Telos Transitions to POS Algorithm — Tiered Node Model
Telos has upgraded its masternode structure to a tiered node model. This is following the network’s upgrade to TELOS 2.0., “an advanced and improved blockchain that aims to enable more efficient operation of the entire network, as well as an easy adaptation of the cryptocurrency itself for use in everyday life.”
A week ago, the team tweeted that:
Soon Telos reaches block 524500 which enables tiered nodes. Setup the very first 100k node in our network and get 10k as bounty goal.
The new tiered node model has different categories – Bronze, Silver, Gold, Platinum, and Diamond, otherwise categorized as Tier 1 to 5. The collateral for Tier1, Tier2, Tier3, Tier4 and Tier5 are 1k, 3k, 10k, 30k, and 100k TELOS, respectively.
The sweepstakes or rewards amounts are the same for all tiers. For example, if the reward for running a 1k masternode is 2 cents, someone operating a 100k masternode will receive 100 times that reward, without having to run multiple nodes. In practice, a higher-tiered masternode is simply a multiple of the basic 1k masternode (Tier1).
As part of efforts to TELOS stable and prepare for the future growth of the project, the coins per block has been reduced to 100 TELOS, from a previous 200 TELOS.