Ethereum is slow, Ethereum is expensive but Ethereum is everywhere. How do you deal with that reality? Well, you build on the top of it to improve it. In other words: an embedded virtual machine decreasing the costs and increasing the speed of transactions while making them greener but still using the Ethereum Solidity language to write the smart contracts. That’s the bet of Telos and its TLOS token.
1. What is Telos?
Telos is a platform to build faster and cheaper smart contracts on Ethereum:
With Telos, you have it all!
What I like about the project is that it’s building on the top of Solidity, capitalizing on Ethereum success while being greener, faster, cheaper:
That was for the video summary.
But if I had to summarize it with one picture, it would be this one:
2. The project and the team
First, the management team is a good mix of profiles:
Then, it’s very important to me, there are plenty of core developers:
I like to see a community of builders, organising hackathons around the product:
This means that the project is alive and actively being worked on.
Finally, the roadmap 2022 is HUGE: see here. Telos is paving the way to mass adoption of Web 3.0 by developing innovative decentralized solutions with real-world applications. The Telos Core Developers and Product Team will determine development priorities every quarter considering needs, opportunities, and available resources. Here’s what we’ve got in store for Telos in 2022 and beyond!
Firstly, this groundbreaking tool will revolutionize DeFi, empowering traders to ensure that their trades will be successful before transacting. SureProfit will allow users to check their balances before finalizing a transaction and cancel any that would result in a net loss for the end-user. When paired with near feeless transactions, this powerful tool makes it possible to begin building wealth with as little as a dollar.
An identity solution combines two significant needs for identity. The first is the need to determine the uniqueness of an individual account’s identity. The second is the ability for a user to have the information verified by third parties without leaking private information. Eventually, users will be able to share select information with apps while keeping control of what they share. Certificates issued will be linked to these details. This product will be crucial as the industry evolves and the needs of governance and DeFi become more complex. The Telos Core Developers have partnered with the original developers of the Estonian National Identity system, the first and most successful blockchain identity system globally.
Telos Profiles 2.0
Your passport to Web 3.0, Telos Profiles is a decentralized user profile service built to facilitate a more engaging ecosystem. It allows users to set a custom avatar and public persona associated with their account. Then, projects can utilize this as a network-wide profile solution for familiar in-app experiences. Telos Profiles 2.0 will offer an updated UI and easy-to-navigate tooling, unlocking the full potential of decentralized user profiling.
Mural NFT Market & Gallery
With extremely low minting costs, no front-running, and a low carbon footprint, the Telos EVM intends to be the most artist-friendly platform across the industry. The Mural NFT Market & Gallery is key in facilitating this thriving creative ecosystem. Buy, sell, trade, and display your NFT collections easily and grow your decentralized artwork portfolio.
Telos Private will enable completely private “zero-knowledge proofs” (ZK) transactions for Telos users. It will employ a separate side-chain with modified code to allow ZK transactions and bridges to and from Telos. The side-chain will be decentralized and run by the Telos block producers, selected through user voting.
Telos Location allows proof-of-location using the Telos blockchain while incentivizing users to carry out “location mining” for the system. With this product, anyone will be able to verify that they were in a specific location at a particular time. This product opens up many possibilities for dApps, DAOs, and other decentralized initiatives. Telos Location is a long-term development goal and is not expected to be completed in 2022.
3. Telos as an investment
First, the TLOS price is currently sitting above the summer low with impressive volumes:
Then, the number of TLOS addresses is going up (even if this is little):
Also, the centralization is going down, which we want to see:
Eventually, the TLOS market cap is medium (so is the risk), 180 million USD:
The TLOS asset is not listed on Binance and Coinbase leaving a lot of room for future adoption:
However, what about the Github account? I like to see a lot of activity on there (I explain why here).
For example, today is Saturday and the last commits are from 17 hours ago, good point:
Also, I like to see a lot of core developers contributing on Github. What is “a lot”? For small altcoins, I’m after a couple of developers (2-4) minimum. Alternatively, for medium size altcoins (hundreds of billion), I like to see 10+.
It’s the case here:
I like Telos for building on the top of Ethereum, acknowledging Solidity as THE smart contract language. The fact that it’s improving everything like the transactions speed, cost and energy consumption is a perfect cocktail. The roadmap is endless: DeFi, T-ID, NFTs, location mining and more. From an investment point of view, the project is being worked on (good activity on Github) with the price getting a bit more de-risked everyday while seeing a strong level of volumes for an altcoin in a bear market. Finally, the potential upside of upcoming listings like Binance or Coinbase gives room for upside price movements in the future.
Disclaimer: this is not financial advice