Admit it … that just sounds cool, doesn’t it? I mean, how much more macho can one get by using the word “machine” in any sentence. Today, I wanted to talk about this rising crypto star, TLOS, and why I love this project.
Telos (TLOS) is a scaling alternative for the Ethereum network. The Ethereum network is the largest blockchain development platform and 2nd in market cap among all tokens. Before I get into it, let’s look at one of the inherent problems with Ethereum so that we can appreciate the benefits of the TLOS Ethereum Virtual Machine or “EVM”.
Here’s an example of how disfunctional the Ethereum network is:
There are several networks, but Ethereum (ERC-20) and Binance Smart Chain (BEP-20) are the main ones on which all transactions in the form of smart contracts occur. In the not too distant past, I didn’t realize that, and accidentally transferred $10 USDT (ERC-20) into my Binance BSC network wallet. I soon realized that it ‘didn’t belong’ so I wanted to transfer that $10 back out to a separate wallet set up on the Ethereum network. Well, in order to transfer $10, the Ethereum network fee is $24.98! And, if I were to hit “Confirm”, the network would have no problem watching me make a losing transaction. Ethereum Network: “Serves you right for not knowing what the heck you were doing! You deserve to lose money.” I’m…
