Transcendence combines an open-source, decentralized blockchain with existing services like AmiCloud and the IndieGo-Appstore. It is the first of its kind cryptocurrency that puts all participants and users on an equal level. It combines Proof of Stake with Proof of SaaS (Storage as a Service) and PoC (Computational power as a service). Check the overview of Transcendence here.
Transcendence is backed by their native coin called the Telos Coin which also serves as the primary payment source for all the services offered by the Transcendence ecosystem. The long-term aim of this blockchain is to move the cloud storage and cloud computing aspects of the closed source software to the more transparent open source blockchain.
Telos coin is a privacy-focused coin that runs on the Blackcoin PoS 2.0 protocol and utilizes a network of master nodes for an openly visible decentralized governance and increased transaction privacy. The main goal is to achieve near instant private transactions and a governance that helps sustain the network for the benefit of all of the users involved.
Transcendence will eventually become a decentralized and optionally private messenger, an open marketplace for developers and artists as well as a cloud storage and processing platform with future access to a D-Wave quantum computing cloud. Two of the services named IndieGo and AmiCloud are already up and running on the platform.
IndieGO is a marketplace and an app store environment that works on multiple platforms while Amicloud offers cloud storage service to the users. In addition, the soon to be launched IndieChat service will allow the users to communicate with others in groups or privately. Telos will become the only accepted blockchain based payment in the multi-platform Appstore and Transcendence/ Telos marketplace.
Transcendence also comes with a Telos wallet that can be downloaded for Windows, Linux and OS X. It has predefined bounties but the community has the option to define and start their own bounties as well. Much like other blockchains, Transcendence/Telos uses a peer-to-peer network structure with no third-party involvement and no single point of failure for any operations.
At present, Transcendence is in the process of developing the Teloscoin website, which will include a widget to show the current USD and EURO values and a calculator. Apart from this, a master node subpage and Orange PI bundles to control the master nodes are also in pipeline. These small ARM-based mini- computers are affordable, consume less electricity and are plug and play which makes them suitable for staking or running nodes.
In near future, Transcendence / Telos Network will become capable of utilizing Bitcoin, Zcash, Hush, and Verium networks to send transactions when the fees are lower than inside the own Chain. It will also establish two exchanges named PeerToro and Bitdorado in Estonia. Find more information at teloscoin.org.