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Telos Launches Fully EVM Compatible Layer 1 Blockchain

14 October 2021 13:48, UTC

Anna Martynova

Telos has launched a fully EVM compatible layer 1 blockchain, the EVM Mainnet. Telos EVM is an Ethereum virtual machine that enforces existing Vyper and Solidity contracts. Compared to Ethereum, its speed is 30 times faster, its capacity is 100 times higher, and the cost is only a percentage of recent Ethereum gas fees. Telos EVM consumes approximately 31mm less power per transaction.

Telos EVM can save existing Ethereum DApps (Decentralized Applications) disrupted by the huge increase in Ethereum gas fees, allowing developers to deploy their Solidity smart contracts to Telos EVM without modifying code.

Telos' governance structure gives developers and contributors more control over the platform than others. The control functions are available to any Telos developer for use in their own DApps.

Image: CryptoTapas