Telos Block Producers: Stewards of the Chain
By Mark Cohen (Telos Vancouver)
As the stewards of the Telos Blockchain Network, Block Producers (BPs) are tasked with keeping the network running, secure, and able to meet user demand. While the top 21 BPs are democratically elected by Telos token holders, they hold full executive power, in that ultimately all decisions regarding the chain are determined by a vote of the top 21 block producers (who are elected at the time the vote is proposed).
Being a BP on the Telos Blockchain Network (“TBN”) isn’t easy — all this power comes with great responsibility. In addition to the technical proficiencies and significant capital investments required, BPs must also consistently meet specific requirements in order to be compliant with the regproducer agreement and BP minimum requirements document, two core Telos governance documents, which define the rules for BP to participate in Telos.
Not only is it in the interest of all Telos stakeholders to hold BPs accountable to these rules (to which they agreed when they registered on the network), it’s in the interest of BPs to hold each other accountable. As there’s only ever 21 BPs running the network at any one time, it only takes a few poorly performing BPs to significantly impact the network — slowing transactions, potentially causing the chain to freeze, or worse; fork (split into multiple chains), thereby diminishing the network’s overall value.
The Telos Foundation, a democratically elected body whose mission is to promote and facilitate the health and success of Telos, recognizes the importance of providing Telos stakeholders with insights into a BP’s status, so that stakeholders can make informed choices when voting for BPs. To this end, the Foundation will be regularly publishing a listing of Telos BPs that reports on their status — including information on performance metrics and compliance status.
BP Candidate Directory: https://telosfoundation.io/candidates
BP Compliance Tracker: https://docs.google.com/spreadsheets/d/1k1KKj6uLTv39EqJ_XGlFQFGvoMsUTY9XRJxvQpscHSo/edit?usp=sharing
These resources are a great starting point, but we plan to expand these services in the future. In the meantime, we strongly encourage the community to educate themselves about the merits of each Telos Block Producer by regularly referring to the BP rankings page, asking questions of their BPs, and casting their votes accordingly. Go Telos!
If you’re a BP and would like to be added to the Foundation’s listing, please contact bpinfo@telosfoundation.io.
Join our Telegram channels:
Telos Block Pros: https://t.me/TELOSPros
Telos Testnet: https://t.me/TelosTestnet
