The Telos network is a new network based on a code-fork of the EOSIO software that also powers EOS. Telos will use a token distribution identical to the EOS genesis snapshot. In my last article, I wrote about how the distribution of the Telos (TLOS) tokens will give it value. In this article, I will go into details about how proprietary apps built on the Telos network will give it tremendous value.
The reason some businesses dominate their field, especially in technology is because of what are called patents. For those that do not know, patents are intellectual property. A patent gives its owner the right to exclude others from making, using, selling, and importing an invention for a limited period of time, usually twenty years. The patent rights are granted in exchange for a detailed public disclosure of the invention. In most countries patent rights fall under civil law and the patent holder needs to sue someone infringing the patent in order to enforce their rights. With patents, companies are able to continue to generate profits and grow big because they are able to sue people that try to use their ground breaking ideas for profit.
Now what has this got to do with Telos? Everything! The network that Telos is forking from, EOS, does not allow proprietary apps because all apps running on the network must be open source according to EOS Constitution Article VII. This means that anybody can look at the source code for any apps built on EOS network. Telos gives app developers the option to make it open source or proprietary. This will be huge as businesses start transitioning from centralized networks with all it's issues to decentralized networks. As these businesses build proprietary apps, they will be acquiring TLOS tokens to secure their network and this will invariably increase the value of the tokens. Below are examples of proprietary products that launched these tech companies into multi billion dollar companies.
Dropbox: Network folder synchronization
Filed in August 2010 by Dropbox co-founders and MIT alums Drew Houston and Arash Ferdowsi, this patent details how multiple clients can share and synchronize folders and their contents across a network. Version control ensures everyone can access the latest iteration of a file. If you’ve ever used Dropbox, you know this is a core part of why online file sharing and access became so popular so quickly.
FireEye: System and method of detecting computer worms
Former Sun Microsystems engineer Ashar Aziz founded security startup FireEye in 2004. His vision was first detailed in this March 2005 patent. His method of identifying and responding to a specific network security risk category evolved into the company’s main product line, the FireEye Malware Protection System. A massively successful IPO on NASDAQ followed in 2013.
Zynga: Asynchronous challenge gaming
Zynga VP Andrew Busey and software engineer Christian Primozich filed this patent in November 2008 to protect Zynga’s nascent social gaming plans. The method described how individual characters and character teams could challenge others based on characteristics such as abilities, powers, defenses and performance levels. While Zynga’s vertiginous growth has levelled off, the brand remains synonymous with social and casual gaming on mobile and desktop.
Facebook: Dynamically generating a privacy summary
Interestingly, this isn’t the first patent granted to Facebook co-founder Mark Zuckerberg, though it was the first that he filed. Six years passed before he and co-inventor Chris Kelly, Facebook’s Chief Privacy Officer, received formal approval of their invention in July 2012. It addresses privacy settings, and systems and methods to dynamically generate a privacy summary based on an individual’s privacy setting selections.
Source: http://blog.ipfolio.com/10-patents-that-launched-billion-dollar-empires
Will the next Billion dollar Dapp (Decentalized application) be built on Telos? You will have to be the judge of that!
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