1. What is Telestai?
Telestai is a new GPU-based PoW (Proof of Work) coin that was launched less than 10 days ago, with its genesis block recently created. It uses the Meraki algorithm, which is a modified version of the Progpow algorithm previously used for Ethereum mining. The GPU overclocking settings and power consumption for Telestai are similar to those used during the Ethereum PoW era.
The name “Telestai” is derived from the Greek word meaning “It is finished” or “Successfully completed,” while “Meraki” means “To do something with soul, creativity, or love.” The use of these terms from the humanities reflects the project’s goal to bring freedom to the internet space, which is often controlled by a few powerful media entities, and to enhance digital sovereignty for individuals.
Inspired by Plato’s philosophy, the Telestai project was born with the ambitious goal of decentralizing the existing internet media structure, ensuring that the online space is no longer controlled by political agendas and corporate interests.
However, the ultimate goal of any blockchain project is to maximize the profits of investors and participants. A coin that does not generate profit will quickly lose public interest and its growth momentum.
The mining system, reminiscent of Ethereum’s PoW era, is expected to attract a large number of GPU miners. As of August 15, 2024, the genesis block was created less than 10 days ago, so if you have a GPU mining rig, I strongly recommend starting mining immediately.
Personally, what sets this project apart from others is its integration of philosophical concepts from the humanities into blockchain technology. It feels like a blend of the past and future, combining the often-overlooked humanities with the cutting-edge technology of blockchain.
Although few people are aware of this new coin, which has only been around for 10 days, over 1,000 people have already joined the related Discord community. If you mine Telestai coins early and sell them when they first hit the exchange, you could realize significant profits in a short time.
Summary:
Telestai is a blockchain-based cryptocurrency that supports the development of smart contracts and decentralized applications (DApps). The coin aims to offer high liquidity and scalability to both users and developers.
Historical Background:
Telestai was developed to provide innovative solutions within the blockchain ecosystem. The project is exploring various technical approaches with the goal of achieving long-term success in the cryptocurrency market.
Basic Information on Telestai (as of August 15, 2024):
- Name: Telestai
- Ticker Symbol: N/A
- Launch Date: August 4, 2024
- Founder/Development Team: N/A
- Market Capitalization: N/A
- Circulating Supply: N/A
- Max Supply: 1,965,600,000
- Exchange Listings: N/A
- Consensus Algorithm: Meraki
- Official Website: https://www.telestai.io
2. Telestai’s Core Algorithm: Meraki
Telestai is built on the principle of decentralization, with its network maintained through GPU mining. The Meraki algorithm is supported by SRBminer on both Windows and Hive. Currently, the network hashrate is 250 Gh/s, with 8 mining pools participating. An RTX 3070 graphics card achieves approximately 60 Mh/s hash rate with a power consumption of 130W, which is similar to the Ethereum PoW era settings.
Technical Foundation:
Telestai optimizes network efficiency and security using its unique Meraki algorithm. The Meraki algorithm is based on the Proof of Stake (PoS) consensus mechanism, which enhances transaction processing speed and reduces energy consumption. This algorithm optimizes data processing and transaction speed within Telestai’s decentralized network, providing high scalability and energy efficiency.
Meraki Algorithm: The Meraki algorithm is the core technology of the Telestai blockchain, designed to maximize network efficiency and security. It focuses on optimizing data processing and transaction speed in a decentralized network environment. The algorithm is particularly suited for supporting large-scale applications and smart contracts, offering high scalability and energy efficiency.
The Meraki algorithm is built on the PoS consensus mechanism, which helps maintain network stability and enhances security in a decentralized manner. As a result, the Telestai network features fast transaction processing and low energy consumption.
Additionally, the Meraki algorithm enables real-time data processing and efficient resource management, ensuring the smooth operation of Telestai’s decentralized applications (DApps) and smart contracts. These characteristics give Telestai high potential for application across various industries, particularly in finance, healthcare, and gaming.
Through continuous technological development and upgrades, the Meraki algorithm will expand the Telestai coin’s ecosystem, providing a stable and reliable network environment in the long term. This will position Telestai as a more competitive blockchain solution.
Network Structure: Telestai’s network is decentralized, maintaining high scalability and security through the Meraki algorithm. This ensures the transparency and safety of transactions, providing continuous service without network interruptions.
3. Features of Telestai
Key Functions and Characteristics:
Telestai is characterized by fast transaction speeds, low fees, and high scalability. It supports smart contracts and DApps, offering various opportunities for users and developers.
Security:
Telestai maintains high security through real-time transaction analysis and automated security policies using the Meraki algorithm. The network is equipped with a strong security structure that utilizes the latest encryption techniques to counter various attacks.
User-Friendliness:
The Telestai platform offers a user-friendly interface and enhances user accessibility through compatibility with various wallets. This allows users to easily trade and manage Telestai coins.
4. Telestai’s Application Scalability
Real-World Use Cases:
Telestai has the potential to be used in various DApp and smart contract projects. The unique scalability and efficiency of the Meraki algorithm allow users to leverage the Telestai platform across different services.
Future Expansion Potential:
Telestai is expected to be utilized in NFT marketplaces, DeFi platforms, and sectors such as gaming, finance, and healthcare. This expansion potential increases Telestai’s long-term growth prospects.
5. Telestai Price Trends
Market Cap and Price Fluctuations:
Since it has only been about 10 days since the genesis block was created, there is no determined market price for Telestai yet. However, key community members are aiming for a listing on the XEGGEX exchange. Once the number of miners increases and OTC trading begins, and if the necessary funds of $6,000 for the XEGGEX exchange listing are raised through the 25% reward allocated to the DEV team, the exchange listing is expected to take place soon.
While the success of the TELESTAI project cannot yet be determined, the involvement of developers who have experience in creating and operating other coins suggests that the mined quantity is likely to cover at least the cost, making it a worthwhile mining opportunity for those who already have GPU mining rigs.
6. Telestai Investment Analysis
Telestai is a new coin that was launched only about 10 days ago. Although mining began just a few days ago, the network hashrate has already reached 250 Gh/s, indicating that approximately 4,200 RTX 3070 graphics cards with a hash rate of 60 Mh/s each are participating in mining.
A large number of GPU miners are initially participating in the Telestai project, and if it is listed on mid-sized cryptocurrency exchanges like XEGGEX, miners could see returns of over 12 times the electricity costs in a short period.
However, considering the typical price trends of newly launched coins, prices are expected to gradually decline about two weeks after the initial exchange listing. Therefore, the recommended strategy is to sell off more than 80% of the mined Telestai coins immediately after the exchange listing to realize profits, and then reassess re-entry after the price stabilizes.
With the U.S. presidential election approaching, there is a high likelihood of interest rate cuts to stimulate the economy once a new president is elected. I hope that the newly launched Telestai brings significant profits to all readers as we head into the upcoming bullish market.
