Telos EVM Keeps Up With Requirements of Blockchain Tech’s Mass Adoption

  • EVMs are blockchain-enabled software platforms or distributed ledger technology (DLT).
  • The TLOS Decide Governance engine enables stakeholders to vote and make decisions.

Ethereum or EVM virtual machines are blockchain-enabled software platforms or distributed ledger technology (DLT). They allow application developers to create decentralized applications (dApps). Software architects really value them as they don’t have really long downtimes and they have the ability to keep created application objects safe from being tampered with.

If you want to get started with EVM, you don’t have to be a skilled encoder. That’s because the software is pretty easy to use, and it also eliminates the need for really powerful hardware.

Telos EVM now live

Recently, the Telos (TLOS) EVM he started. Its Decide Governance engine enables stakeholders to vote and make decisions together, as a community. The Telos blockchain uses Decide to make changes to the platform and network governance. Projects can use Decide in conjunction with their own crypto currency or token. This capability is not provided by any other Layer 1 chain. These features are truly unique and available only with Telos.

This type of governance solution allows projects to easily connect and use these services. Even other Layer 1s can use the Telos governance engine and in doing so would make an ideal example of a blockmesh environment.

With the innovative Telos model, “the best idea wins.” It is a true democracy as all token holders get one vote and unlike some of its competitors, Telos Block Producers (BP) are bound by the operational agreements of the Telos Blockchain Onchain network. TBNOA to implement those ideas.

It is worth noting that there are many other blockchains that have their own governance protocols and ways of providing EVM, such as Polkadot (DOT), Tezos (XTZ), and Cardano (ADA). While these DLT networks have managed to attract a fairly large number of users, they are still unable to offer the overall speed, capacity, or level of decentralization that Telos (TLOS) provides, which Blocktivity has consistently rated as one. of the highest performing chains in the industry.

Telos is the most versatile blockchain

Furthermore, Telos is also the most versatile blockchain, as it can generate blocks for more than 95% of decentralized applications (dApps) with support for widely used object-oriented programming languages ​​such as C ++, Solidity, and Vyper. No other chain on the market can offer this level of functionality.

Douglas Horn, Chief Architect of Telos, CEO of GoodBlock, has previously explained that the Telos blockchain has offered innovative governance features since the initiative first launched its mainnet in December 2018.

But recent updates from Telos Core Developers have succeeded in putting Telos governance ahead of all other blockchain projects by bringing truly powerful, participatory, and smart contract-driven features to the Telos blockchain.

These chain-level tools have also been integrated with the dApps implemented in Telos so that they can tailor the solutions to their own governance requirements. This comprehensive set of software tools, called Telos Decide ™, enables dApps to seamlessly incorporate decentralized governance features such as initiative ballots, committee or trustee elections, and committee management with configurable ballots that can invoke smart contract actions once completed. This can include assigning account and fund control, completing transfers, setting configuration parameters, or managing permissions.

Douglas Horn Explains the Advantages of Participatory Blockchain Governance

As Horn explained, participatory blockchain governance is useful because it allows a project to adapt based on the priorities or preferences of its members. The key advantage of this is that it prevents communities from dividing “on the basis of unresolved divisions in the priorities of various subgroups,” Horn said.

He also noted that the ability to transparently poll an initiative’s community serves this purpose of constantly resynchronizing different groups so that “entrenched factions are less likely to emerge.”

According to Horn, another important advantage is that of “fluid governance decisions” that provide the ability for continuous iteration in the operation of the chain to optimize various parameters over time “as a modus operandi that allows experimentation that can be reversed. or adjust quickly if it is detrimental, or gradually expand when changes are beneficial. “

Horn explained that the governance of Telos includes the validation of the choice of nodes, the amendment of the governance document, the allocation of funds from the work proposal and the effective resolution of disputes.

As Horn pointed out, the term 3rd generation blockchain generally refers to actual blockchain protocols. In this type of model, Bitcoin is a first-generation chain based on proof-of-work consensus. Meanwhile, Ethereum is a second-generation chain that adds the option to execute smart contracts, but still uses proof of work.

Blockchain governance has entered a third stage

Then EOS and Tron are third-generation blockchains that use delegated proof of stake (DPoS) consensus mechanisms to enable significantly higher speed, capacity, and computing power to support smart contracts with new features like simple account names and no transaction fees. But with advancements in blockchain governance tools and protocols, blockchain governance has entered the third stage, Horn wrote in a blog post.

In particular, the Telos EVM was recently launched. It is a Layer 1 Ethereum virtual machine, built specifically to power Web 3.0. Telos EVM serves as a scalable solution for Solidity-powered applications, built with the goal of optimizing the DeFi ecosystem. Unlike other scalable EVMs, Telos EVM is not simply a fork (or upgrade) of the original Go Ethereum code. It is a completely new EVM that has been redesigned to take advantage of the power that Telos technology claims to offer.

This unique approach enables Telos EVM to avoid many of the scale issues that can arise with large EVM alternatives. Telos EVM also offers feature parity with Ethereum, making it an ideal solution for application developers and end users looking for an EVM that can meet mass adoption requirements.

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