Mercury Redstone, an Amsterdam-based digital asset management firm specializing in index investing. This collaboration will allow Bitvavo users to automate crypto investment strategies from the safety of their Bitvavo accounts. Partnership: Mercury Redstone + Bitvavo Mercury Redstone offers users the ability to invest…
Navigate (NVG8) raises $7M to build crypto-based data monetization ecosystem
Read More

Navigate (NVG8) raises $7M to build crypto-based data monetization ecosystem

The Navigate platform will be a launchpad for future innovation, where anyone can find and license the data needed to build a new class of applications... Related News Hex Trust, a fully licensed and insured provider of bank-grade custody and associated services for crypto-assets in Asia, announced today it has obtained provisional approval from the…