EOS Sister Chain ‘Telos’ Launches; Lookalike Coin Benefits
Telos, a blockchain based on EOS’s EOSIO protocol, has experienced its first full week of activity. The platform was launched earlier this year in a limited capacity, but the Telos Launch Group decided to delay a full release indefinitely.
On December 8th, the group finally decided to launch the platform. It took some time for the launch to actually be executed, but now, the first week of activity has concluded. Creator Douglas Horn writes:
“I would not have chosen to launch the network just before [Christmas] but it was a good test. The chain survived. New users discovered it, and the TLOS token even started trading with a bit of volume.”
This means that Telos now provides a viable alternative to EOS, and it introduces a few interesting features. However, Telos’ place in the crypto market is still uncertain, and the new coin seems to have created some confusion.
Telos vs. EOS
Like EOS, Telos relies on elected block producers to decide the course of its blockchain. However, EOS has attracted controversy due to the fact that “whales” who hold a large amount of tokens can exercise significant control over voting. Telos prevents this by ensuring that no single genesis address can control more than 40,000 tokens.
In addition to block producers, the project has also elected a Board of Directors. This group mainly serves to promote Telos and provide advice regarding resource prices. If RAM is in high demand, the Foundation will encourage block producers to increase their RAM supply in order to drive down prices.
Horn has noted that RAM is “purring along without incident” and that a brief price surge was quickly resolved. EOS, of course, has been struggling with high RAM prices, and Horn is confident that RAM and CPU will be available at a fraction of their price on EOS. This could attract app developers to the platform, as they are responsible for paying these costs.
Suggested Reading : Take a look at our picks for the best EOS wallets.
Telos and the Market
As Horn notes, the Telos token (TLOS) is now being traded in small volumes. Market aggregators are not yet publishing data on the coin, but one exchange does provide a price: on December 28th, ChainRift was trading the coin at 0.032 EOS (or 8.6 cents).
It is likely that the price of TLOS will change significantly in the coming weeks, and unlikely that the coin will close in on the value of EOS itself. That said, at least one other EOS fork has performed quite well: WAX is a top 100 coin, and it is possible that Telos could surpass it.
Interestingly, a low-ranking coin that is not associated with the Telos project seems to have benefited from Telos’ launch. Transcendence—an unrelated token with the TELOS ticker—surged in price on December 9th, around the time of the Telos launch.
Presumably, at least one investor purchased quite a lot of the lookalike coin by mistake—or with the intent to sell it fraudulently—and drove up the price. Alternatively, an exchange may have mistaken the two coins and adjusted the price incorrectly. For clarity, Telos’ ticker label is TLOS, not TELOS, and is not listed on most exchanges.
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