What is Talos?
As an EVM-compatible blockchain, Talos Blockchain is a public permissioned blockchain network, which serve as the underpinning infrastructure layer of the Lootverse. Talos is designed to serve as a foundation for enterprises and startups in the metaverse, supported by our governance and economic model.
Talos has adopted the Ethereum Virtual Machine (EVM) model, enabling smart contracts, which allows for implementation of activities in the real and virtual world. Talos has built on the limitations of Ethereum for hosting large scale dApps. Ethereum lacks a suitable economic model to allow enterprises to run their dApps with a controllable and predictable cost. Talos Blockchain is designed to serve the metaverse by using the building blocks of Ethereum.
Why Talos for the metaverse?
Talos’s gas, ICHOR, is available through in-world exchanges and is designed to be significantly low cost to power the economic development of the metaverse. Talos Blockchain’s own economic benefit is linked to the Type H plot on the Lootverse and not the sale of the ICHOR itself.
Validators
Talos Blockchain can accommodate up to 15 validators or miners. Only a pre-selected set of operators is eligible for the validation of transactions and in charge of maintaining the consensus of the distributed network.
Miners need to be authorised by the steering committee of Talos. The steering committee has decided on a maximum of 15 miners. To be a miner, the entity or individual discloses his intention to be a miner to Talos in exchange for the right to validate and mine blocks. Talos steering committee will then approve or reject the miner’s request based on whether the minimum requirements are met by the entity or user.
Consensus
Talos Blockchain is based on a Proof of Authority (PoA) consensus. PoA addresses the concerns of inefficient upgrades and waste of energy. All validators are aligned with the vision of the ecosystem.
Governance
Talos Foundation is the governing body of the ecosystem, Talos Foundation is a validator on Talos Blockchain and all the proceeds, including from the validator seat, are allocated towards facilitating the decision-making, execution, development, maintenance, marketing, and administration of the Talos Blockchain.
Economic Model
Talos’ economic benefit is linked to the Lootverse, more specifically to Type H plot which is situated on Talos Island. Only 1 Type H plot exists and is tied to 1.5% of the economy of the Lootverse.
Type H is packaged as a NFT and is further divided into 15 sub-NFTs, which are assigned to validators. So, a validator will earn a reward of:
0.1%, which is 1.5%/15
of the economic activity of Lootverse.
To adopt blockchain technologies in the metaverse, Talos has tackled the problem of unpredictability of the cost of using blockchain services, which arises from the volatility of cryptocurrencies. Gas on Talos Blockchain, ICHOR, available through in-world exchanges, is designed to be low cost as the benefit is linked to the Type H plot on the Lootverse.
ICHOR
Talos’ economic benefit is linked to the Lootverse, more specifically to Type H plot which is situated on Talos Island. Only 1 Type H plot exists and is tied to 1.5% of the economy of the Lootverse.
Every end of month, all ICHOR are transferred to Talos Foundation and burned.
ICHOR
Talos Token-
Type: Native Token
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Precision: 18 decimal places
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Circulating Supply / year: 12,614,400 ICHOR
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Miner's reward: 2 ICHOR/block
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Gas fee: Base fee + Priority fee
ICHOR can be sold via OTC or on any exchange on Lootverse. Every end of month, all remaining ICHOR generated by miners are transferred to Talos Foundation and burned.