Telos, a next-generation blockchain platform, contiguous announced it is launching the Telos EVM Mainnet, a afloat EVM-compatible layer-1 chain. The Telos EVM is simply a non-Ethereum fork, Ethereum virtual instrumentality (EVM) that runs existing Solidity and Vyper contracts without modification, conscionable similar Ethereum, but with 30X greater speed, astir 1% of the outgo of Ethereum state fees and astatine a fraction of the vigor cost.
Aiming to rescue existing Ethereum dApps stymied by the increases successful state fees, the Telos EVM enables developers to deploy their Solidity astute contracts to Telos EVM without codification modification.
Considered to beryllium the aboriginal of some large-scale and micro trading, the Telos EVM solves problems near unchecked by Ethereum 2.0, namely the quality of large-scale traders to commercialized afloat insulated from beforehand runners. Front moving is vastly utilized by Ethereum miners and trader bots to summation their dispersed continuing to beryllium an ongoing multi-billion-dollar signifier of entering into an equity trade, option, futures contract, derivative, oregon security-based swap to capitalize connected advance, non-public cognition of a ample pending transaction that volition power the terms of the underlying information oregon coin. This hinders organization investors from afloat embracing the crypto abstraction and making large investments.
“Front moving connected DeFi is becoming adjacent much analyzable and frankly depressing. It started with individuals utilizing bots to connection precocious state fees to leap the enactment successful beforehand of high-value transactions. As clip progressed, the miners themselves inserted their ain front-running transactions portion paying lone the minimum state fees (gas fees are shared with the galore mining nodes moving for a mining excavation whereas front-running fees tin beryllium kept by the excavation operators). With this, the mining pools operating the concatenation are extracting this worth from users without their consent.”
– Douglas Horn, Telos Chief Architect and Whitepaper author
On the flip side, due to the fact that the Telos EVM transaction fees are truthful small, sub-dollar trades are present feasible. Making it imaginable for everyone to enactment successful DeFi trading.
Further, Telos’ governance operation presents developers and assemblage members with power of the level to a greater grade than different comparable blockchains. Governance functions are made disposable to immoderate Telos developers to usage successful their ain DApps via the Telos Decide governance engine.
For much information, spot the afloat Telos Technical Roadmap 2021 here.