*July 19, 2018 Telos Update:*
***Telos Network is no longer giving 1M TLOS per Block Producer***
“The original approach elicited some concerns from the community that paying 1M TLOS tokens to each of 6 ABPs may overly centralize the rewards. On reflection, the community’s point is well taken. TLG members agreed that the original approach is too rigid and centralized in its rewards. Instead, the TLG will establish a Telos Founders Reward Pool of 6M TLOS that will be distributed amongst a much broader group of participants based on their contributions. This approach better distributes the rewards and also encourages new partners to join the group throughout the launch process, rather than just in the beginning. Each member’s contributions will be tracked week-to-week in order to determine their share of the TFRP. The exact method of distributing these funds is to be discussed and hopefully decided this coming week.”
https://medium.com/@teloslogical/telos-network-weekly-report-july-19-2018-111dec3edc7b
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• Telos YouTube Channel: https://www.youtube.com/channel/UC1eRSAt81jUf7zM4hsy5S5Q
• Telos Testnet already exists and is running now: http://testnet.telosfoundation.io.
• Telos Website: http://telosfoundation.io/
• Telos GitHub: https://github.com/Telos-Foundation
• Telos White Paper: http://colintalkscrypto.com/files/telos_white_paper_7_12.pdf
(copied to my domain for historical reasons to preserve the file in case it changes, and to prevent broken links in the future in case the file name changes)
Today we’re going to dive a little deeper into Telos. Telos Network reached out to me and provided me with some additional information. So I wanted to pass this along to you guys.
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Quotes from Telos Network:
“Telos actually does have an active network right now in the form of the Telos Testnet with 30 block producers on it at the moment.”
“To get your tokens, just use your EOS wallet and point it to the Telos chain. (There will be updates of Greymass, Simpleos, and Scatter by this point to accommodate new blockchains.) Your PUBLIC key addresses will be the same except they will begin with TLOS instead of EOS. (You can already see this on our testnet – testnet.telosfoundation.io.) Just vote to activate the chain and pick your favorite BPs. Once the network activates you can use your tokens. NEVER give out your private keys! No one from Telos will ever ask for them.?”
“We know we will have to earn people’s trust, be we are working hard to do that!?”
“Telos is giving developers the option not to open source their DApps if they don’t want to. On EOS, all DApps must be open source according to the current Constitution. Also, RAM prices will be lower and more stable on Telos.?” (They don’t go into how the RAM prices will be lower and more stable on Telos– maybe this is in the whitepaper).
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• Every EOS wallet will work with Telos. This includes Grayness (who is actually working with Telos to ensure compatibilty).
• All EOS dapps will run on Telos. However, this brings into the factor of “network effect” as companies and dapps will most likely want to build on the more popular chain. So we’ll have to see how much traction there is.
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My questions are:
1.) How will you fund Telos?
2. ) I’m curious what Dan’s response to Telos will be. And if block.one does decide to adopt the best features into EOS, what will Telos Network’s response be to that?
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