Telos Introduces Layer-1 Ethereum Virtual Machine to Revolutionize the DeFi landscape
Telos is bringing leading-edge innovation to the blockchain ecosystem for users to enjoy an exceptional experience. Telos EVM is a scalable solution for Solidity-based applications designed to revolutionize the DeFi landscape, power Web 3.0, and offer game-changing solutions to industry-wide problems ranging from skyrocketing gas fees, speed and scalability gaps, and front running.
Ethereum remains the leading ecosystem for DeFi and NFTs in the crypto industry. However, exorbitant gas fees on the network, poor scalability and front-running, for the most part, inhibit the potential advantageous edge for retail traders. Although several individuals believe the smart contract blockchain is worth the cost, gas fees have been a major topic of discussion as not all users are well equipped to pay high transactional fees. At the highest level, the requirement to pay high fees in order to execute transactions undermines the blockchain’s central pillar of inclusivity while giving rise to the front running phenomenon.
However, Ethereum Virtual Machines can tackle the issue of high gas fees and front running, fostering inclusivity in the crypto space. Ethereum Virtual Machines are virtual environments that allow smart contracts to interact with each other. Telos seeks to revolutionize the DeFi landscape, solving problems and offering interesting solutions with EVMs.
Scalable EVM will lead to minimal issues
Telos EVM is the most powerful and scalable Ethereum Smart Contract platform available today. The innovation is dedicated to establishing a scalable landscape of minimal issues. Compared to other EVMs, Telos EVM is far more than just a fork of the original Go Ethereum code. Developed by a team of future-oriented experts and visionaries, the Telos EVM was redesigned to highlight the capacity that Telos technology has to offer the entire crypto ecosystem.
With the Telos EVM, users can seamlessly avoid the scaling issues that they would otherwise face with many major EVM alternatives. Coupled with its unique design, Telos EVM provides feature parity with Ethereum and this gives it a competitive edge, making it an exceptional solution for developers. Moreover, individuals seeking an Ethereum Virtual Machine that can keep up with the demands of mass adoption.
With low transaction costs and fixed gas fees, Telos EVM is creating a new paradigm in the DeFi space. The scalable nature will see that users from different parts of the globe can transact amounts as little as $1 and still make gains. It might interest you to know that this feature is impossible on other EVMs due to their fluctuating gas fees and high transaction costs. In addition, Telos EVM features up to 10,000 transactions per second, 0.5s block time for unrivaled speed and scalability.
Telos EVM also aims to outrun front running with a sustainable solution. With a fixed-rate gas fee on the Telos platform, this massive industry problem will be resolved entirely. Telos EVM gives no room for some users to outwit others just by offering higher gas fees as it is with a list of Ethereum-based chains. Ultimately, Telos is a community-governed blockchain with clear rules of how the chain should run. The platform ensures block producers must process transactions on a first-in, first-out basis, as they receive them. One cannot reorder transactions for profits. This approach guarantees strong protection from any front-running on Telos EVM.
Telos EVM provides a high throughput alternative to Ethereum mainnet that is accessible, affordable and usable to the masses.
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