THE EOS PROBLEM

A promise of a new economy is being offered and presented to us by the EOS system but it is quite unfortunate that this promise is being undermined due to high rate of centralization in the system. Studies and surveys explicitly portrays that only a little percentage (1.6%) of EOS holders own a massive percentage (90%) of the tokens. EOS Block Producer selection, governance and token ownership are all being compromised by the existence and presence of massive 'whale' addresses. One comes to discover that these existing whales have the capacity to push EOS in any direction they deem fit without due regard to the majority of developers and token holders.

TELOS - THE EOS SOLUTION

It is one thing to recognize or spot a problem but it is another thing to actually proffer sustainable solution. The problem of EOS was being spotted and there was need for a solution. Juan M. Villaverde clearly stated that 'until EOS fixes its centralization problems, the EOS dream will not come to materialization. Now, here is where TELOS comes to play. TELOS is an alternative network which is based on the same EOSIO code and its sole purpose and aim is to solve the outstanding and key problems of EOS. The word TELOS in its original state simply means: "The Ultimate Purpose of a Thing" and it is derived from a Greek word_ ΤΈΛΟΣ._

One might ask, 'what is actually the solution Telos is bringing'? Here is an answer for you; TELOS network offers and presents a decentralized economy, which implies that there is no room for 'whale' addresses. The network also offers an equitable pay structure for block producers and standbys plus an additional token holder protection and pre-activation resolution of stolen or lost keys. The TELOS network also offers DApp developer-friendly with proprietary DApps and lower cost of deployment (Telos DApp developers may designate original code portions of their DApps to be proprietary or open source.)

THE TELOS BLOCKCHAIN

Here is what you should know about this amazing blockchain. The Telos Blockchain is not entirely new as it is being built on the pre-existing EOS blockchain. It forks the EOSIO code into a new blockchain as it updates certain key elements. Telos ensures that it removes the extreme economic power of a small number of “whales” which is allowed in the EOS blockchain. How is this possible? It caps the value of every address in the genesis snapshot at 40,000 Telos (TLOS) tokens. In this blockchain, 'whales’ control of block producer selection and token holder voting is totally eliminated. Also, exchanges on the other hand are being given a process and period for requesting and petitioning to have TLOS tokens created for their EOS owners at the time of the snapshot, if and only if they agree to list TLOS and distribute tokens, capped at 40,000 per account holder.

Moreso, the Telos blockchain will reduce annual inflation to 2.5% compared to 5% and once an account is being activated, Telos addresses will not be destroyed after 3 years period of not being used, unlike on EOS. This feature present on EOS is seen by TELOS has being uncalled-for and unnecessary which is why it will not be implemented on their blockchain. However, it is advised that genesis Telos accounts created by the EOS genesis snapshot, be used at least once in a year by their owners so as to avoid being removed from the system.

The TELOS Advantage
The Telos network is seen and/or likely to be more stable, reason being that the selection of block producers is by voting, which is from a broad community based on capability rather than from a small number of whales based on affiliation. Also to note on this Telos blockchain is that failure to produce blocks as a block producer will lead to you being rotated out within a few minutes (30 minutes which is equivalent to 180 missed blocks) as opposed to 3 hours on EOS. Additionally, as a standby block producer, to show that you are constantly ready, you will be required to produce blocks in every 3-7 days when enabled. This schedule allows a needed downtime for block producers to maintain their servers as well as update them while also lowering the cost of operation.

Are you a developer? You are likely to prefer the Telos system. Why is that so? On TELOS you may designate some DApps as proprietary. Here also, the network works to lower deployment costs by keeping the availability of RAM commensurate with network needs. By this, the cost of deploying DApps is being kept lower, compared to that of EOS. However, the Telos network will work to ensure compatibility with the EOS mainnet software so that DApps can be run interchangeably on either network comfortably.

Token holders on the other hand can be expected to be more engaged due to the fact their votes matter a whole lot compared to EOS where the votes from 'whales' alone really do count. Weiss Ratings have recently warned about centralization as a severe and major problem of EOS. Suggestion of limited voting of large accounts was being made as well as the incorporation or more block producers - both of which is accomplished by Telos. By implication, we come to discover that analysts such as Weiss Ratings are more likely to give TELOS a higher valuations than EOS.

In conclusion, given all of these merits and advantages of TELOS, we should not be surprised that the TLOS token may come to have a greater and higher value than EOS, as the supply and distribution of TLOS token is expected to be between one-fifth and one-third that of EOS (200-330 million tokens), which is dependent on the participation of exchanges.

Now for you who would love to join the Steemchurch on TELOS, here is what you should know and do. Getting on-boarded on TELOS could be a little daunting and that's where the Steemchurch comes into play. Steemchurch out of generousity bridges the gap between you and the TELOS blockchain such that you can access TELOS with ease. All you need do is to FILL THIS FORM correctly and submit (You will need to use 'Tomlee.jc' as your referrer). Steemchurch helps you create your account based on the provided details and then mails you with your account details - you can proceed to log in afterwards. There are processes to follow; the guides will come as well in the mail. When this is done, all you have to do is sit back and redeem your rewards.

Also, you will need to appoint "FREEDOMQUEST" (Steemchurch Proxy Representative) as your Voting Proxy! "FREEDOMQUEST" represents Christian Values on the blockchain. You can of course vote for BPs yourself or another proxy, however the steemchurch likes to believe we will all stick together.

Relevant Telos Posts You Should Read;

	TELOS IS LIVE: "Here is why you should join Steemchurch on Telos" written by @LILTOM002 portrayed and highlighted outstanding and genuine facts about Telos as well as the advantages of joining Telos Blockchain

	STEEMCHURCH TELOS EXPANSION: "SQRL TUTORIAL" published by @SIRKNIGHT contained the complete guides for properly setting up an SQRL wallet, which is used for managing Telos Wallets

In the words of Aristotle, always remember that 'The Telos of an Acorn is to become an Oak Tree'. In the same vein, the ultimate purpose of TELOS is present and give a better Blockchain. Be a part of the blockchain!!!!! Here is the registration link once again; (Tomlee.jc as referrer)

JOIN US ON TELOS VILLAGE

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(DISCLAIMER: This post does not in any way serve as a financial advice)

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