Many people were thrilled to hear about Ethereum 2.0. It was going to solve the problem of sustainability and transaction scaling. Ethereum 2.0 didn’t address an issue that crypto investors face today, which is FRONT RUNNING. The problem led to the loss in thousands of dollars and is still causing more. Imagine the joy on people’s faces when Telos, a popular third-generation blockchain, announced their new EVM that claims to solve this problem and many more. Yes. It’s exactly what you had hoped for. Finally, there is hope. But before we get a little too delighted, let’s get a clear picture of how Telos will solve this problem and outperform other systems.
Telos EVM was designed to address problems that other EVMs face. Telos EVM has many parts that seem to address different network problems. Telos EVM works just like Ethereum, but it’s different from the original EVM. It was designed to be able to store a lot of different programs, from various networks.
Even though Front running is very common in the crypto world today, and it’s why many people lose millions of dollars, not many people know about it. That’s because it happens without them even knowing. Front running occurs when robots and miners have insider information on pending trades to make a profit. An individual involved can bypass lines and complete transactions. Then, he takes the difference between buy and sale price as profit. This is how the attacker earns a profit. Users don’t benefit. Telos has a fixed transaction charge and a strong anti-frontrunning rule. It will allow users to reduce the chance of being exploited.
Telos also sets the bar in the area of transaction fees. Many platforms cannot boast low transaction fees. Native Telos charges no fees and Telos EVM, which is based on the same model as Ethereum’s original Ethereum, costs $0.01. Telos EVM can save you hundreds, if not even thousands of dollars because Ethereum gas fees tend to be high. Telos EVM not only beats all its competition like Polkadot or Cardano but also outperforms original Ethereum.
You can mine one block in a different time depending on how long it took and what variables you have. Ethereum is the decentralized app king and it takes around 10-15 seconds to mine one block. While Cardano and Binance smart chains can boast faster transactions, nothing compares to Telos EVM. Telos EVM is the block miner with the fastest times. Telos takes less than 500ms to mine a block. Its transaction speed further increases the gap with its rivals. It can process 10,000 transactions per second thanks to its block-time speed.
Because of its low energy consumption, Telos has been deemed the most green blockchain. Telos offers a host for several Dapps via its network. Telos can be used with Vyper and EOSIO C++ to provide a unique experience for users migrating. It is easy to migrate from other apps using Telos EVM at 95%.
Cryptopunks will be the first project in the network. This is an NFT popular project. The Big Gooey is an NFT artist and creator. This is the ERC_721 first NFT to be hosted on dStor. This project can be found on Telos’ official website.
Recently, they announced partnerships with SushiSwap (and Anyswap). So now the users on both platforms can take the advantage of Telos EVM’s scalability, speed and security while trading their crypto assets.