Do you have the keys to make your blockchain successful?
- EOSIO Telos
Many specialists have come to the conclusion that solid development is needed for blockchain technology to succeed, and therefore there are areas of specific opportunities, the blockchain that applies them will be a chain of success, because it will be strengthened, among these opportunities find:
2.-Gain legal support.
4.-Cost reduction and less complexity.
5.-Set standards and interoperability.
It is estimated that the GitHub code repository has more than 6,500 active blockchain projects, but these use various platforms with multiple coding languages, protocols, consensus mechanisms and privacy measures. This technology will have to be standardized so that it is easy to adopt and develop improvements on it.
Has the Telos ecosystem taken advantage of these areas of opportunity?
Great question. I think that your list of criteria is good. So how does Telos fare on each of these? (Spoiler alert, REALLY well!)
Improve Performance: Telos is one of the highest speed, highest capacity blockchains in the world. We've been a steady #2 on blocktivity.info for weeks now.
Gain legal support: Telos should have amongst the lowest regulatory exposures around. First, we never performed an ICO or any other sale and did not release any TLOS tokens before the chain was live. Next, the chain is truly decentralized and there is no company that users should look towards as being responsible for the chain. Instead, Telos is managed by about 60 competing companies around the world voted in by token holders. Third, the US SEC has said that they will not pursue Block One over the EOS token sale and Telos used 99% the same distribution list so it would be difficult to pursue Telos without pursuing Block One, which cannot happen now. Finally, the TF has been pursuing a legal opinion letter from a top US crypto law firm finding that Telos is not a security under US laws.
Increase consortia: I'm unsure about this. If consortia is to mean governance by users, then we are way out in front. If it means joining industry alliances, then we have begun this as well, joining some trade alliances and blockchain industry groups.
Reduction of cost and complexity: Telos is very low cost to operate a dapp on, probably the lowest cost at the moment. Our elimination of gas fees is part of this. So are our free accounts and move towards limited universal basic transactions (UBTX). Complexity is coming down as well with our new tools and interfaces.
Set standards and interoperability: Telos is participating in IBC and other standards for interacting with other chains. You will see more of thisin the near future.
All told, I think Telos is ideally suited to be the blockchain layer to empower the economy of the future.
I hope that Telos will take advantage of all the opportunities of the Blockchain, the idea is that it focuses and goes to a safe place, I am new I hope to do well in this Platform.