PRESS RELEASE: Telos Blockchain Network Launches

For Immediate Release

Contact: Telos Foundation

Email: hello@telosfoundation.io

The Telos Launch Group Voted Unanimously to Start the Network

[December 8, 2018] The Telos Foundation announced today that the grassroots group of over 120 volunteers, known as the Telos Launch Group (TLG), who have been building the Telos Blockchain Network since July 12, 2018, have voted unanimously to begin the process of launching the Telos Network on Saturday, December 8, 2018 at UTC 17:26. The Telos Launch Team will initiate the launch sequence once its internal work tracking system is completed, accounting for 48–72 hours after the vote. This occurred after reaching a consensus that the official Telos Launch Checklist was complete. The checklist documented objectives established by the community of volunteers and designated as required prior to launching.

The selected network launch team is comprised of six block producers chosen by the TLG, collectively known as Appointed Block Producers (ABPs). This small, experienced launch team is comprised of Kainos BP, Caleos, BlindBlocArt, EOSBarcelona, EOSMetal, and Telos Venezuela. Upon launch initiation, the rigorously tested launch script will randomly select one of the six geographically dispersed APB nodes that will, in fact, launch the network.

The launch script will perform an injection of accounts created from the account snapshot files which are publicly available for review. The launch process includes a planned pause of 24–72 hours to allow for independent verification that all account information is properly recorded on the Telos mainnet. This validation will be completed by several teams within the TLG and independent teams from the EOSIO block producer community. This will lead to the automatic activation of the chain at the point when one million blocks have been produced which is approximately 5.8 days after the script was executed, excluding the pause for verification.

Once the chain is launched, token holders can begin interacting with the chain, voting for block producers and reviewing their accounts. At Activation, token holders will be able to unstake their tokens to make them liquid; this will allow users to transfer tokens for economic purposes beyond just resource-staking and voting.

TLG member and contributor, CJ Anders said, “Telos is the blockchain for the people. One of the first things I heard about Telos was that they were going to listen to the community and launch a network based on what the community wanted. I was immediately interested, read the white paper and promptly joined the effort. The initial team welcomed me with open arms, ready to listen to and act, not just on my behalf but for the community at large. It was for this very reason that Telos has grown and changed since its inception to become what is sure to be a valuable network.” .

What happens next? Read more in our Medium article: http://bit.ly/WhenTelosLaunches

The independent validation process is described in depth in this Medium article: http://bit.ly/ValidatingTelosBlockchain

The Telos Foundation is a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network functions that are not funded in other ways.

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If you would like more information about this topic, please contact The Telos Foundation by email at hello@telosfoundation.io.