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The development of the Telos zkEVM is crucial in the future growth prospects of the web3 ecosystem as it seamlessly onboard Ethereum compatible DeFis.
Key Notes
The Telos network intends to disrupt the DeFi ecosystem with its zkEVM platform which will be launched by the end of next year.TLOS price has rebounded over 30 percent in the past two weeks amid the ongoing crypto bullish outlook.After successfully launching the Telos EVM in 2021 to enhance web3 compatibility across different chains, the Telos Foundation has announced the development plans for its SNARKtor-powered Zero-Knowledge Ethereum Virtual Machine (zkEVM) with a hardware acceleration. The veteran layer one (L1) blockchain intends to attract more decentralized applications (Dapps) developers amid the mainstream adoption of digital assets and web3 protocols.
Throughout the zkEVM development plan, the Telos Foundation has placed its native coin, TLOS TLOS $0.30 24h volatility: 2.5% Market cap: $124.88 M Vol. 24h: $19.05 M , at the centers to enhance its utility. The Telos Foundation has set the zkEVM development plan to continue until the fourth quarter of 2025.
What to Expect on Telos zkEVM Development Plan
The Telos zkEVM roadmap will involve both the mainnet and testnet, whereby the core development team intends to subdivide the tasks in different quarters. By the end of the fourth quarter of 2024, the Telos team intends to deploy the TLOS hardware accelerated zkEVM in the testnet. In this stage, the Telos team plans to make the TLOS token the main token for optimizing operations.
In the first quarter of 2025, the Telos team intends to deploy the zkEVM version on the Ethereum mainnet. By the end of the second quarter, the Telos team plans to roll out the initial SNARKtor integration in the testnet to seamlessly aggregate multiple ZK proofs.
In the third quarter of 2025, the Telos Foundation announced that it will introduce the full SNARKtor integration in the testnet. By the end of next year, the Telos team intends to deploy the full SNARKtor integration on the mainnet.
— The Telos Foundation (@HelloTelos) September 26, 2024
Market Impact
The Telos ecosystem has grown to hundreds of web3 protocols over the years since its launch in 2018. The Telos network consists of wallets, bridges, oracles, metaverses, Launchpad, Blockchain Explorer, and DeFi. Some of the DeFi projects that leverage the Telos network include VaporFi, OpenOcean, TokensFarm, and Steer Protocol, among others.
The successful launch of the Telos zkEVM by late next year will attract more DeFi protocols from other chains, thus increasing its mainstream adoption. Ultimately, the demand for TLOS will grow exponentially, thus increasing its overall on-chain activities.
Following the announcement, TLOS price gained around 2 percent in the past 24 hours to trade at about 30 cents at the time of this report.
The small-cap altcoin, with a fully diluted valuation of about $123 million and a daily average traded volume of around $18 million, has pumped around 30 percent in the past two weeks.
As a result, TLOS’s price is well positioned to rally towards its all-time high (ATH) in the coming months.
In the weekly derivatives time frame, TLOS price against the US dollar has formed an inverted head and shoulders (H&S) pattern coupled with a bullish divergence on the Relative Strength Index (RSI).
If Bitcoin BTC $64 611 24h volatility: 1.1% Market cap: $1.28 T Vol. 24h: $30.68 B price triggers the next altseason by pumping beyond $70k soon, TLOS price will be eying the parabolic phase of the current bull market.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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