Ore network expands into Telos to further the development of DeFi dApps

The Telos Foundation has announced that they will be releasing the first official Telos Cloud Wallet to developers on ORE protocol. This new wallet will allow for a simple single sign-on solution using a Web 2.0 login, such as a Google ID, Apple ID, Twitter, or Facebook login. On the heels of this partnership, the Telos Foundation will be covering the cost for the first 3 million wallets created through this initiative, making it easy for developers of all sizes to launch their apps on Telos with minimal friction.

This is a significant milestone for the Telos ecosystem, as Telos becomes the first Ethereum Virtual Machine (EVM) compatible chain to offer a free cloud wallet service to developers. With Telos being the first EVM chain to have no gas fees, users will be able to begin using applications immediately without any out-of-pocket expense.

One of the benefits of using ORE ID is that it will allow users to create wallets on the fly for both the Telos Native and Telos EVM chains with a single login. Additionally, the Telos Foundation will be staking TLOS tokens to each ORE ID wallet, making it possible for users to begin using the Telos chain at no cost immediately. Users will also be able to export their private keys for a small fee of 10 ORE tokens, ensuring their security and sovereignty.

This partnership between ORE and Telos foundation is a testament to the decentralized vision of ORE Network and commitment to making blockchain technology accessible for people around the world.