Premium Backer: TELOS August 2020 Update
For this edition of our Monthly Buzz Backer, we’ll be considering the level of the progress our Premium Backer, Transcendence has made in the last 30 days.
The TELOS coin known from the Transcendence open-source Blockchain Project is not simply a means of payment, instead, we call it a multipurpose decentralized utility coin. TELOS is the only true climate neutral digital currency and we aim to surpass Bitcoin both from technically and humanistic point of view.
TELOS has recorded some remarkable progress over the last month.
First on this month’s roundup is the new TELOS Wallet. Interestingly, the Transcendence team has decided to ditch PIVX’s QT wallet interface in favor of its own UI. The incoming wallet comes packed with a lot of features including the introduction of Cloaked TELOS. The cloaking feature also extends to all other supported coins.
As part of its rollout, TELOS is introducing a new algorithm – Proof-of-Storage. Collateral of 64,000 TELOS is required to operate a Proof-of-Storage node. Furthermore, a 3M tier node will grant users direct access to QPU of a Q2000 Quantum Computer for 10 minutes a month.
That’s not all for the TELOS wallet. The interface will incorporate tax reporting and enable xTELOS. xTELOS will allow users to lock their coins and still get rewards from them.
Another major milestone for TELOS is the launch of its Greenbox solution. At the core of its solution, TELOS is trying to provide solutions to real-world problems. On July 21, 2020, the first Greenbox was shipped out. The Greenbox has been designed as an alternative to energy-wasting blockchains like Bitcoin. Owners of the device are incentivized to authenticate user transactions on the TELOS blockchain. In addition to earning digital assets in an easy way, operators can also allocate a percentage of their earnings to support climate projects.
In other news, the BAM Estate GmbH has gone live. The BAM platform and app are powered by TELOS Coin and Bitcoin Subsidium. Following the release of its new wallet, users will be able to manage their VEND and BAM tokens in the Transcendence wallet.
It’s also worth mentioning that Transcendence has a new visual identity in the form of a new logo.